NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday said India and the US have concluded most of the discussions on their bilateral trade agreement and are fine-tuning the pact, even as he urged Dutch businesses to seize opportunities in India’s expanding infrastructure, clean energy, semiconductor and data centre sectors.
“We have concluded most of the discussions and are fine-tuning the agreement,” Goyal said at the India-Netherlands Business Forum in Amsterdam, reiterating that negotiations on the first phase of the India-US bilateral trade agreement (BTA) are nearing completion. The two countries had announced the finalisation of a framework for the first phase in February, but subsequent changes in the US tariff landscape necessitated further negotiations.
Addressing Dutch businesses, Goyal said India’s expanding network of free trade agreements (FTAs) was opening up access to a much larger share of the global economy. India has concluded nine FTAs or bilateral trade agreements in the past four-and-a-half years, he said, adding that eight more negotiations were currently under way.
“India would be opening its doors to $85 trillion out of $115 trillion of global GDP,” Goyal said, pitching the country as a manufacturing and investment destination for Dutch companies seeking scale, skilled talent and reliable supply chains.
The minister said the India-EU free trade agreement would further widen market access and create opportunities for businesses on both sides. He urged companies to look beyond traditional trade and pursue partnerships in manufacturing, technology and infrastructure.
“Co-create, co-manufacture and co-invest between Netherlands and India,” he said, describing the two economies as complementary rather than competing with each other.
He identified semiconductors, green hydrogen, maritime cooperation, agriculture and food processing, water management and resilient urban infrastructure as promising areas for collaboration.
The Dutch Minister of Foreign Trade and Development Cooperation Sjoerd Sjoerdsma meanwhile, said the two countries should translate the momentum generated by recent high-level engagements into concrete business partnership. He said the Netherlands’ strengths in innovation, connectivity and water management could complement India’s talent, skills and economic scale.
The Dutch minister confirmed that he would visit India in January 2027 with a business delegation, following Goyal’s invitation. He said the level of trust between the two countries was at an all-time high and that closer commercial engagement could help both economies navigate an increasingly uncertain global trading environment.
“Where there is trust, there will be economic relations,” he said in a media interaction on the sidelines of the forum.
Responding to the often repeated criticism of plethora of regulations in the EU, the Dutch minister said the European Commission was pursuing a deregulation agenda but argued that rules protecting consumers, product quality, climate objectives and product safety remained necessary. Regulations that unnecessarily hinder trade, however, should be reviewed, he said.
He also stressed the potential for deeper maritime cooperation, including stronger links between Rotterdam and Indian ports. Both countries depend significantly on international trade, he said, making efficient logistics and greener transport corridors important areas for cooperation.
He cited existing engagement between the Port of Rotterdam and Indian ports, and said Goyal’s visit to Rotterdam could lead to concrete steps to strengthen these links.
Source: The Financial Express
