India’s sweeping Free Trade Agreement with the EU, sealed on Tuesday, eradicates duties on high-labor exports like leather products, textiles, and jewelry, targeting vast European demand. This breakthrough equips Indian industries to conquer new frontiers.
Commerce Minister Piyush Goyal tweeted enthusiastically: the pact fuels rapid export expansion for these key areas via duty-free passage to 27 EU markets. It’s a clarion call for growth in labor-driven economies.
Textile exporters celebrate zero duties into a $263 billion EU powerhouse, enhancing prowess and revitalizing artisan communities. Leather slashes from 17% tariffs to access $100 billion; gems tap $79 billion luxury niches amid $2 trillion industrial perks.
Prime Minister Modi positioned the FTA as a shared prosperity framework, streamlining access for agriculture, MSMEs, and manufacturing while fortifying services links. This visionary deal redefines Indo-European commerce.
With enhanced market penetration, stakeholders foresee investment inflows, employment spikes, and sectoral renaissance. India’s export narrative evolves, blending tradition with global ambition.