Commerce and Industry Minister Piyush Goyal is set to travel to Europe for key trade discussions shortly after Diwali, according to government sources quoted by CNBC-TV18. The visit will include participation in the Berlin dialogue, followed by crucial meetings with the European Union (EU) in the last week of October to advance talks on a Free Trade Agreement (FTA).
India’s Push for Trade Diversification
India has already completed 14 rounds of trade negotiations with the EU and three rounds with New Zealand, marking steady progress toward potential FTAs with both partners. After his meetings in Europe, Goyal is also expected to visit New Zealand to continue discussions on a bilateral trade agreement.
Sources said India is strategically working to diversify its export base across multiple economies to reduce dependency on specific markets and mitigate risks arising from global uncertainties and US tariffs.
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Government Advice to Exporters
Highlighting the challenges faced by exporters, sources revealed that the government has advised exporters not to sell at a loss, but instead focus on trade diversion to other emerging markets to hedge against geopolitical and tariff-related risks.
Boost for Indian Fisheries Exports
In a significant development for India’s marine products sector, the EU has approved 102 new Indian fisheries establishments eligible for exports to the bloc as of September 9. This decision provides much-needed relief to Indian exporters who were impacted by 50% tariffs imposed by the US on marine products.
Russia Reviewing Indian Fisheries Imports
After the EU’s approval, Russia is also reviewing clearances for Indian fisheries exports, which could open up access to the Russia-led Eurasian Economic Union (EAEU). This expansion would further strengthen India’s presence in global seafood markets.
Currently, the US remains the top export destination for India’s marine products, followed by the EU, China, Japan, and Vietnam. The fresh EU listing and potential Russian clearances are expected to enhance export opportunities and reduce sectoral dependence on any single market.
Conclusion
Piyush Goyal’s upcoming visit to Europe marks an important step in India’s trade diplomacy, aimed at building resilient export channels and ensuring that Indian goods continue to find strong demand globally. With both the EU and Russia showing positive engagement, India’s trade outlook appears set for a stronger post-Diwali momentum.
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