By Aveek Banerjee,News18

Copyright news18

Commerce Minister Piyush Goyal on Friday asserted that the partnership between India and the European Union is founded on shared values, positioning it as a potential model for global geopolitics. He emphasised that the two are friends who complement each other rather than compete.
While addressing an event with Maros Sefcovic, EU Commissioner for Trade and Economic Security, Goyal said India and the EU offer opportunities for businesses on both sides and expressed commitment to unlocking the full potential of the partnership.
“It’s important that we look upon this relationship not purely from the lens of what we can do to expand trade between Europe and India, but for the larger impact that we can have worldwide,” he said.

Wonderful to address the Joint Ministerial Business Interaction along with my friend, @MarosSefcovic, EU Commissioner for Trade and Economic Security.
Emphasised how India and the EU complement each other and offer great opportunities for businesses on both sides. Together, we… pic.twitter.com/tM8WFKfGm4
— Piyush Goyal (@PiyushGoyal) September 12, 2025

“I can assure all of you, in me, my colleagues, entire government, business community and for that matter, the 1.4 billion Indians look upon Europe as a friend, partner, strategic ally and a country that equally believes in fairplay and rule of law, high standards of quality, sustainability, inclusive growth, and all the principles that are dear to our Prime Minister and the people of India. We complement each other, we do not compete with each other,” he said.
Goyal’s remarks came against the backdrop of US President Donald Trump’s tariff pressure on several countries, including India. According to several reports, Trump has urged the European Union to hit India and China with tariffs of up to 100 per cent as part of a strategy to pressure Russian President Vladimir Putin to end the Ukraine war.
Goyal asserted that both sides are looking forward to a robust, fair and mutually balanced Free Trade Agreement (FTA), which will strengthen the relationship between Europe and India. “We will both be economies of significance, relevance and contribute to each other by free trade,” he added.
“We are working towards the shared prosperity of the EU and India. Every agreement has give and take. Every agreement cannot be perfect. I can assure you that the direction in which we are going, the possibilities we are trying to unlock are immense,” Goyal stressed, while calling on businesses to research and develop in India.
He also said India’s partnership with Europe will set a role model for the geopolitics of the world and create opportunities for many other parts of the world. “If you are to work with India, you could actually capture the world market,” he said.
Earlier, a report by the Financial Times suggested that the European capitals were discussing potential secondary sanctions against countries such as China and India for buying Russian oil and gas. However, many are nervous, given the EU’s trade relations with Beijing and New Delhi, it added.
The Donald Trump administration has imposed 25% reciprocal duties on Indian goods along with an additional 25% levy tied to New Delhi’s imports of discounted Russian crude- bringing the total tariff burden to 50 per cent, among the steepest in the world.
(with inputs from ANI)