President Droupadi Murmu on Wednesday welcomed the signing of the India–European Union free trade agreement (FTA), saying it would strengthen key sectors of the economy and open up new employment opportunities for the country’s youth, reported PTI.
Addressing a joint sitting of Parliament at the start of the Budget session, the President said the agreement would give fresh momentum to India’s manufacturing and services sectors.
The President said that the India–EU free trade agreement would provide a strong push for the manufacturing and services sectors and help generate fresh employment opportunities for the country’s youth.
She added that India’s economic foundations have become significantly stronger over the past 11 years. Despite several global crises, the country has remained the fastest-growing major economy in the world.
The President also highlighted the government’s efforts to keep inflation under control, saying this has directly benefited the poor and the middle class.
She said that
India and the European Union on Tuesday, describing it as the “mother of all deals”. The agreement aims to create a combined market of around two billion people.
Prime Minister Narendra Modi and top EU leaders unveiled a five-year agenda focused on expanding cooperation in areas such as trade and defence, with an emphasis on supporting a rules-based global order.
Alongside the FTA, India and the EU also signed two key agreements. One focusses on security and defence cooperation, while the other aims to improve mobility opportunities for Indian talent in Europe.
The agreements were signed during summit-level talks hosted by Prime Minister Modi, with European Commission President Ursula von der Leyen and European Council President Antonio Costa attending the meeting.