Tamil Nadu industrialists expressed confidence in central govt after India-EU FTA: Edappadi Palaniswami
Chennai, January 31
AIADMK General Secretary, Edappadi K Palaniswami, on Saturday said that several industry representatives from Tamil Nadu have contacted him and expressed confidence in the Bharatiya Janata Party-led central government after the India-European Union Free Trade Agreement.
AIADMK is an alliance partner of the BJP for the upcoming Tamil Nadu Assembly elections.
Palaniswami said that industrialists have also expressed confidence that the "forthcoming AIADMK government in Tamil Nadu will effectively complement" the central government's initiatives in the state.
"In the wake of the historic trade agreement signed between India and the European Union, several industry representatives from Erode, Tiruppur, Coimbatore, and surrounding districts personally contacted me to share their enthusiasm and to explain the far-reaching benefits this agreement will bring to their respective sectors," he said in a post on X.
"They expressed firm confidence that the BJP-led Central Government will continue to deliver such growth-oriented reforms, and conveyed their belief that the forthcoming AIADMK government in Tamil Nadu will effectively complement these initiatives by creating a robust, trade-friendly ecosystem in the State," he added.
EPS further lauded PM Modi's efforts to make this "Mother of all deals" a reality.
"At this historic moment, I extend my heartfelt congratulations and sincere appreciation to the Hon'ble Prime Minister of India, Thiru. Narendra Modi Avl, and the Central Government for their decisive leadership in making this landmark trade agreement a reality," he said.
The India-EU FTA was jointly announced on Tuesday by Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa at the 16th India-EU Summit, held during the visit of European leaders to India.
The European Union is one of India's largest trading partners, with bilateral trade in goods and services witnessing steady growth over the years. In 2024-25, India's bilateral trade in goods with the EU stood at Rs 11.5 lakh crore (USD 136.54 billion), with exports valued at Rs 6.4 lakh crore (USD 75.85 billion) and imports at Rs 5.1 lakh crore (USD 60.68 billion). India-EU trade in services reached Rs 7.2 lakh crore (USD 83.10 billion) in 2024.
— ANI
Reader Comments
While the FTA is promising, I hope the alliance politics doesn't overshadow the actual implementation. Tamil Nadu needs infrastructure and policy stability more than anything. Let's see if this confidence translates into real jobs and investment on the ground.
Good step forward. The numbers are impressive – over Rs 11 lakh crore trade with EU. If our industries in Erode and Coimbatore can tap into this properly, it can be a game-changer for the entire state's economy. Kudos to all involved.
As someone working in the export sector in Chennai, this is the kind of long-term vision we need. Free trade agreements level the playing field. Hope the "trade-friendly ecosystem" they promise includes simplifying the crazy amount of paperwork we deal with!
EPS calling it the "Mother of all deals" feels a bit over the top, no? It's a positive development, but let's be measured. The real test is whether it helps the small factory owner in Tiruppur, not just the big industrialists.
Finally some focus on Tamil Nadu's industrial potential from the national narrative! Our state has been an economic engine for decades. A strong partnership between the state and centre on trade can unlock the next level of growth. Vanakkam, Europe! 🇮🇳🇪🇺
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