Commerce Minister Piyush Goyal visits Spain, Belgium, Finland with a delegation of Indian IT and auto firms to deepen trade ties and investment flows.
Commerce and Industry Minister Piyush Goyal left Sunday for a five-day visit to Spain, Belgium, and Finland, leading a delegation of Indian companies across advanced manufacturing and clean energy.
The trip puts a spotlight on deepening commercial ties between India and the European Union. The read-through is for Indian IT services firms and auto component makers. The delegation's composition mirrors the sectors where India is pushing for export growth and technology partnerships.
In Spain on July 13, Goyal will join a business roundtable with Spanish industry leaders. Spanish companies Iberdrola, Acciona, CAF, Talgo, Gestamp, and Indra already have strong footprints in India. Indian firms expanding in Spain include TCS, Infosys, Wipro, Tech Mahindra, and Larsen & Toubro.
The visit targets deal flow in digital identity and cybersecurity, the commerce ministry said. Indian IT firms have a growing presence in Europe. TCS and Infosys, for example, have large delivery centres in Spain and other EU countries. The push into digital public infrastructure is a specific area where Indian IT has built deep expertise. European governments are investing heavily in digital identity systems, creating a market for Indian IT firms.
Spain is a major auto manufacturing hub. The ministry said the visit aims to deepen supply chain ties in electric vehicle components and rail technology. L&T's engineering division is already active in the European rail market. Spanish rail companies CAF and Talgo are potential partners for Indian rolling stock projects. The electric vehicle supply chain is a priority for both India and Spain.
In Belgium on July 14-15, Goyal holds CEO-level meetings with Alain Queverin of Thales Group and Jean-Christophe Bogaert of Silox Group. Thales is a partner in India's defence and aerospace ecosystem. Silox, a specialty chemicals and recycling group, has major operations in Gujarat. The ministry said the Belgium leg is particularly focused on technology transfer and joint ventures.
The India-EU Business Roundtable and TTC plenary will further focus on foreign direct investment opportunities, trade facilitation, sustainable technologies, and resilient supply chains, the ministry said in a statement.
In Finland on July 16-17, the minister will participate in the India-Finland Business Roundtable and engage with Finnish companies in digitalisation, clean energy, advanced manufacturing, and the circular economy. The ministry said Finnish companies are potential partners for technology upgrades in smart cities and green hydrogen. Finland is a leader in circular economy technologies, an area of growing interest for Indian manufacturing. The ministry said the Nordic focus on sustainability aligns with India's green transition goals.
The visit comes ahead of the next India-EU summit, where a comprehensive trade agreement is back on the table after years of stalled talks. The TTC mechanism has been a key platform for resolving tech-related trade barriers. The ministry said the ministerial visit is a preparatory step for those negotiations.
The ministry said the trip provides a policy tailwind for investors tracking Indian IT stocks. Infosys, which carries an Alpha Score of 57/100 on AlphaScala, has a strong European delivery network. The ministry said the top-tier IT firms are positioned to benefit from any acceleration in EU digital spending. Wipro and Tech Mahindra also have significant European client bases. The ministry said the auto component sector could see similar benefits if the supply chain talks materialise.
The immediate market reaction was muted. Trade missions rarely move stocks on the day. The ministry said the delegation targets high-value sectors where Indian firms have a competitive edge. The next India-EU summit is scheduled for later this year.
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