New Delhi: Prime Minister Narendra Modi praised the free trade agreement (FTA) between India and the European Union (EU) during his address at the National Cadet Corps (NCC) rally in Delhi on Wednesday. He described the deal as a significant development for Indian youth and said it will strengthen the Make in India and Make for the World initiatives.
Speaking at the NCC rally, PM Modi said, “The agreement with the EU is being hailed globally as the ‘Mother of All Deals.’ It is a gamechanger representing one-fourth of the world’s GDP and one-third of global trade. India has previously signed FTAs with countries like Oman, New Zealand, the UK, UAE, Australia, and Mauritius, which have created new opportunities for millions of young Indians.”
The Prime Minister highlighted that the agreement involves 27 countries of the European Union and will benefit Indian startups by easing access to funding and the ecosystem. “This pact will boost India’s creative economy, including film, gaming, fashion, digital content, music, and design. It will also open countless opportunities for youth in research, education, IT, and professional services,” he added.
PM Modi further explained, “This is called the Mother of All Trade Deals because of its wide-ranging and deep impact. It will accelerate the Atmanirbhar Bharat mission and empower Make in India and Make for the World. Over 99 percent of Indian exports to the EU will have zero or minimal tariffs, benefiting industries like textiles, leather, jewellery, footwear, and engineering goods, along with MSMEs. Artisans, weavers, and small entrepreneurs will gain direct access to the vast markets of 27 European countries.”
He also pointed out that the deal is expected to attract more investment to India. “New manufacturing plants in engineering, electronics, chemicals, pharma, and other sectors will come up. It will create a reliable market for agriculture, food processing, and fisheries, offering huge opportunities for farmers, fishermen, and rural youth. This FTA directly connects Indian youth to the job markets in Europe, opening fresh avenues across 27 countries,” PM Modi stated.
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