Indian Economy News

India-EU FTA to Open New Opportunities in Trade and Technology: Prime Minister Mr. Narendra Modi

India-European Union Free Trade Agreement (FTA) will open new opportunities in trade, technology, manufacturing and resilient supply chains, while strengthening India’s position as a trusted economic partner for Europe, stated by Prime Minister Mr. Narendra Modi. Addressing the European Round Table for Industry (ERT) in Gothenburg, Sweden, he underlined the growing strategic convergence between India and Europe and said that trusted partnerships are becoming more important in an uncertain global environment. The Prime Minister also said that connectivity initiatives such as the India-Middle East-Europe Economic Corridor will further deepen India-Europe business cooperation and add fresh momentum to economic ties between the two sides.

Projecting India as one of the world’s most attractive destinations for investment and manufacturing, supported by rapid economic growth, next-generation reforms, digital public infrastructure and a fast-expanding infrastructure sector. Reiterating the government’s “Design for India, Make in India and Export from India” vision, he invited European companies to strengthen their engagement with India. He also said India and Europe should work together to build diversified and resilient supply chains, with collaboration in artificial intelligence, semiconductors, electronics, telecom infrastructure, clean energy, mobility, healthcare and deep-tech manufacturing. Further, highlighted talent mobility, education and skill partnerships, describing India’s young workforce as a key strength for future global growth. The interaction was attended by Swedish Prime Minister Mr. Ulf Kristersson, European Commission President Ms. Ursula von der Leyen, senior European industry leaders and representatives of leading Indian and European companies. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.