Historic India-EU FTA fully aligned with vision of making India developed country: PM Modi

Prime Minister Narendra Modi on Friday said the historic India-EU Free Trade Agreement (FTA) is fully aligned with the vision of making India a developed country.

The Prime Minister’s Office (PMO) shared an article written by Commerce Minister Piyush Goyal, in an English daily, on its social media platform X.

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Earlier in a post on X, Goyal said, “The successful conclusion of the India-EU Free Trade Agreement under the leadership of PM @NarendraModiji is truly a historic milestone. I write how this trade deal will strengthen key sectors of our economy while fostering prosperity, as every region and citizen stands to gain from its many benefits.”

“I also draw a sharp contrast with the UPA era, where agreements were rushed and India often conceded far more than it gained. Now, guided by PM Modi ji’s decisive leadership and strategic vision, deals prioritise India’s core interests while expanding markets, creating jobs, and driving economic growth,” the Commerce Minister further said in the post on X.

Responding to a post by Union Minister Piyush Goyal on X, PM Modi said: “In this must-read article, Union Minister Shri @PiyushGoyal writes about the historic India-EU Free Trade Agreement that fully aligns with the vision of making India a developed country. He highlights that the government has delivered a transformative agreement that expands markets, creates jobs and protects India’s core interests.”

In his article, Goyal has said that the India–EU free trade agreement is a historic milestone in Prime Minister Modi’s economic diplomacy. It will generate millions of jobs, create vast opportunities for India’s youth and farmers, and create wealth for nearly 2 billion people who together account for a quarter of the global economy.

The agreement between the world’s second- and fourth-largest economies is among the biggest trade deals ever signed. In fact, it is far more than a trade deal. It represents a comprehensive partnership that fosters cooperation in critical sectors such as artificial intelligence, defence, and semiconductors. The FTA will benefit every region and citizen of India, the article further said.

The FTA ensures rules-based trade and stability in economic policies, making India even more attractive for domestic and foreign investment. This will create numerous opportunities for small businesses, startups, and workers.

The world has applauded PM Modi’s announcement, calling it the “mother of all deals”. It comes as a breath of fresh air at a tumultuous time for global trade and supply-chain realignment. The agreement positions India and the EU as trusted partners committed to open markets, predictability, and inclusive growth, Goyal has stated.

The deal also eases mobility for businesspersons and professionals and opens new opportunities in services such as education, information technology, financial services, and computers. These commitments unlock high-value employment opportunities and further strengthen India’s position as a global hub for talent, innovation, and sustainable economic growth, the article further said.