Thank you, Madam High-Representative [dear Kaja]. Trade is one of the cornerstones of the EU-India Strategic Agenda – and it is essential to maintain steady efforts on both sides to strengthen the momentum.
Trade between our economies has grown by 90% over the past decade.
In 2024, we traded goods worth some 120 billion euros, making the European Union Indias largest trading partner, ahead of the U.S. and China.
Over 6,000 European companies now operate in India, employing 2 million people directly, and supporting another 6 million jobs indirectly.
In just five years, EU investment in India has nearly doubled to 140 billion euros, making us one of Indias top investors.
And yet, we have only scratched the surface.
A commercially meaningful EU-India Free Trade Agreement would unlock vast potential. By tackling both tariff and non-tariff barriers, we can drive new waves of trade and investment, strengthen our supply chains, and help safeguard open, rules-based global commerce.
Our shared ambition is clear: to conclude negotiations by the end of this year. But as always, steady determination will be key – and we still have some ground to cover.
As you know, I travelled to India last week – my third visit this year – in an effort to advance the negotiations, which have now reached 13 rounds.
I must admit, however, that I had hoped for more progress.
I remain in frequent contact with my counterpart, Minister Goyal, as there is undoubtedly much to gain – for both the EU and India – if we get this right.
Thank you.
