EU trade deal opens new pathways for growth: Modi

Prime Minister Narendra Modi said the India European Union (EU) free trade agreement opens new pathways for growth, investment and strategic cooperation.

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“This agreement will drive trade, investment and innovation while strengthening our strategic relationship. It reflects our shared resolve to shape a stable, prosperous and future-ready economic relationship,” he said in a post on X.

Today is a day that will be remembered forever, marked indelibly in our shared history. This is a milestone in our relations which will: Strengthen our economic ties Create jobs for our youth Opportunities for our businesses Foster shared prosperity, build stronger global supply chains, Modi said.

This landmark deal between the 2nd largest and 4th largest economies of the world promises to create unprecedented opportunities and open new avenues of growth as well as cooperation, he said.

“This deal will benefit the entire global community. It would help create quality jobs in key sectors, enable further mobility for our youth, professional talent, students and researchers and unlock the potential of the digital age. Importantly, it will foster innovation and strengthen economic ties for mutual growth. Together, India and the EU are moving ahead with trust and ambition towards a prosperous as well as sustainable future!” he said.

The historic agreement with EU, which is India’s largest Free Trade Agreement in history, has substantial benefits for the 1.4 billion people of India. It will: Make access to European markets easier for our farmers and small industries. Create new opportunities in manufacturing. Further strengthen cooperation between our services sectors, he added.

Read more here: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2219089&reg=3&lang=1

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