By Admin 
There is intense discussion around the world regarding the historic Free Trade Agreement (FTA) between India and the European Union (EU). European Commission President Ursula von der Leyen termed it the ‘Mother of All Deals’ and said that this is just the beginning and the India-EU strategic partnership will become stronger in the times to come. At the same time, Prime Minister Narendra Modi has also described this agreement as opening big opportunities for both the sectors.
‘India and Europe are making history today’: Ursula von der Leyen
European Commission President Ursula von der Leyen, posting on social media platform X, said, ‘Today Europe and India are making history. We have completed the ‘Mother of All Deals’. A free trade zone has been created for two billion people, which will benefit both sides. This is just the beginning. We will further strengthen our strategic partnership.
PM Modi announced signing of FTA
Prime Minister Narendra Modi on Tuesday announced the signing of the India-European Union Free Trade Agreement. Addressing ‘Indian Energy Week’ online, he said, ‘I am telling you about an important development. Yesterday a big agreement was signed between India and Europe. The Prime Minister congratulated everyone on this agreement and said that it is being called the ‘Mother of All Deals’ across the world.
25% of global GDP and one third of trade
PM Modi said that this India-EU agreement covers about 25 percent of global GDP and one-third of global trade. He said that this is a great example of coordination between the two biggest economies of the world.
New opportunities for 140 crore Indians
The Prime Minister said that this agreement will create new opportunities not only for Europe but also for 140 crore Indians. He said that this agreement will complement the trade agreements signed with Britain and the European Free Trade Association (EFTA), which will strengthen global trade and supply chains.
Manufacturing and service sectors will get a big boost
PM Modi said that this free trade agreement will give new impetus to India’s manufacturing sector and will also expand the service sector. He especially congratulated the youth and businessmen associated with sectors like textiles, gems and jewellery, leather and footwear.
The trust of world investors on India will become stronger
The Prime Minister said that this agreement will further increase the confidence of businesses and investors around the world in India. He stressed that today India is moving forward with global partnership in every field.