New Delhi: Prime Minister Narendra Modi and European Commission President Ursula von der Leyen jointly announced the conclusion of the India–European Union Free Trade Agreement (India-EU FTA) during the 16th India-EU Summit held on the occasion of the European leaders’ visit to India.
Union Home Minister Amit Shah expressed his gratitude to Prime Minister Modi and congratulated the people of India on this historic achievement. He described the trade pact as a significant strategic milestone in India’s global trade relations.
On social media platform X, Amit Shah highlighted that the agreement exemplifies Prime Minister Modi’s visionary diplomacy on the world stage. The deal is designed to ensure mutual benefits and a balanced partnership, strengthening India’s ‘Atmanirbhar Bharat’ mission through agreements that favor all parties involved.
This free trade agreement establishes India and the European Union as reliable partners committed to open markets, predictable trade, and inclusive growth. The deal follows intensive discussions resumed in 2022 and represents the culmination of years of continuous negotiations and cooperation.
The agreement reflects political will and a shared vision to build a balanced, modern, and rules-based economic and trade partnership. The European Union is one of India’s largest trading partners, with bilateral trade in goods and services steadily increasing over recent years.
In 2024-25, India’s bilateral trade in goods with the EU stood at ₹11.5 lakh crore (approximately $136.54 billion), including exports worth ₹6.4 lakh crore ($75.85 billion) and imports worth ₹5.1 lakh crore ($60.68 billion). Trade in services between India and the EU reached ₹7.2 lakh crore ($83.10 billion) in 2024.
India and the European Union are the fourth and second largest economies globally, together accounting for about 25 per cent of global GDP and one-third of global trade. The integration of these two large, diverse, and complementary economies is expected to create unprecedented opportunities for trade and investment.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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