India, EU Hope to Conclude Investment Protection Agreement Before End of 2026

Piyush Goyal and Maros Sefcovic say both sides are working towards an early investment protection agreement following the third India-EU Trade and Technology Council meeting in Brussels.

India and the European Union on Wednesday said they are hopeful of concluding an investment protection agreement before the end of this year. The development was announced after the third meeting of the India-EU Trade and Technology Council (TTC) in Brussels, where both sides reviewed progress on investment, trade and strategic cooperation.

New Delhi: India and the European Union on Wednesday said they are hopeful of concluding an investment protection agreement before the end of this year.

Commerce and Industry Minister Piyush Goyal said he was hopeful that India and the EU would conclude an investment protection agreement before the end of the year, while adding that deadlines are not as important as the intention.

EU Trade and Economic Security Commissioner Maros Sefcovic said both sides share the goal to “do our utmost to do it by the end of the year”.

“We are both engaged and are desirous of concluding an investment protection agreement at an early date. The teams continue to discuss various aspects,” Goyal said after the third meeting of the India-EU Trade and Technology Council (TTC) in Brussels.

Sefcovic said, “We both are very much interested in increasing the flow of investment, both to India and from India to the EU... we are doing our utmost to deliver also on this goal.”

Goyal also said both India and the EU are committed to de-risking their dependencies on certain critical areas.

“India-EU partnership is today poised to reach greater heights. The free trade agreement, the security and defence partnership and the mobility framework have been its key achievements this year,” said External Affairs Minister S Jaishankar.

Addressing issues related to the EU’s steel measures, Goyal said these were known before the free trade agreement was concluded.

“The free trade agreement reflects an equitable and balanced outcome, which covers a wide spectrum of subjects, including steel. When you are negotiating, there are trade-offs. Looking at the sensitivities of different countries, we've been able to come to a very balanced outcome, including the steel measures,” he said.