Union Minister of Commerce and Industry Piyush Goyal has concluded a five-day visit to Spain, Belgium, Finland and Estonia aimed at deepening India’s economic partnership with Europe, while building on the momentum generated by the successful conclusion of the India–EU Free Trade Agreement (FTA) negotiations, according to a statement issued by the Commerce and Industry Ministry on Sunday.
During the visit from 13-18 July 2026, the minister held multiple high-level engagements with ministers, senior government leaders, business executives and industry stakeholders across the four countries to expand investment linkages, strengthen technology cooperation and promote greater business-to-business engagement.
He was accompanied by a high-level Indian business delegation. The visit imparted fresh momentum to India’s expanding economic engagement with Europe. The understandings reached during the visit are expected to strengthen technology partnerships, promote investment flows, improve market access for Indian exporters and expand cooperation in future-oriented sectors, the statement said.
During his visit to Spain, Goyal held productive discussions with Carlos Cuerpo Caballero, First Vice-President and Minister of Economy, Trade and Business, and Jordi Hereu Boher, Minister of Industry and Tourism. Goyal proposed an annual India–Spain Joint Commission meeting with business participation, while Spain proposed establishing a dedicated “India Team” to facilitate bilateral engagement.
Both sides also agreed to advance technical discussions on interoperability between India’s Unified Payments Interface (UPI) and Spain’s Bizum digital payments platform. They identified significant opportunities for collaboration in the automotive, pharmaceutical, chemical, textile, renewable energy, tourism, and infrastructure sectors.
Addressing the India–Spain Business Forum, Goyal called upon businesses to forge early partnerships to maximise opportunities arising from the India-EU FTA and outlined an ambitious “10×10×10” vision to increase bilateral trade, investment and tourism tenfold over the next decade.
In Brussels, Goyal co-chaired the 3rd India-EU Trade and Technology Council (TTC) Ministerial Meeting. He welcomed the adoption of the 2026-27 TTC Action Plan and the listing of 21 additional Indian fishery establishments, taking the total number of approved Indian establishments to 625.
India also raised the issue of listing Indian ship recycling yards and proposed launching an India–EU dialogue on skills, education and talent mobility. Both sides reaffirmed their commitment to work towards the early signing and implementation of the India-EU FTA.
The discussions also covered negotiations on the Investment Protection Agreement and the Geographical Indications Agreement, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, duty derogation for Basmati rice, steel scrap and other items.
In Finland, Goyal met Riikka Purra, Acting Prime Minister and Minister of Finance, and Sakari Puisto, Minister of Economic Affairs. The discussions focused on expanding cooperation in artificial intelligence, 6G, quantum technologies, clean energy, the circular economy, advanced manufacturing and innovation.
He invited Finnish companies to establish manufacturing bases in India to serve global markets and deepen collaboration in telecom technologies, data centres, cloud computing and workforce development. The Minister concluded his visit in Estonia on 18 July 2026, marking the first ministerial-level visit from India since the opening of India’s resident Embassy in Tallinn in 2021 and underscoring the growing importance of bilateral economic relations.
Addressing the India–Estonia Business Forum, Goyal encouraged businesses from both countries to expand cooperation in cybersecurity, blockchain, clean energy and green hydrogen, the statement added.