There is a significant progress in the negotiations for the proposed free trade agreement (FTA) between India and European Union (EU), an official said on Thursday.

Significant progress has been reported in the ongoing negotiations for a proposed free trade agreement between India and the European Union. Indian Commerce Minister Piyush Goyal recently met with EU Trade Commissioner Maros Sefcovic to review progress.

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The dialogue signals a renewed push to advance negotiations on the India-EU FTA, a pact that has faced hurdles over the years due to differences on issues such as market access, tariff reductions and regulatory alignment.

During the meeting between Goyal and Sefcovic, the two sides agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial trade pact.

Piyush Goyal has always reiterated the importance of mutual respect and sensitivity in FTA negotiations for both India and EU.

Von der Leyen’s announcement followed on the heels of a positive visit to Belgium by Indian Commerce Minister Piyush Goyal, during which he met European Trade Commissioner Maroš Šefčovič. The next round of talks on a free-trade agreement has been set for March 10-14 in Brussels.

EU chief Ursula von der Leyen on Tuesday said her top team will visit India to boost ties on the first trip abroad of its new mandate.

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