Intro: ‘This strategic trade deal connects India with 27 European nations, giving preferential market access to over 99 per cent of Indian goods’

Lucknow

Uttar Pradesh Chief Minister Yogi Adityanath has welcomed the successful conclusion of the Free Trade Agreement (FTA) between India and the European Union (EU), calling it a “historic leap” in India’s economic growth.

In a post on X, the Chief Minister said the agreement opens export opportunities worth nearly ₹6.41 lakh crore, especially for labour-intensive industries.

Under the leadership of Prime Minister Narendra Modi, this strategic trade deal connects India with 27 European nations, giving preferential market access to over 99 per cent of Indian goods. CM Yogi said it will benefit farmers, boost micro, small, and medium enterprises (MSMEs), strengthen manufacturing and services, and create more jobs for skilled professionals.

The India-EU FTA is designed as a modern, rules-based partnership that addresses global economic challenges while promoting closer market integration between India and the EU, the world’s fourth and second largest economies. Together, these markets represent over ₹2,091.6 lakh crore (USD 24 trillion), offering huge opportunities for trade, innovation, and economic growth.

The agreement provides India preferential access across 97 per cent of tariff lines, covering 99.5 per cent of trade value. Seventy per cent of these lines will have immediate duty removal for labour-intensive sectors such as textiles, leather, footwear, tea, coffee, spices, sports goods, toys, gems and jewellery, and selected marine products. Another 20 per cent of tariff lines will gradually reach zero-duty over three to five years for items including processed food, arms, and some marine products.

CM Yogi described the FTA as a blueprint for shared prosperity, a self-reliant India, and a stronger position in the global economy. Analysts say the agreement could transform trade relations and support India’s long-term growth ambitions.