New Delhi
Spain, Germany, Belgium lead way in EU exports
Spain, Germany and Belgium are the brightest spots for Indian exports to the European Union, officials said, as New Delhi and Brussels edge closer to a free-trade agreement (FTA) that they hope will unlock growth across the bloc’s 27 member states.
The proposed pact would remove tariff and non-tariff barriers on more than 90% of Indian goods, with labour-intensive sectors such as textiles, leather, chemicals, electronics and jewellery to benefit the most as they do not compete with European manufacturers. India’s exporters currently face stiff competition from duty-free and quota-free shipments from least developed countries such as Bangladesh. “Once the proposed FTA is implemented, this duty disadvantage will end,” one of them said.
Ursula von der Leyen, the European Commission President, said hours before her arrival that negotiators were “closing in” on “the mother of all trade deals”, in a post on X. She and with European Council President Antonio Costa are the chief guests at the Republic Day celebrations on Monday.
Both leaders are accompanied by an official delegation that includes European Commissioner for trade Maroš Šefčovič., who said in a post on X that he had held his 10th in-person meeting with commerce minister Piyush Goyal, and that talks were nearing their conclusion. Goyal replied to his post, saying “sustained and constructive” engagements “over the past year has brought us closer to a fruitful outcome.”
The negotiations were relaunched in June 2022 after a hiatus of more than nine years.
India’s exports to Spain, Germany and Belgium rose 17% from $15.9 billion in April-December 2024 to $18.6 billion in April-December 2025. “This growth is very significant if compared to India’s modest merchandise export growth of 2.4% in the first three quarters (April-December 2025) of FY26,” one of the officials cited above said.
Spain emerged as the standout performer, with exports surging by 53.3%, adding $1.86 billion in the three quarters of FY26, he said. “Germany, remained India’s largest export destination within the EU, delivered a steady 9.4% growth, reinforcing its role as a high-value and resilient market,” the official said. In terms of value, “Belgium, a key logistics and trading hub for the EU, maintained stable annualized growth of 5.4% at $4.9 billion in April-December 2025, reflecting consistent demand and its importance as a gateway for Indian exports into Europe,” he added.
According to trade data in public domain (up to November 2025), Sweden, Denmark, Slovenia, Malta, Bulgaria, Latvia and Estonia have shown double-digit growth in Indian exports during April-November 2025 as compared to April-November 2024. India’s merchandise exports to Sweden saw over 11% annualized growth at $896 million in April-November 2025, Denmark (11.93% at $619.19 million), Slovenia (45.65% at $519.47 million), Malta (33.2% at $254.09 million), Bulgaria (51.2% at $214.94 million), Latvia (11.2% at $171.49 million) and Estonia (49.45% at $73.45 million).
India’s exports to the EU rose more than 16% in November 2025 to $6.26 billion as compared to $5.4 billion in November 2024. Cumulatively, exports to the EU declined by 3.97% to $48.99 billion in April-November 2025 from 51.01 billion in November 2024, according to official data.
For the EU, India is a stable market registering sustained growth. Merchandise imports from the EU rose more than 11.7% to $5.42 billion in November 2025 compared to $4.85 billion in November 2024. Cumulatively, imports from the EU rose 11.66% to $44.31 billion in April-November 2025 as compared to $39.69 billion in April-November 2024.