Commerce and Industry Minister Piyush Goyal described the India-European Union Free Trade Agreement as a historic milestone, drawing a sharp contrast with the approach followed during the UPA era, when trade agreements were rushed and India often conceded more than it gained.
Goyal said the India-EU FTA reflects a decisive shift in India’s trade strategy, one that prioritises national interest while expanding global market access. He noted that the agreement is designed to strengthen key sectors of the economy and ensure that its benefits reach every region and citizen.
Highlighting the policy transformation under Prime Minister Narendra Modi’s leadership, the minister said India’s trade negotiations are now guided by strategic clarity, long-term vision and economic self-interest. Unlike earlier agreements, current deals aim to create jobs, boost manufacturing, expand exports and drive sustained economic growth.
Responding to criticism of the agreement, Goyal asserted that the India-EU FTA is not a zero-sum arrangement but a mutually beneficial partnership. He said the deal will open up easier access to European markets for Indian farmers, small businesses and manufacturers, while strengthening cooperation in services and emerging sectors.
The agreement, India’s largest free trade pact to date, is expected to deepen economic ties between two of the world’s largest economies. It aims to foster innovation, enhance professional mobility, support the digital economy and create quality employment opportunities for India’s growing workforce.
The India-EU Free Trade Agreement is being positioned as a cornerstone of India’s evolving global trade architecture, reinforcing its commitment to balanced growth, economic resilience and stronger international partnerships.
