EU Chief Ursula von der Leyen Hails Historic India-EU Free Trade Agreement, Thanks PM Modi
In a landmark address, European Commission President Ursula von der Leyen has lauded the newly signed India-EU Free Trade Agreement (FTA) as a monumental achievement, describing it as "the mother of all deals." She extended heartfelt thanks to Prime Minister Narendra Modi for his pivotal role in steering what she termed one of the world's most significant economic partnerships.
A Historic Partnership Amid Global Uncertainty
Speaking at a joint event, von der Leyen emphasized that India and Europe have consciously chosen cooperation over confrontation, forging a strategic alliance at a time of widespread global uncertainty. This agreement, she noted, effectively creates a combined market of over 2 billion consumers, positioning both regions for enhanced economic resilience and growth.
The FTA is designed to synergize India's vast talent pool and demographic scale with Europe's cutting-edge innovation and substantial capital resources. This blend is expected to drive mutual prosperity, foster technological advancements, and create numerous job opportunities across sectors.
Key Announcements: Mobility Pact and Legal Gateway Office
Alongside the trade deal, von der Leyen announced several complementary initiatives aimed at deepening bilateral ties:
- A Mobility Pact: This agreement will facilitate the easier movement of students, researchers, and skilled professionals between India and the EU, promoting academic exchange and workforce collaboration.
- EU's First Legal Gateway Office in India: The launch of this office marks a strategic step to provide legal support and streamline regulatory processes for businesses and individuals engaged in cross-border activities.
A New Chapter in EU-India Relations
Von der Leyen underscored that this FTA signifies more than just an economic accord; it represents a new chapter in the longstanding friendship and trust between the EU and India. The agreement is seen as a cornerstone for long-term strategic alignment, enhancing diplomatic and economic cooperation in an increasingly multipolar world.
This development comes as both regions seek to strengthen their global positions, with India emerging as a key partner for Europe in the Indo-Pacific region. The FTA is anticipated to boost trade volumes, reduce tariffs, and set a precedent for future international partnerships, reinforcing India's role as a major player on the world stage.
