On 27 January, India and the European Union, two major market economies, concluded pathbreaking agreements at the 16th Summit under the leadership of Prime Minister Shri Narendra Modi, President of the European Council HE Mr António Costa and President of the EU Commission HE Mdme Ursula von der Leyen.

The Free Trade Agreement, the Security and Defence Partnership, the Comprehensive Framework of Cooperation on Mobility and other agreements signed today constitute the foundation of a broader, deeper and stronger partnership.

Prime Minister Modi announced on X, “Today is a day that will be remembered forever, marked indelibly in our shared history.

European Council President António Costa and European Commission President Ursula von der Leyen and I are delighted to announce the conclusion of the historic India-EU Free Trade Agreement. 

This is a milestone in our relations which will: 

Strengthen our economic ties

Create jobs for our youth

Opportunities for our businesses

Foster shared prosperity, 

Build stronger global supply chains.

This landmark deal between the 2nd largest and 4th largest economies of the world promises to create unprecedented opportunities and open new avenues of growth as well as cooperation. This deal will benefit the entire global community. 

It would help create quality jobs in key sectors, enable  further mobility for our youth, professional talent, students and researchers and unlock the potential of the digital age. Importantly, it will foster innovation and  strengthen economic ties for mutual growth.

Together, India and the EU are moving ahead with trust and ambition towards a prosperous as well as sustainable future!

The historic agreement with EU, which is India’s largest Free Trade Agreement in history, has substantial benefits for the 1.4 billion people of India. It will:

Make access to European markets easier for our farmers and small industries.

Create new opportunities in manufacturing.

Further strengthen cooperation between our services sectors”.

 (this article is transferred from the official wechat of the Indian Embassy)  editor/chengliting