In a candid assessment, NSE CEO Ashish Chauhan predicts a job revolution from the India-EU Free Trade Agreement. Labor-intensive sectors will find smoother paths to Europe’s vast markets, creating a ripple effect of employment across India.
Chauhan, addressing media on Tuesday, called it the ultimate trade deal, matching the hype from negotiators. India and EU together command a quarter of world GDP, their trade volume at $220 billion split between goods ($135B) and services ($85B). Amid declining global multilateralism, this bilateral push is timely and visionary.
PM Modi’s vision frames the FTA as more than commerce—it’s a prosperity roadmap. Farmers get easier EU entry, SMEs expand manufacturing footprints, and services collaboration intensifies.
Shifting to budget buzz, Chauhan highlighted the government’s fiscal prudence, showcased during the pandemic. Markets crave tax relief on long-term capital gains, securities transaction tax, and short-term gains, but it all depends on prudent revenue management.
The implications are profound. India’s demographic dividend—its vast labor pool—aligns perfectly with sectors like apparel, jewelry, and agro-processing. This pact doesn’t just trade goods; it trades futures, empowering millions with stable livelihoods and propelling economic momentum.