Goyal Urges MSMEs to Seize India-EU Trade Opportunities
Berlin, October 24: Commerce and Industry Minister Piyush Goyal said on Saturday that the India-European Union Free Trade Agreement holds the power to change the trade landscape. The pact, expected to be concluded by the end of the year, is set to expand market access, strengthen supply chains and open new avenues for trade and investment.
Goyal described his talks with the Indian business delegation travelling with him in Berlin as a meaningful discussion. He appreciated the growing strength of India-Germany ties and the possibilities this holds for Indian industry.
He called upon businesses, especially MSMEs, to use this opening to build sustainable partnerships with German counterparts. Goyal listed a range of sectors where the opportunities lie, including textiles, pharmaceuticals, engineering, renewable energy and new technologies.
In a message posted on X, he urged the delegation to keep quality, compliance and reliability at the highest level. He said this would enhance India's credibility as a country that fulfils its commitments and as a partner that the world can count on.
The minister also addressed a roundtable in Berlin attended by heads of key German research organisations. He said the participants shared ideas on increasing India-Germany cooperation in research, frontier technology and innovation. The talks also focused on speeding up joint efforts in advanced materials and artificial intelligence, as well as strengthening relations among research institutions, startups and industry.
During discussions with heads of select Fraunhofer institutes working on new and emerging industrial technologies, Goyal highlighted how German precision technology and India's skilled talent can come together to boost innovation at affordable costs.
Goyal said that India's dedicated push for skill development, combined with collaboration among researchers, academia and industry, provides immense scope to deepen the research and development partnership.
He further stated that the India-EU FTA opens large opportunities to link complementary strengths in advanced manufacturing, engineering, IT and telecom, and technology-driven services, bringing more prosperity to people.
In Berlin, he interacted with Indian scientists, researchers and students, hearing their views on strengthening support systems for Indian talent abroad. He asked them to keep contributing to the journey of Viksit Bharat in their own way.
Goyal assured them of complete support, saying their innovation and startup efforts would be given a platform at important trade fairs and exhibitions, where India would be presented confidently.