Together, India and the EU represent nearly 25 per cent of global GDP and approximately one-third of global trade.
‘Mother of All Deals’: PM Modi Unveils Historic India-EU Trade Pact for 140 Crore Indians
Prime Minister Narendra Modi on Tuesday announced that India and the European Union (EU) have reached a historic understanding on a Free Trade Agreement (FTA). While virtually inaugurating the fourth edition of India Energy Week, the Prime Minister termed the pact the “mother of all deals” and a powerful symbol of cooperation between two of the world’s largest economies.
According to the Prime Minister, the India-EU FTA is a remarkable example of coordination that is expected to unlock vast opportunities for India’s 140 crore citizens and millions across Europe.
Together, India and the EU represent nearly 25 per cent of global GDP and approximately one-third of global trade. PM Modi emphasised that this agreement reinforces a shared commitment to democracy and the rule of law.
The Prime Minister highlighted that the India-EU FTA will complement recently concluded trade deals with Britain and the European Free Trade Association (EFTA). He said that the pact would provide a major boost to manufacturing, services, and innovation, while further strengthening India’s role in global supply chains.
PM Modi reiterated that India is “riding the reforms express”, with transformative changes under way. He called the country a land of opportunities, well-positioned to meet domestic needs and support global demand through this significant trade partnership.
Source: The Tribune
