Ireland’s Consul General in Mumbai, Patrick Duffy, expressed strong optimism about the European Union-India free trade agreement, emphasizing its potential to boost trade between the two regions. The agreement, involving a trade zone of two billion people, has been hailed as a significant achievement by leaders like President Ursula von der Leyen and Minister Piyush Goyal. Currently, trade between the EU and India amounts to over 180 billion euros annually, with nearly 10% attributed to trade between India and Ireland.
The Consul General highlighted the mutual benefits of the agreement, noting that India stands to gain access to the vast European market of 450 million consumers. He emphasized the eagerness of the EU to engage with India across various sectors, including technology, innovation, textiles, gems, jewelry, and pharmaceuticals. Additionally, European companies are expected to benefit from reduced tariffs on products like cars, wine, olive oil, spirits, and whiskey in the Indian market.
Duffy underscored the potential for expanded business opportunities between Ireland and India, particularly in high-end services such as AI, life sciences, pharmaceuticals, and fintech. He also mentioned the importance of fostering cooperation in areas like film, culture, research, and innovation. Ireland aims to strengthen ties in cybersecurity, software development, and higher education, recognizing the significance of collaboration in the technology and innovation space.
