After 18 years of off-and-on negotiations, Prime Minister Narendra Modi and EU leaders announced the successful conclusion of the FTA today in New Delhi.
- Economic Impact: The deal covers economies representing 25% of global GDP and one-third of global trade.
- Key Sectors: Significant boosts are expected for Indian textiles, jewelry, leather, and the services sector, while the EU gains easier access to the Indian automotive and spirits markets.
- Strategic Shift: The agreement is seen as a major move to diversify supply chains away from a China-centric model and solidifies India’s role as the EU’s largest trading partner.
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