FTA with EU reflects ambitious India, urges manufacturers to tap new markets: PM Modi

Prime Minister Narendra Modi addressed the media on Thursday ahead of the Budget Session of Parliament, with a particular focus on the recently concluded India–European Union Free Trade Agreement (FTA). Modi emphasised that this agreement represents the confidence of an ambitious and aspirational India, positioning the country favourably in the global economic landscape. The move has been described as a significant step towards realising India’s development goals and strengthening its global standing, as the FTA opens new avenues for growth and cooperation between India and the European Union.

During his remarks, Modi urged Indian manufacturers to seize the opportunities presented by the FTA. He encouraged them to leverage the agreement to enhance their production capabilities, improve competitiveness, and access new international markets. This, he noted, would enable domestic industries to expand their global footprint and align with international standards more effectively.

Referring to President Draupadi Murmu’s recent address to the joint sitting of Parliament, Modi highlighted its relevance to India’s current trajectory. The President’s speech was said to encapsulate the vision of building a 'Viksit Bharat' and to mirror the aspirations of 140 crore citizens, with a focus on the youth of the country.

Modi remarked, “The address was inspiring and highlighted India’s remarkable development journey in recent times,” underlining the positive sentiment and confidence that the leadership seeks to instil in the national discourse. The emphasis was on how far India has progressed, particularly in recent years, as acknowledged in parliamentary proceedings.

The Prime Minister stated that the current quarter has commenced on a positive note, positioning India as a source of optimism and a centre of interest on the global stage. He attributed this momentum to ongoing reforms and the country’s growing international relevance, especially in economic affairs.

Highlighting the broader implications of the FTA, Modi stated, “The India–EU Free Trade Agreement is for an ambitious India, for aspirational youth, and for Aatmanirbhar Bharat. It reflects how bright the future directions are,” reinforcing the message that the agreement is aligned with the government’s vision of self-reliant development and forward-looking policies.

Modi expressed confidence that Indian manufacturers, in particular, would capitalise on the new opportunities created by the agreement. He envisaged that these sectors would expand their reach, strengthen production capacities, and integrate more deeply with global value chains. This development is anticipated to have a positive impact on the economy and employment generation over the long term.

The Prime Minister’s appeal underscores a strategic shift towards proactive engagement with global economic platforms and urges stakeholders in India’s manufacturing sector to optimise the benefits of international collaborations. The FTA is expected to serve as a catalyst for enhancing India’s role in international trade and economic partnerships.