Prime Minister Narendra Modi hailed the conclusion of the India-EU Free Trade Agreement as a significant milestone in their relations. He expressed gratitude to European leaders for their constructive spirit in achieving this deal. PM Modi emphasized that the agreement will enhance economic ties, create opportunities, and strengthen the partnership between India and Europe for a prosperous future.
The free trade agreement between India and the EU is seen as a crucial step forward, opening new avenues for growth, investment, and strategic cooperation. PM Modi, during a joint press conference, highlighted that this landmark partnership will bring forth fresh opportunities for businesses, consumers, and the skilled workforce.
Commerce and Industry Minister Piyush Goyal noted that the 16th India-EU Summit will be remembered for uniting the world’s fourth and second largest economies in a new chapter of global trade. He emphasized that the agreement will unlock opportunities across various sectors, benefiting both sides and contributing to growth and prosperity.
The FTA provides unprecedented market access for over 99% of India’s exports by trade value while safeguarding sensitive sectors and supporting India’s developmental goals. With a combined market worth over Rs 2,091.6 lakh crore ($24 trillion), the agreement is expected to boost trade and innovation, benefiting the 2 billion people of India and the EU.
