Portugal confident India-EU trade deal will enter force in 2027; sees investments growing

New Delhi: Portugal has thrown its weight behind the long-awaited India-EU Free Trade Agreement, with a key minister declaring the pact is now in its “last mile” and on track to take effect on 1 January 2027.

João Rui Ferreira, Portugal’s Secretary of State for Economy, told WION’s Sidhant Sibal that Lisbon had backed the agreement “since day one” and remained a strong supporter. “We believe we are in the last mile now,” he said. “We are confident… it will be in place on the first of January 2027.”

The presence in India of the Presidents of the European Commission and Council, alongside the Trade Commissioner, demonstrated the strength of European commitment, Mr Ferreira added. “In a complex world, in uncertainty [at this] moment, agreements like this will give companies, businesses a new opportunity,” he said, pointing to India’s rapid growth as the world’s fourth-largest economy, on course to become the third.

With its young population and ambitious infrastructure and manufacturing plans under “Make in India” and the 2047 vision, India offers major scope for collaboration, he argued. Portuguese firms could bring know-how in decarbonised industry, clean energy technologies and sustainable manufacturing. “I think we can bring… complementarity to that ambition,” Mr Ferreira said.

Portuguese companies eye infrastructure and tech partnerships. The minister drew a clear distinction between infrastructure and industrial opportunities. Portuguese companies were keen to participate as contractors in energy, electrical systems, waste management and broader infrastructure projects. Industrial firms and a growing cohort of startups showcase the potential in advanced technologies and joint ventures.

“For Portuguese companies to succeed… local partnerships, local joint ventures [are key],” he stressed. “India is a continent, so the market is huge. Companies need to focus on sectors, or regions or cities.”

Mr Ferreira said that the recent reopening of Portugal’s trade and investment agency office in New Delhi is a sign of long-term commitment. “This is just the beginning of a journey,” he said.

Indian companies have been invited to invest in Portugal across several high-growth sectors. Mr Ferreira highlighted space and defence, including satellites, aeronautics and drones; pharmaceuticals and life sciences; advanced manufacturing backed by strong STEM education; battery value chains from lithium to production; data centres; and digital technologies.

Energy stood out as a particular strength. “Eighty per cent of our energy comes from renewable sources at a very competitive price,” he said, describing Portugal as well-positioned for industrial development. Portugal is also open to skilled Indian workers. “Qualified, skilled workers will always have an opportunity in Portugal,” the minister said, citing programmes with companies and sector associations, supported by the embassy and consulate in India.

Mr Ferreira acknowledged the deep historical and cultural ties between the two nations but insisted the focus was now firmly on the future. “We are proud of our history, but we are looking to the future… The numbers are still far from the potential we have and that’s what we want to change,” he said.