Piyush Goyal Meets Liechtenstein Deputy PM to Boost Trade, Investment and Technology Cooperation

New Delhi/Brussels, January 7 Commerce and Industry Minister Piyush Goyal on Wednesday held discussions with Sabine Monauni, Deputy Prime Minister and Minister of Foreign Affairs of Liechtenstein, to explore ways to strengthen economic cooperation and deepen bilateral ties between the two countries. The meeting focused on expanding trade, encouraging investment and enhancing collaboration in innovation and clean technology, officials said. After the talks, Goyal said the discussions gained added significance in light of the upcoming operationalisation of the India–European Free Trade Association Trade and Economic Partnership Agreement. He noted that both sides explored new opportunities that could emerge once the agreement comes into force, creating a stronger framework for economic engagement. In a message shared on social media platform X, the minister highlighted the complementary nature of the partnership between India and Liechtenstein. He said India brings talent, scale and growing demand, while Liechtenstein contributes high-value manufacturing and specialised engineering expertise. According to Goyal, this combination offers strong potential to accelerate trade, investment and the flow of advanced technologies between the two sides. The India–EFTA Trade and Economic Partnership Agreement is scheduled to become operational from October 1. The European Free Trade Association comprises four countries—Switzerland, Norway, Iceland and Liechtenstein. Under the agreement, EFTA nations have committed investments worth $100 billion in India over a period of 15 years. This investment commitment is expected to support the creation of around one million direct jobs in the country, strengthening India’s manufacturing and services sectors. Officials said discussions between Goyal and Monauni also touched upon ways to ensure smooth implementation of the agreement and maximise benefits for businesses and industries in both countries. Clean technology, innovation-driven sectors and advanced manufacturing were identified as key areas where cooperation could expand in the coming years. Meanwhile, Piyush Goyal is on an official visit to Europe as part of India’s broader efforts to strengthen trade ties with major economic partners. After his engagement with Liechtenstein, the minister is scheduled to spend two days in Brussels for high-level trade talks aimed at giving fresh momentum to the proposed India–European Union Free Trade Agreement. According to an official statement, the Brussels visit reflects intensifying diplomatic and technical engagement between New Delhi and Brussels. India is seeking improved market access and zero-duty entry for several labour-intensive sectors that generate large-scale employment. These include textiles, leather, apparel, gems and jewellery, and handicrafts, which are seen as critical for boosting exports and supporting small businesses. During his stay in Brussels, Goyal is expected to hold detailed discussions with Maros Sefcovic, the European Union’s Commissioner for Trade and Economic Security. These talks are aimed at providing strategic guidance to negotiating teams, resolving long-pending issues and accelerating progress towards a balanced and ambitious trade agreement. The ministerial-level engagement follows a week of intensive deliberations in Brussels. These discussions built on earlier high-level talks between India’s Commerce Secretary Rajesh Agrawal and Sabine Weyand, Director-General for Trade at the European Commission. Officials said the continuous engagement signals strong political intent on both sides to move negotiations forward. India and the European Union have repeatedly expressed their commitment to concluding a comprehensive and mutually beneficial trade deal. The proposed agreement is expected to strengthen a rules-based trading system while protecting the interests of farmers and micro, small and medium enterprises. It also aims to integrate Indian industries more closely into global value chains and enhance long-term economic cooperation. Overall, Goyal’s meetings in Europe underline India’s active push to expand its global trade footprint. By engaging closely with partners such as Liechtenstein and the European Union, India is seeking to create new opportunities for growth, investment and technology collaboration in an increasingly interconnected global Piyush Goyal Meets Liechtenstein Deputy PM to Boost Trade, Investment and Technology Cooperation Commerce and Industry Minister Piyush Goyal on Wednesday met Sabine Monauni, Deputy Prime Minister and Foreign Affairs Minister of Liechtenstein, to discuss ways to strengthen economic ties between the two countries. The talks focused on expanding trade, promoting investment and increasing cooperation in innovation and clean technology, especially in the context of the India–EFTA Trade and Economic Partnership Agreement. After the meeting, Goyal highlighted the complementary strengths of both nations. He said India offers talent, scale and growing demand, while Liechtenstein brings high-value manufacturing and specialised engineering expertise. Together, these strengths can help accelerate trade, investment and technology flows. The India–EFTA agreement, which includes Switzerland, Norway, Iceland and Liechtenstein, is set to become operational from October 1. Under the pact, EFTA countries have committed investments worth $100 billion over 15 years, which is expected to create around one million direct jobs in India. Goyal is also on an official visit to Europe and will be in Brussels for trade talks aimed at pushing forward the proposed India–EU Free Trade Agreement. India is seeking better market access for labour-intensive sectors such as textiles, leather, apparel, gems and jewellery, and handicrafts.