India–EU FTA Goes Beyond Trade, Builds Framework For Shared Prosperity: PM Modi

New Delhi, Jan 28 (KNN) Prime Minister Narendra Modi on Tuesday described the India–European Union summit as a defining moment in bilateral relations, as he jointly addressed the media with European Commission President Ursula von der Leyen and European Council President António Costa. 

Welcoming the European leaders on what he termed an unprecedented visit to India, the Prime Minister said the summit marked a decisive step forward in ties between the world’s two largest democratic groupings.

Largest Free Trade Agreement for India

Highlighting a major outcome of the summit, the Prime Minister announced the conclusion of the India–EU Free Trade Agreement, describing it as the largest trade pact in India’s history. The agreement brings India into a comprehensive trade framework with all 27 EU member states.

According to the Prime Minister, the FTA will improve market access for Indian farmers and small industries, create new opportunities in manufacturing, strengthen services trade, boost bilateral investment and reinforce global supply chains. He said the agreement represents not just a trade deal, but a broader framework for shared prosperity.

Five-Year Strategic Agenda

Building on the summit’s outcomes, India and the EU agreed to launch a comprehensive strategic agenda for the next five years. Modi said the roadmap would provide direction in a complex global environment, promote shared prosperity, accelerate innovation, strengthen security cooperation and deepen people-to-people ties.

Global Cooperation and Stability

Describing the India–EU relationship as a ‘partnership for the global good’, the Prime Minister said both sides would expand trilateral projects across regions, including the Indo-Pacific and the Caribbean, focusing on sustainable agriculture, clean energy and women’s empowerment. He also referred to plans to develop the IMEC corridor as a key link for global trade and sustainable development.

On global issues, Prime Minister Modi said discussions covered developments in Ukraine, West Asia and the Indo-Pacific. He stressed that respect for multilateralism and international norms remains a shared priority, along with the need to reform global institutions to address emerging challenges.

(KNN Bureau)