Commerce and Industry Minister Piyush Goyal has said that India's free trade agreement (FTA) negotiations with Chile are 'quite ripe for conclusion', while talks with Canada are making very good progress, signalling fresh momentum in India's expanding trade diplomacy. Goyal made the remarks while speaking to reporters during a two-day official visit to the Netherlands.

Key FTA Developments

Goyal outlined the status of multiple ongoing trade negotiations, placing Chile closest to the finish line among India's bilateral FTA partners. Canada was identified as a priority with strong forward movement, while negotiations with the South Africa-led Southern African Customs Union (SACU) — comprising Botswana, Eswatini, Lesotho, Namibia and South Africa — have formally begun following the signing of terms of reference (ToR) in August.

'I can see Chile's quite ripe for conclusion; Canada is making very good progress. We have just started SACU negotiations, so it may take some time,' Goyal said.

Mercosur, Mexico and Latin American Outreach

Beyond Chile and Canada, Goyal noted that Mexico is 'very keen' to pursue an early harvest trade agreement with India. He also expressed hope that continuity of government in Brazil following recent elections would help accelerate negotiations to expand India's Preferential Trade Agreement (PTA) with the Mercosur bloc. This signals a broader India push to deepen trade ties across Latin America, a region that has historically remained underpenetrated in India's trade portfolio.

India-Netherlands Business Forum and Bilateral Talks

During the Netherlands leg of his visit, Goyal met Sjoerd Sjoerdsma, Minister for Foreign Trade and Development Cooperation; Heleen Herbert, Minister of Economic Affairs and Climate; and Arthur van Dijk, King's Commissioner of North Holland. He also addressed the Dutch House of Representatives Committee on Foreign Trade and the Senate Committee on European Affairs.

A centrepiece of the visit was the India-Netherlands Business Forum, jointly chaired by Goyal and Sjoerdsma, which drew approximately 200 participants including leading Indian and Dutch businesses. The forum focused on opportunities arising from the India-EU FTA in expanding bilateral trade, strengthening investment partnerships, and fostering collaboration across sectors.

Semiconductor and Energy Meetings

Goyal held one-to-one sessions with chief executives of Dutch companies spanning semiconductors, electronics, logistics, energy and retail. He also participated in a roundtable with CXOs of 15 Dutch firms organised by the Indian Embassy in The Hague in collaboration with HSBC Netherlands.

Goyal underlined the growing momentum in India-Netherlands relations following the elevation of ties to a Strategic Partnership and the conclusion of the India-EU FTA, stressing the Netherlands' role as a gateway to European markets. As India's FTA pipeline expands, the pace of conclusion — particularly with Chile and Canada — will be closely watched by exporters and industry groups alike.