Indian industry bodies have welcomed the India-European Union free trade agreement. The Confederation of Indian Industry (CII) has lauded the announcement and said that the agreement represents a strategic breakthrough in the country’s global trade engagement and significantly deepens the partnership between them. In a statement, Director General of CII Chandrajit Banerjee said that the partnership between two major economies and democracies accounts for nearly 25% of global GDP. He said, unprecedented preferential access secured for over 99% of Indian exports through the agreement is a game-changer for the Indian industry.
Federation of Indian Chambers of Commerce and Industry, FICCI, has congratulated the government for advancing this agreement of strategic scale and long-term significance. The body said the European Union represents the most expansive and high-potential market covered under the country’s recent FTA engagements, opening new avenues for deeper economic collaboration. In a statement, President of FICCI Anant Goenka saidthe FTA is poised to unlock substantial untapped trade and investment opportunities, enabling deeper market access, stronger value-chain integration, and enhanced export competitiveness across manufacturing and high-value sectors.
Further, the Federation of Indian Export Organisations, FIEO, has also applauded the historic announcement of the conclusion of the India-European Union Free Trade Agreement. The export body said that the conclusion of the FTA marks a defining milestone in thecountry’s global economic journey and stands as a testament to the Government’s unwavering commitment to trade-led growth, economic reforms, and globalintegration. President of FIEO, S C Ralhan, in a statement, said the agreement reinforces India and the European Union as trusted and reliable partners committed to open markets, predictability, and inclusive growth. He expressed hope that the agreement will open unprecedented market access for Indian exporters across goods and services, particularly empowering labour-intensive sectors, MSMEs, women entrepreneurs, artisans, and youth.
