Union Commerce and Industry Minister Piyush Goyal concluded a five-day visit to Spain, Belgium, Finland, and Estonia from July 13-18, 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 business-to-business engagement, building on momentum from the successful conclusion of India-EU Free Trade Agreement negotiations.
In Spain, Minister Goyal held discussions with Economy Minister Carlos Cuerpo Caballero and Industry and Tourism Minister Jordi Hereu Boher. Key outcomes included proposing an annual India-Spain Joint Commission meeting with business participation, while Spain proposed establishing a dedicated "India Team" to facilitate bilateral engagement. Both sides agreed to advance technical discussions 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. Discussions also covered investment facilitation, mobility of professionals, and joint investments in Latin America. Minister Goyal welcomed the C-295 aircraft program 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, Minister Goyal co-chaired the 3rd India-EU Trade and Technology Council Ministerial Meeting. The 2026-27 TTC Action Plan was adopted, and 21 additional Indian fishery establishments were listed, 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. During 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, both sides reaffirmed commitment to early signing and implementation of the India-EU FTA. Discussions covered negotiations on Investment Protection Agreement, Geographical Indications Agreement, cooperation on Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, and duty derogation for Basmati rice and steel scrap. Minister 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 Riikka Purra and Economic Affairs Minister 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. Minister Goyal met with leadership of KONE and Nokia, encouraging significant expansion of manufacturing, R&D, exports, and digital infrastructure investments in India. He invited Finnish companies to establish manufacturing bases in India to serve global markets and deepen collaboration in telecom technologies, data centers, cloud computing, and workforce development.
In Estonia, the first ministerial-level visit since India's resident Embassy opened 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, Minister Goyal encouraged expansion of cooperation in cybersecurity, blockchain, clean energy, and green hydrogen. Estonia highlighted its role as a gateway to the Nordic and Baltic region and expressed interest in partnering with India's digital economy.
Throughout the visit, Minister Goyal held extensive interactions with business leaders, industry associations, and investors across all four countries, focusing on building resilient supply chains, facilitating investments, strengthening innovation partnerships, promoting manufacturing collaboration, and expanding opportunities for Indian MSMEs and startups. He encouraged European businesses 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.