Union Minister of Commerce and Industry Shri Piyush Goyal concluded a five-day visit to Spain, Belgium, Finland, and Estonia from 13–18 July 2026, accompanied by a high-level Indian business delegation. The visit aimed to deepen India's economic partnership with Europe, expand investment linkages, strengthen technology cooperation, and promote greater business-to-business engagement, building on the momentum from the successful conclusion of India–EU Free Trade Agreement negotiations.
In Spain, Shri Goyal held discussions with First Vice-President and Minister of Economy, Trade and Business Carlos Cuerpo Caballero and Minister of Industry and Tourism Jordi Hereu Boher. They agreed to establish an annual India–Spain Joint Commission meeting with business participation, while Spain proposed a dedicated "India Team" to facilitate bilateral engagement. Technical discussions were advanced on interoperability between India's Unified Payments Interface (UPI) and Spain's Bizum digital payments platform. Significant collaboration opportunities were identified in automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism, and infrastructure. Shri Goyal welcomed the C-295 aircraft programme under 'Make in India' and progress on Migration and Mobility Partnership and Social Security Agreement. At the India–Spain Business Forum, he outlined an ambitious "10×10×10" vision to increase bilateral trade, investment, and tourism tenfold over the next decade.
In Brussels, Shri Goyal co-chaired the 3rd India–EU Trade and Technology Council Ministerial Meeting, welcoming the adoption of the 2026–27 TTC Action Plan and the listing of 21 additional Indian fishery establishments, bringing the total approved Indian establishments to 625. India raised the issue of listing Indian ship recycling yards and proposed launching an India–EU dialogue on skills, education, and talent mobility. Meetings with European Council President António Costa, Trade Commissioner Maroš Šefčovič, Climate Commissioner Wopke Hoekstra, Agriculture Commissioner Christophe Hansen, and INTA Committee Chair Bernd Lange reaffirmed commitment to early signing and implementation of the India–EU FTA. Discussions covered Investment Protection Agreement and Geographical Indications Agreement negotiations, Carbon Border Adjustment Mechanism cooperation, regulatory simplification, market access for agricultural products, and duty derogation for Basmati rice and steel scrap. Shri Goyal proposed dedicated plug-and-play industrial clusters for Belgian companies and explored strategic defense collaboration with Thales in counter-drone technologies and electronic warfare.
In Finland, meetings with Acting Prime Minister and Minister of Finance Riikka Purra and Minister of Economic Affairs Sakari Puisto focused on expanding cooperation in artificial intelligence, 6G, quantum technologies, clean energy, circular economy, advanced manufacturing, and innovation. Both sides recognized opportunities for co-development and co-manufacturing combining India's scale and talent with Finland's technological capabilities. Discussions covered university partnerships, startup collaboration, talent mobility, and research cooperation. Meetings with KONE and Nokia leadership encouraged significant expansion of manufacturing, R&D, exports, and digital infrastructure investments in India, with invitations to establish manufacturing bases to serve global markets.
In Estonia, the first ministerial-level visit since India's resident Embassy opening in Tallinn in 2021, discussions with Foreign Minister Margus Tsahkna explored cooperation in digital governance, fintech, UPI integration, e-residency, cybersecurity, and emerging technologies. Estonia expressed strong support for early implementation of India–EU FTA and invited India to participate in the Estonia Digital Summit. At the India–Estonia Business Forum, cooperation was encouraged in cybersecurity, blockchain, clean energy, and green hydrogen, with Estonia highlighting its role as a gateway to Nordic and Baltic regions.
Throughout the visit, extensive interactions with business leaders, industry associations, and investors focused on building resilient supply chains, facilitating investments, strengthening innovation partnerships, promoting manufacturing collaboration, and expanding opportunities for Indian MSMEs and startups. European businesses were encouraged to leverage India's growing economy, large domestic market, digital public infrastructure, skilled workforce, and stable policy environment to establish India as their preferred manufacturing, innovation, and export hub.