A breakthrough India-EU FTA is igniting optimism across export sectors, arming Indian firms to take on Vietnam, Malaysia, Thailand, Bangladesh, and Sri Lanka in Europe’s competitive markets. Leaders from business and trade bodies are unanimous in their praise.
Himmashu Vaidh of Polymedicure labeled it a ‘major milestone.’ The pact swings open 27 national markets, eroding tariff walls and spurring massive export upticks. Beyond access, it paves the way for European tech adoption, vital for upgrading India’s production lines.
Mutual gains abound: Europe discovers India’s vibrant marketplace, likely driving capital inflows and manufacturing boosts. Vaidh anticipates widespread economic upliftment through jobs and innovation.
R.S. Konwar, heading the medical devices export council, spotlighted sector-specific wins. ‘This FTA revolutionizes pharma access,’ he said, advocating zero tariffs paired with barrier removals for optimal impact.
Prime Minister Modi hailed it as a prosperity blueprint, easing paths for agriculture, MSMEs, and services. New opportunities in manufacturing will redefine India’s economic trajectory, cementing its role on the world stage.