Piyush Goyal Holds Talks With Global Firms, Says Trade Pacts Have ‘Opened European Market’ to India

Union Commerce and Industry Minister Piyush Goyal has used his visit to the Netherlands to press India’s case with European industry. He met executives of ASML, Nexperia, IKEA parent Ingka Group and Power2X on investment, technology and supply chains, and said India’s trade agreements with the European Union, the UK and the European Free Trade Association (EFTA) will unlock investment, technology partnerships and jobs.

‘THE ENTIRE EUROPEAN MARKET’

Speaking to ANI in The Hague, Goyal said there is “great enthusiasm” in Europe and among Indian businesses over the India-EU Free Trade Agreement. “We are leading delegations to various European nations,” he said. “The Indian industrial sector is seen as holding immense potential. These agreements will pave the way for large-scale investments and extensive technological collaborations.”

He pointed to opportunities in labour-intensive industries, services, education and technology. “Through our agreements with the European Union, including the EFTA nations and the UK, we have effectively opened the entire European market to Indian industry,” he said.

The pacts, Goyal said, will contribute to Prime Minister Narendra Modi’s vision of a Viksit Bharat by 2047 and create opportunities for farmers, the fishing community, micro, small and medium enterprises (MSMEs), and educational and technological institutions.

He was confident they would draw substantial investment and generate jobs on a large scale. “There is immense potential between European countries and India,” he said. “They are as excited as Indian companies. Together we believe we will not only be efficient for each other and good for each other, but we will also capture global markets.”

CHIPS, SOFAS AND GREEN HYDROGEN

In posts on X, Goyal laid out his meetings:

ASML: With Wayne Allan, Executive Vice President and Member of the Board of Management, he discussed deeper engagement in advanced semiconductor technologies, innovation and skilling. “With a strong policy push in India, growing investments, and an expanding talent pool, we explored avenues for collaboration,” he said, to strengthen India’s position in the global chip value chain.

Ingka Group (IKEA): With CEO Juvencio Maeztu, the talks centred on India’s growing consumer market and its manufacturing capabilities. Goyal said IKEA can use India’s manufacturing base to strengthen its global sourcing network, and the group is also looking at expanding its presence and investments in the country.

Nexperia: With interim CEO Stefan Tilgner, he discussed greater collaboration in semiconductors. He said India’s expanding electronics manufacturing and technology ecosystem offers scope for stronger partnerships and more resilient chip supply chains.

Power2X: With Founder and CEO Occo Roelofsen, he discussed India-Netherlands cooperation in green hydrogen, renewable energy and emerging technologies, aimed at mutual growth and shared clean-energy ambitions.

The meetings come as India seeks a larger role in global semiconductor supply chains, more investment in manufacturing and partnerships in emerging energy technologies.

3,500 REGISTRATIONS ON THE INDIA-US TRADE PORTAL

Back home, Goyal said the India-US Trade Facilitation Portal has logged around 3,500 registrations within a few months of its launch. In a post on X, he called the response “encouraging” and the platform “a landmark initiative seamlessly connecting businesses on both sides.”

It will open up new opportunities, he said, particularly for MSMEs and first-time exporters “to forge partnerships, explore new markets & expand their global reach.”

The portal is a digital business-to-business marketplace launched by the Consulate General of India in New York with other Indian consulates in the US and the Embassy of India in Washington DC.

It connects Indian exporters with US buyers, who can browse Indian offerings across sectors. Features include category-wise product listings, a search function and personalised dashboards to track trade activity, business leads, sales performance and user engagement. It also hosts virtual exhibitions and curated showcases for networking and sector-specific opportunities.

With inputs from ANI