‘Symbol of Unprecedented Alignment’: PM Modi Pitches India-EU FTA as Global Growth Engine

New Delhi: Prime Minister Narendra Modi on Tuesday described the India-European Union Free Trade Agreement (FTA) as a “symbol of unprecedented alignment” between the world’s two largest democratic powers, urging business leaders from both sides to seize the opportunity and act as a “double engine of growth for the world.”

Addressing the India-EU Business Forum at Bharat Mandapam in the national capital, PM Modi said the partnership between India and the European Union was entering a new phase at a time when global markets were witnessing deep uncertainty.

“There is complete chaos in global markets. In such a scenario, this Free Trade Agreement is a future-oriented partnership for both sides,” the Prime Minister said.

Calling the engagement between India and the EU “no ordinary diplomatic moment”, PM Modi said the presence of the Presidents of the European Council and the European Commission in India marked the beginning of a new era in bilateral ties. He noted that for the first time, EU leaders were participating as chief guests at India’s Republic Day celebrations.

“This alignment is not an accident,” Modi told business leaders. “As market economies, we share common values. We have shared priorities for global stability, and as open societies, there is a natural connection between our people. On this strong foundation, we are giving our partnership a new rise,” he said.

Highlighting the growing economic integration between the two sides, PM Modi said bilateral trade had doubled over the past decade to reach 180 billion euros. He added that more than 6,000 European companies are currently operating in India, while 1,500 Indian companies have established a presence across the European Union.

“There is over 120 billion euros of investment from the European Union in India, while Indian investment in the EU has reached nearly 40 billion euros,” he said, underlining deep cooperation in sectors ranging from research and development to manufacturing and services.

The Prime Minister said the newly finalised FTA would provide easier access to European markets for India’s labour-intensive products, directly benefiting farmers, fishermen and small producers. “Our farmers and fishermen will be direct beneficiaries of this agreement,” PM Modi said.

Calling on industry leaders to drive the next phase of engagement, PM Modi said the responsibility now lay with the business community to translate policy into prosperity. “The next step is to uplift the business community. Now the ball is in your court,” he said.

“Let us join hands and become a double engine of growth for the world,” the Prime Minister added, urging Indian and European companies to fully utilise the salient features of the FTA and deepen collaboration.

The India-EU Business Forum brought together top CEOs, policymakers and industry leaders from both sides and followed the conclusion of what the government has described as the largest free trade agreement in India’s history, positioning the partnership as a stabilising force in an increasingly fragmented global economy.

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