New Delhi. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen have jointly announced the conclusion of the India-EU Free Trade Agreement (India-EU FTA) at the 16th India-EU Summit held during the visit of European leaders to India. Union Home Minister Amit Shah has thanked Prime Minister Modi and congratulated the people of India for this historic achievement. Union Minister Amit Shah wrote on social media platform X that the India-European trade agreement is an important strategic achievement in India’s global trade relations. Exemplifying Prime Minister Narendra Modi’s visionary diplomacy on the global stage, this agreement further strengthens India’s mission of ‘Atmanirbhar Bharat’ through agreements that are win-win for all parties, ensuring mutual benefit and a balanced partnership. Hearty thanks to Modi ji for this historic achievement and congratulations to the people of India.
Let us tell you that this free trade agreement establishes India and the European Union as reliable partners committed to open markets, predictable and inclusive development.
This free trade agreement follows intensive discussions following the resumption of negotiations in 2022. The announcement of the FTA today marks the culmination of years of sustained dialogue and cooperation between India and the EU that demonstrates the political will and shared vision to deliver a balanced, modern and rules-based economic and trade partnership.
The EU is one of India’s largest trading partners, with bilateral trade in goods and services growing steadily over the years. India’s bilateral trade in goods with the EU in 2024-25 was estimated at Rs 11.5 lakh crore (US$136.54 billion), of which exports were worth Rs 6.4 lakh crore (US$75.85 billion) and imports were Rs 5.1 lakh crore (US$60.68 billion). India-EU trade in services sector to reach Rs 7.2 lakh crore (US$83.10 billion) in 2024.
India and the EU are the fourth and second largest economies, accounting for 25 per cent of global GDP and one-third of global trade. Thus, the coming together of two large, diverse and complementary economies will create unprecedented opportunities for trade and investment.
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