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India-EU FTA a 'Game-Changer' for Trade, Security & Climate Ties

External Affairs Minister S. Jaishankar has hailed the newly signed India-EU Free Trade Agreement as a transformative, "game-changing development" for the bilateral partnership. The deal, concluded at a summit involving Prime Minister Narendra Modi and EU leaders, is expected to significantly enhance trade, investment, and supply chain resilience. Leaders from both sides emphasized the agreement's role in driving shared prosperity, green transition, and cooperation in areas like security, defence, and technology. They are now committed to its full implementation and completing related negotiations on investment and geographical indications.

Key Points: India-EU Free Trade Agreement Signed, Hailed as Milestone

  • Landmark trade deal concluded
  • Deepens security & defence ties
  • Promotes sustainable supply chains
  • Drives cooperation on tech & climate
2 min read

India-EU FTA 'game-changing development' in bilateral ties, says EAM Jaishankar

EAM Jaishankar calls India-EU FTA transformative. Deal aims to boost trade, supply chains, and cooperation in defence, tech, and climate.

"the FTA has been a game changing development for our partnership - S. Jaishankar"

New Delhi, Feb 6

Highlighting the growing partnership between India and the European Union, External Affairs Minister S. Jaishankar on Friday described the signing of the Free Trade Agreement as a transformative milestone in bilateral ties while addressing the India-EU forum.

He also underlined the potential for deeper cooperation between India and the EU in areas including security, defence, climate, technology and talent flows.

"Addressed the inaugural India-EU Forum this morning. Highlighted that the FTA has been a game changing development for our partnership. Also flagged other dimensions that hold great potential, including security, defence, climate, technology and talent flows. Hope that the India-EU Forum promotes more conversations and creates greater convergences between India and the EU," EAM posted on X.

Earlier on January 27, Prime Minister Narendra Modi, along with European Council President Antonio Costa and European Commission President Ursula von der Leyen, hailed the successful conclusion of negotiations of the landmark India-EU FTA.

"This historic deal is a milestone in the India-EU Strategic Partnership that will significantly enhance bilateral trade and investment ties, drive shared prosperity, strengthen resilient and diversified supply chains, and support sustainable and inclusive growth," read a joint statement issued after the 16th India-EU Summit co-chaired by the three leaders.

The leaders emphasised the central role of the World Trade Organisation (WTO) in the multilateral trading system and global trade governance and underlined that meaningful, necessary, and comprehensive reform of the WTO is essential to improve its functions so that it is better suited to advance all members' objectives.

In the context of global uncertainty and disruptions, closer economic ties between India and the EU are more important than ever to drive growth, job creation, green transition, industrial development, and more resilient, sustainable and trustworthy supply chains, the statement said.

The leaders of India and the EU are committed to ensuring the full implementation of the FTA. Additionally, they tasked their respective teams to complete negotiations, at the earliest opportunity, on an Investment Protection Agreement (IPA) and on an Agreement on Geographical Indications (GIs). They committed to work on scaling up bilateral investments and engage in discussions on Blue Valleys to accelerate private sector engagement in strengthening select value chains, the joint statement said.

- IANS

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Reader Comments

P
Priya S
Finally! This has been in the works for so long. The focus on talent flows is crucial. It should make it easier for Indian professionals to work in Europe and for European companies to hire here. A win-win for skilled workers.
R
Rahul R
Good news, but we must ensure our farmers and small industries are protected. Sometimes these big agreements favor large corporations. The government needs to be very transparent about the details.
S
Sarah B
As someone working in renewable energy, the cooperation on climate and green transition mentioned is the most exciting part. Partnering with EU tech can really accelerate India's sustainable development goals.
V
Vikram M
Strategic autonomy is key. While this partnership is great, we must ensure it doesn't come with political strings attached. India's foreign policy should always prioritize our national interest first. Jai Hind.
K
Karthik V
The supply chain part is a game-changer. After the global disruptions, having more reliable partners in Europe will make Indian manufacturing more resilient. Hope we see more 'Make in India' products going to EU shelves soon!

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