Strategic Leap: India-EU Free Trade Agreement

The India-EU Free Trade Agreement, hailed as a 'strategic breakthrough', aims to enhance Indian access to global markets. It promises expanded opportunities for Indian industries, notably boosting MSMEs and exports. This historic pact also includes agreements on security, defence, and talent mobility between India and the EU.

The signing of the India-EU Free Trade Agreement (FTA) has been celebrated as a 'strategic breakthrough' by key partners of India's ruling NDA, including the JD(U) and the Telugu Desam Party. This agreement is viewed as a 'mother of all deals' that propels Indian enterprise onto the global stage.

Prime Minister Narendra Modi, alongside the top EU leadership, unveiled a plan to leverage trade and defence for stronger bilateral ties amid global uncertainties. The landmark agreement aims to bring major global economies together, boosting resilient partnerships and unlocking massive export potential valued at USD 75 billion.

The FTA is expected to benefit several sectors, such as seafood and agri-commodities, while enhancing opportunities for MSMEs, women, artisans, youth, and professionals. Additionally, crucial pacts on security and talent mobility were inked, further cementing the historic occasion as a significant step for India's global economic and strategic positioning.

(With inputs from agencies.)