New Delhi, Jan 29: Prime Minister Narendra Modi on Thursday said the recently concluded Free Trade Agreement (FTA) between India and the European Union represents the vision of an ambitious and self-assured India, calling on domestic manufacturers to take full advantage of the expanded access to global markets.
Speaking to reporters in the Parliament House complex at the start of the Budget session, Modi said India is moving beyond long-pending challenges and focusing on sustainable, long-term solutions. He emphasised that the government’s approach is centred on delivery and outcomes rather than paperwork.
“India today stands confident and has emerged as a ray of hope for the world,” the Prime Minister said, adding that policymaking under his government remains human-centric, with a strong emphasis on last mile delivery of welfare initiatives.
Highlighting the significance of the India–EU Free Trade Agreement, Modi said the pact opens doors to high quality markets across 27 European nations. He urged Indian industries to scale up manufacturing and competitiveness to capitalise on the new opportunities.
“This agreement provides access to a vast new market. Indian manufacturers should step forward and make the most of it,” he said.
India and the European Union earlier this week announced the successful conclusion of FTA negotiations, often described as one of the most comprehensive trade deals India has signed. Under the agreement, a large share of Indian exports will gain duty-free entry into the EU, while select European goods will see reduced tariffs in India. The pact is expected to connect nearly two billion consumers across both economies.
Referring to President Droupadi Murmu’s address to Parliament, Modi said it reflected the trust and aspirations of 140 crore Indians, particularly the youth. He also noted that Finance Minister Nirmala Sitharaman is set to present her ninth consecutive Union Budget, calling it a landmark moment in India’s parliamentary history and a proud chapter for Indian democracy.