An Irish MEP has said that a potential trade deal between the EU and India can "open up enormous opportunities" for Irish farmers and businesses.

However, Barry Cowen said that this deal "must be fair and sustainable" for farmers.

Cowen said that he has accepted an invitation to participate in a European Parliament trade delegation to India later this month as negotiations on a new trade and investment deal "reach a critical stage".

The delegation will be in India from October 27-29, and will include meetings with the country's ministers of external affairs and commerce and industry, as well as industry stakeholders.

Negotiations between the EU and India on a trade deal resumed in 2022 after an eight-year hiatus. According to Cowen, these talks are now "edging towards a conclusion".

The Midlands-North-West MEP said that there are some challenges in the talks, including agriculture, as well as India's apparent resistance to the EU's Carbon Border Adjustment Mechanism (CBAM).

However, Cowen also said that recent briefings to MEPs have indicated that progress on these issues is possible.

He said that a deal with India would be "one of the most important concluded in recent years", and would be seen as a positive step in light of global trade uncertainty.

India recently overtook China as the world's most populated country, with about 1.417 billion people.

Cowen said a trade deal with the country would offer opportunities for several Irish exports, including drinks, dairy, and nutrition.

Irish whiskey exports to India have grown tenfold in the last five years, while Irish dairy and nutrition products face high tariffs that a trade deal could ease.

He said that he has already spoken to representatives in these sectors to talk about his priorities for the trip.

"This mission will be about strengthening economic and political links at a pivotal moment. A deal between the EU and India could open enormous opportunities for Irish farmers and businesses, but it must be fair and reasonable," Cowen said.

"A deal would be good news for Irish farmers and agri-food producers, whether it is whiskey, spirits, dairy, beef or other high-value products. But it is also essential that Europe does not give away the protections that our farmers depend on," the MEP said.

He added: "Ireland has a particular interest in ensuring that tariffs on our world class-food and drink exports are reduced. At the same time, Europe must hold firm on standards around food safety, sustainability and fair competition."