Jaishankar further said that the Summit's outcomes, such as the Free Trade Agreement (FTA) and other agreements, laid the foundation for a deeper partnership.
Industry leaders from Europe and India have welcomed the signing of the India-European Union Free Trade Agreement (FTA), describing it as a positive and tangible step that opens new opportunities for businesses on both sides and signals a shift from prolonged negotiations to concrete action.
Designed as modern, rules-based trade partnership, the FTA responds to contemporary global challenges while enabling deeper market integration between the world's 4th and 2nd largest economies.
States across India are set to benefit from the landmark India-European Union Free Trade Agreement (FTA), with exports estimated at Rs 6.4 lakh crore expected to gain access to 27 EU markets under a single trade framework.
Over 95 per cent of EU businesses in India plan to expand their operations in India in the next five years, according to a survey conducted by Federation of European Business in India (FEBI).
The minister stated that India and the EU share the principles of democracy, pluralism and the rule of law, which underpin the steadily deepening partnership. He added that it is these values which India seeks to translate into practical cooperation for global stability, sustainable growth a
As India and EU signed the security and defence partnership, EU Vice President Kaja Kallas noted that this would help in exploring Indian participation in European defence initiatives.
President of the European Commission Ursula von der Leyen had special praise for India's Commerce Minister Piyush Goyal for playing a key role in the just-finalised India-EU Free Trade Agreement.
India and the European Union on Tuesday signed a landmark Security and Defence Partnership, marking the first overarching defence and security framework between the two sides, as leaders from both blocs agreed to significantly deepen cooperation across strategic, regional and global securit
Prime Minister Narendra Modi on Tuesday called for reforms in international institutions to effectively address contemporary challenges, citing growing turmoil in the global order.