Trade Pact Opens Major Opportunity for Indian Businesses
Prime Minister Narendra Modi strongly backed the newly concluded India-EU Free Trade Agreement, calling it a landmark moment for India’s growth story. Addressing the media during the Parliament session, he urged Indian traders to seize the opportunity and push the country’s best-quality products into European markets. According to Modi, the deal opens doors to one of the world’s largest consumer bases. Therefore, he stressed that quality must remain the top priority for Indian exporters.
Focus on Quality and Global Competitiveness
Modi highlighted that the first mantra for Indian businesses should be quality improvement. He said Indian traders now have direct access to a vast and competitive market. As a result, only high-standard products will succeed. He added that the agreement encourages Indian manufacturers to upgrade capabilities and match global benchmarks. Moreover, he expressed confidence that Indian industries will adapt quickly and strengthen their global presence.
Deal Linked to Youth Aspirations and Self-Reliant India
Importantly, the prime minister connected the trade pact to India’s young population and the vision of Atmanirbhar Bharat. He described the agreement as “free trade for an ambitious India.” He also said it reflects a bright future for the country’s youth. According to Modi, the pact supports innovation, production, and entrepreneurship. Consequently, it can help young Indians find new global opportunities in manufacturing and exports.
What the India-EU Deal Means in Practical Terms
The agreement came during the recent India visit of European Commission President Ursula von der Leyen and European Council President Antonio Costa. The EU has called it the “mother of all deals.” Under the pact, Europe expects exports to India to double. Meanwhile, India will reduce or remove tariffs on several goods, including cars, wine, chemicals, pharmaceuticals, and precious stones. Because of this, many European products could become cheaper in India. At the same time, the EU estimates savings of up to €4 billion annually in duties. Overall, the deal signals deeper economic ties and a stronger India-EU partnership.
