In a major boost to India’s trade ambitions, the newly inked Free Trade Agreement (FTA) with the European Union will provide crucial leverage in negotiations with other nations. Industry leaders shared this optimism during discussions on Wednesday.
Speaking exclusively, Mahavir Pratap, ex-CEPC chairman, pointed out the timely nature of the deal. As America turns trade into a geopolitical tool, India’s EU pact arrives perfectly. It promises export growth in key areas, especially with duty-free access to Europe’s vast market—the second largest developed one after the US. Labor-heavy industries like textiles, leather, and carpets stand to gain immensely, spurring employment nationwide.
For coffee exporters, the news couldn’t be better. Srikant Rao of the Indian Coffee Roasters Association described the FTA as transformative. With Europe as the prime destination for Indian coffee, reduced barriers will fuel expansion. The real win, he said, lies in enabling long-term investments in advanced processing and machinery.
After 20 years of tough talks, Tirupur’s K.M. Subramaniam expressed delight. The apparel hub ships Rs 45,000 crore worth of goods yearly, 20% to EU countries. He forecasts a 15% jump in exports right from year one post-implementation.
This powerhouse deal, accounting for a quarter of world GDP and touching 2 billion lives, marks a pivotal moment. It strengthens India’s hand in bilateral pacts, counters global uncertainties, and paves the way for sustained economic prosperity.