India-EU Trade Pact Lauded by Modi as Model of Cooperation
Historic Free Trade Agreement set to boost investment, manufacturing, and services in India and EU
New Delhi, Jan 27: Ahead of the 16th India-EU Summit, Prime Minister Narendra Modi on Tuesday hailed the newly signed trade agreement between India and the European Union, calling it the “mother of all deals” and a perfect example of partnership between two major global economies.
“Yesterday a big agreement was signed between the European Union and India. People are calling this the mother of all deals,” Modi said.
The Prime Minister highlighted that the India-EU trade pact accounts for 25 per cent of global GDP and one-third of global trade, offering significant opportunities for people in both regions. “This is a perfect example of a partnership between two major economies of the world,” he added.
Modi also emphasised that the agreement reinforces the shared commitment of India and the EU to democracy and the rule of law. He noted that the Free Trade Agreement complements Britain and EFTA’s existing trade agreements, further strengthening India’s global economic ties.
According to the Prime Minister, the pact is expected to boost manufacturing in India while expanding the services sector. “The Free Trade Agreement will boost the confidence of every investor and businessman to invest in India,” he said, underlining the deal’s potential to enhance economic growth and bilateral trade relations.
