Prime Minister Narendra Modi on Thursday described the India–European Union Free Trade Agreement (FTA) as a landmark step for India’s ambitious youth and the vision of atmanirbhar Bharat. He urged Indian traders and manufacturers to focus on delivering the best quality products to take advantage of the newly opened European market.
Addressing the media at Parliament, Modi said the agreement marked a promising direction for India’s economic future. He emphasized that the trade pact reflects confidence in India’s manufacturing capabilities and would help domestic industries become more competitive on the global stage.
Calling it free trade for an aspirational and self-reliant India, the prime minister said Indian manufacturers were well-positioned to enhance their capacities and expand exports under the agreement. He added that the deal was a major step towards building a confident, productive, and globally competitive economy.
The remarks came shortly after India and the EU formally announced the trade agreement during a high-level visit by European leaders. The pact is expected to deepen economic ties between India and the 27-nation bloc.
Under the agreement, India will reduce or eliminate tariffs on several European products, while Indian exporters will gain improved access to EU markets. The deal is also expected to make certain European goods more affordable for Indian consumers and significantly boost bilateral trade.
