With the India-EU trade deal, India has gained access to over 99% of its exports to the EU, supporting the ‘Make in India’ initiative. This deal, along with India’s agreements with the UK and the European Free Trade Association, opens up the entire European market for Indian businesses and entrepreneurs.
The historic India-EU trade deal, valued at Rs 6.41 lakh crore ($75 billion), is set to boost exports, especially in sectors like textiles, leather, marine products, gems, and jewelry. Union Minister for Commerce and Industry Piyush Goyal hailed this agreement as a significant milestone in India’s economic engagement and global outlook.
The deal is seen as more than just a trade agreement, representing a comprehensive partnership with strategic implications. India, with its young workforce and fast-growing economy, aims to leverage this deal to create jobs, drive innovation, and enhance its competitiveness globally. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen jointly announced this landmark agreement.
