On this Special Report, Union Minister of Commerce and Industry Piyush Goyal addresses the historic conclusion of the India-European Union Free Trade Agreement (FTA) negotiations. He describes the agreement as a ‘game-changing and transformational visit in terms of the strategic partnership between European Union and India.’ The Minister highlights that this ‘mother of all deals’ covers 25% of global trade and marks India’s eighth FTA under Prime Minister Narendra Modi. The agreement provides unprecedented market access, covering nearly 99% of Indian exports to the EU and over 97% of EU exports to India. Goyal emphasizes that the partnership extends beyond trade into defence, innovation, and financial integration, benefiting one-third of humanity. He notes that the deal addresses economic asymmetries while opening doors for labour-intensive Indian industries and high-tech European sectors, fostering shared prosperity for both regions.
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