In a major boost for Maharashtra’s export ambitions, Chief Minister Devendra Fadnavis has hailed the India-EU Free Trade Agreement as a game-changer. Speaking on Tuesday, he outlined how the state will reap enormous rewards from this pact under PM Modi’s visionary guidance.
Key industries poised for explosive growth include apparel and textiles, engineering products, pharma, chemicals, medical equipment, auto parts, metals, electronics, and jewelry. ‘Expect sharper competition and wider global reach,’ Fadnavis said, adding that farmers will see direct benefits through better market access for agri-exports.
On social media platform X, he described the FTA as the ‘mother of all trade deals,’ connecting India to Europe’s economic powerhouse—27 countries with a quarter of world GDP. This unlocks preferential tariffs for nearly all Indian exports, forecasting a boom in Rs 6.41 lakh crore worth of shipments, particularly labor-heavy sectors like leather goods, marine products, and precious stones.
Agricultural exports and processed foods get a massive fillip, empowering farmers along the value chain. Enhanced mobility provisions open doors for Indian talent worldwide, cementing India’s economic stature.
Fadnavis called it a ‘strategic milestone’ fortifying India’s global identity while elevating Maharashtra’s role in trade-driven progress.
Timing couldn’t be better: Just days after inking Rs 30 lakh crore MoUs at Davos, Maharashtra eyes another Rs 7-10 lakh crore infusion. Deals cover cutting-edge fields from AI and semiconductors to green energy, EVs, fintech, and textiles. Notably, 83% direct FDI, with collaborations from 18 nations including the US, UAE, and Germany.