'Significant Milestone': PM Modi Hails Conclusion Of Historic India-EU Free Trade Agreement

New Delhi: Reacting to the conclusion of the historic India–EU Free Trade Agreement (FTA), Prime Minister Narendra Modi called it a “significant milestone” in India–EU ties.

Taking to X, PM Modi said, "Conclusion of the India-EU Free Trade Agreement today marks a significant milestone in our relations. I thank all the leaders of Europe over the years for their constructive spirit and commitment in making this possible."

"This agreement will deepen economic ties, create opportunities for our people and strengthen the India-Europe partnership for a prosperous future," PM Modi added.

Earlier in the day, in another post PM Modi said, "Today is a day that will be remembered forever, marked indelibly in our shared history. European Council President António Costa and European Commission President Ursula von der Leyen and I are delighted to announce the conclusion of the historic India-EU Free Trade Agreement."

He furrther said,"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."

India-EU Deal

Earlier in the day, India and the EU concluded what has been described as the “mother of all deals”. The announcement was made after the 16th India–EU Summit, held between Prime Minister Narendra Modi and European leaders.

Praising the conclusion of the historic agreement, the Prime Minister said the two major democracies of the world were adding a “decisive chapter” to their relationship.

“Yesterday was a historic moment when European Union leaders took part in India’s Republic Day celebrations for the first time. Today is another such moment, when two major democratic powers are adding a decisive chapter in their relationship,” the Prime Minister stated.

When Will The Deal Come Into Effect?

The deal is expected to come into effect sometime next year. The free trade agreement (FTA) is likely to bring a qualitative change in deepening overall bilateral ties across a range of sectors. The broad focus of Tuesday’s meeting was on trade, defence and security, climate change, critical technologies, and strengthening the rules-based global order. The two sides are also set to unveil a defence framework pact and a strategic agenda.