New Delhi, Jan. 27 -- Commerce and Industry Minister Piyush Goyal has said that the India-EU Free Trade Agreement, which was finalized on Tuesday, will open massive opportunities and while European Union has opened up many new sectors, India will open its doors for greater import of auto components, automobiles, wines, spirits and some other areas.

Piyush Goyal, who addressed a joint press conference, said both sides have ensured that sensitive items are kept out of the ambit or given a sufficient transition period for adjustment of the industry and economic cycles.

He said the India-EU FTA is "our eighth free trade agreement" under Prime Minister Narendra Modi.

He said the agreement covers almost 99% of the total exports that are sent...