The prime minister underlined that this agreement with 27 countries will benefit Indian startups by easing access to funding and innovation ecosystems, while also boosting India’s creative economy in film, gaming, fashion, digital content, music, and design.
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Describing the historic India-EU Free Trade Agreement (FTA) as a global gamechanger, Prime Minister Narendra Modi on Wednesday said the deal will create new opportunities for Indian youth in research, education, IT, and professional services.
The prime minister underlined that this agreement with 27 countries will benefit Indian startups by easing access to funding and innovation ecosystems, while also boosting India’s creative economy in film, gaming, fashion, digital content, music, and design.
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Modi was speaking at the annual NCC PM Rally at the Cariappa Parade Ground here.
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Pointing out that the agreement is called the “Mother of All Deals” also because of its vast benefits, PM Modi underscored it will accelerate the Atmanirbhar Bharat campaign and strengthen the resolve of “Make in India, Make for the World.”
He explained that under this agreement, tariffs on more than 99 per cent of India’s exports will either be zero or very low, benefiting industries such as textiles, leather, gems and jewellery, footwear, engineering goods, and MSMEs.
Recalling his words from the Red Fort, stating that this is the right time, the best time, the Prime Minister emphasised that today’s era is one of maximum opportunities for the youth of India.
PM Modi said that the government is committed to ensuring that young people benefit the most from this period, citing the historic Free Trade Agreement reached between India and the European Union as an example.
He added that prior to this, India had signed Free Trade Agreements with Oman, New Zealand, Britain, UAE, Australia, and Mauritius, all of which are creating countless opportunities for millions of youth.
Describing the FTA with the European Union as a global gamechanger, he emphasised that it represents one-fourth of the world’s GDP and one-third of global trade, and is truly a “Freedom to Aspire” for India’s youth. The deal will create new opportunities for Indian youth in research, education, IT, and professional services.
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