India and European nations push for faster FTA launch ahead of Trump’s return

Asked about the status of the agreement with the EFTA last week, Indian Commerce Minister Piyush Goyal said it was “progressing very fast”.

He added there was strong political support for the deal and that it had “cleared an important hurdle” in Switzerland, with implementation expected by the end of 2025.

Observers say Europe is preparing for a more distant relationship with Washington after Trump becomes the next US president, which will spur the region’s efforts to forge closer relations with India.

“From the minister’s statement, it is very clear that the Indian government will be concluding [an FTA with] the EFTA soon. This may provide a greater push for India-EU engagement [for a similar deal],” said T.S. Vishwanath, a principal adviser at international trade consultancy ASL-Legal in New Delhi.

On Tuesday, Indian Prime Minister Narendra Modi issued a statement to congratulate Antonio Costa for becoming President of the European Council.