Ashish Chauhan, NSE’s CEO, envisions the India-EU Free Trade Agreement as a catalyst for employment in India’s manpower-rich industries. Tuesday’s remarks underscore easier EU market entry, promising a jobs bonanza.
True to its ‘mother of all deals’ moniker, the pact unites economies totaling 25% of world GDP and $220 billion trade ($135B goods, $85B services). Chauhan praises bilateral strategies as vital in a fragmenting multilateral landscape.
PM Modi portrays it as prosperity’s new architecture: simplifying EU access for agriculture and SMEs, nurturing manufacturing, enhancing services links.
Regarding the budget, Chauhan notes sectoral wishlist versus fiscal discipline—the BJP’s hallmark, even in crises. Tax cuts on LTCG, STT, STCG are anticipated, shaped by revenues and outlays.
The big picture? Labor-intensive powerhouses like garments, pharma generics, and food processing gain leverage. Harnessing India’s workforce, the FTA drives inclusive development, curbing unemployment and amplifying global competitiveness.