New Delhi, Apr 4 (PTI) The Ministry of External Affairs on Friday said India is hopeful that Free Trade Agreement (FTA) with the European Union will be finalised soon.

During the recent visit of College of Commissioners, led by European Commission President Ursula von der Leyen, she and Prime Minister Narendra Modi had decided to direct their teams to finalise the FTA within this year, said Secretary West, Ministry of External Affairs (MEA), Tanmaya Lal.

Also Read | PM Narendra Modi Gifts Sarnath Buddha to Thailand King Maha Vajiralongkorn, Brocade Silk Shawl to Queen (See Pics).

"So, that has been a very clear direction. And the negotiations are ongoing. Both the teams are taking forward the process in a very strong manner and we are very hopeful that the FTA will be finalised soon," Lal said.

The visit had taken place earlier in February when both sides agreed to seal a much-awaited free trade deal by this year and boost technology and defence cooperation.

Also Read | President Droupadi Murmu on State Visits to Portugal, Slovakia From April 7-10: MEA (Watch Video).

The deadline for concluding the trade deal that would be the largest of its kind globally came over 17 years after the two sides first began negotiations for it. The talks for the pact was re-launched in June 2022 after they were suspended in 2013.

The visit to India by the EU Commission chief, accompanied by the College of Commissioners or senior political leaders of the bloc's member nations, came days after US President Donald Trump threatened the bloc with 25 per cent tariffs.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)