Union Commerce and Industry Minister Piyush Goyal said on Friday that there are “exciting possibilities” that hold “good potential” for automobile businesses.
Goyal spoke at the 65th ACMA Annual Session, and said that he and EU Trade Commissioner Maroš Sefcovic are “working sincerely” with their teams to engage in negotiations for the FTA.
He stated that the trade deal would unlock partnerships with European automobile companies.
Every agreement has a “give and take”, and there can “never be a perfect situation”, Goyal said, but added that the possibilities that the two sides are trying to unlock are immense.
The minister further said that India aspires to grow from 34 cars per 1000 people to 200 cars per 1000 people with this agreement.
Goyal called Maroš a “tough negotiator” and said he was looking forward to a mutually beneficial FTA. He further said that the deal will define two large economies of relevance.