Lithuania’s Ambassador to India, Diana Mickeviciene, praised the proposed European Union–India Free Trade Agreement (FTA) as a groundbreaking and transformative pact, labeling it the “mother of all deals” due to its vast scale, scope, and geopolitical significance.
In an exclusive interview, Mickeviciene expressed strong enthusiasm on behalf of Lithuania and the wider EU, emphasizing that the agreement transcends a typical trade deal by uniting the two largest trading blocs in the world and promoting democratic trade relations in an increasingly uncertain global landscape.
Mickeviciene highlighted the immense opportunities the FTA will create for businesses on both sides, noting India’s crucial role in global supply chain diversification and the potential for the agreement to further enhance this role. She stressed the strategic importance of closer economic integration between the EU, a major player in global supply chains, and India, especially as India expands its network of FTAs.
The Ambassador underscored the unprecedented size and openness of the EU–India FTA, commending India’s progress in trade engagement and expressing optimism for the future of economic ties between the EU and India. She pointed out the significant benefits for Lithuania, a smaller economy that has experienced substantial growth by participating in the EU’s economic area and free trade framework.
Bilateral trade between Lithuania and India currently stands at around €400 million annually, falling below its potential, according to Mickeviciene. She highlighted the sectors covered by the proposed FTA and the plans to inform businesses about reduced tariffs, simplified procedures, and improved market access once the agreement is implemented.
Mickeviciene also emphasized Lithuania’s strong purchasing power and the interest of Lithuanian consumers in accessing a wider range of high-quality Indian goods. She lauded the unprecedented level of mutual market access offered by the agreement, describing it as unique for both the EU and India.
The Ambassador viewed the EU–India FTA as a viable alternative amid rising global trade tensions and tariff measures by the United States, noting the underdeveloped trade volumes between the EU and India despite their significant shares in global trade. She highlighted the potential for substantial growth in trade in goods and services under the agreement, with forecasts suggesting a doubling of trade within six years.
Regarding the implementation of the FTA, Mickeviciene expressed confidence in the process, citing strong political will on both sides and ongoing technical cooperation to enhance interoperability between EU and Indian institutions. She anticipated enhanced market access benefiting Lithuanian exports and providing new opportunities for Indian goods and services in Lithuania, contingent on meeting quality and competitiveness standards.
