India-EU Ink Historic Trade Deal After 20 Years, MPs Laud Democracy Convergence

Speaking to ANI on Tuesday, Chaturvedi said the agreement underlined the importance of shared values such as democracy, a rules-based international order, and a stable global trade system. She noted that convergence on these principles enabled meaningful cooperation.

"I welcome the free trade agreement and this was long pending for 20 years, for two decades India and European Union had been discussing for a trade deal like this and that finally it has found closure is good for our nations, for European Union nations as well as for us. At the same time, it also establishes that when we have convergences over democracy, global trade order, as well as international rules-based order, then there's a lot that can be achieved. So this trade agreement would be an indicator of that," Priyanka Chaturvedi told ANI.

Expressing hope that the agreement would benefit both sides and promote economic growth, Chaturvedi also congratulated External Affairs Minister S. Jaishankar for his role in steering the negotiations to a successful conclusion.

She further observed that the European Union is currently facing significant challenges in its transatlantic relations and amid rising tariffs imposed by the United States, making the agreement with India even more significant.

"I would just hope that this would benefit both nations, and their populations would continue to thrive under trade and we will continue to have a global trade order. We welcome what comes along with it. At the same time, I would like to congratulate the foreign minister, because he has been trying to reach a negotiation point that has led to this deal. The European Union right now faces its toughest challenge with its transatlantic ally, and even with the USA charging us immense tariffs. So this would be something which we should look forward to," Chaturvedi added.

India and the European Union on Tuesday inked several key agreements and Memorandums of Understanding in the presence of Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa.

Notably, both sides also agreed on a strategy document titled 'Towards 2030 - A Joint India-European Union Comprehensive Strategic Agenda,' reflecting the expanding scope of India-EU strategic cooperation.

India and the EU exchanged several agreements and MoUs, reflecting the wide-ranging, multifaceted cooperation as part of the India-EU Strategic Cooperation.

Among the agreements exchanged was the political declaration on the conclusion of negotiations on the India-EU Free Trade Agreement, signed by Commerce Minister Piyush Goyal and European Union Trade Commissioner Marcos Sefcovic.

The India-EU Security and Defence Partnership document was signed by EU Vice President Kaja Kallas and External Affairs Minister S Jaishankar, while the comprehensive framework on mobility was signed by Vice President of the European Commission, Maros Sefcovic, and EAM Jaishankar, highlighting the wide-ranging and multifaceted nature of India-EU strategic cooperation.

- ANI