India-EU FTA To Open New Trade, Technology Opportunities: PM Modi To European CEOs

New Delhi: Pitching India as a reliable global economic partner, Prime Minister Narendra Modi on Sunday urged European industry leaders to deepen engagement with India in several key sectors and said the recently concluded India-European Union Free Trade Agreement (FTA) negotiations would open major opportunities in trade, technology, manufacturing and resilient supply chains.

Addressing the European Round Table for Industry (ERT) in Gothenburg, PM Modi highlighted the growing India-Europe strategic ties and urged the European companies to increase investments to boost partnership with India.

Swedish Prime Minister Ulf Kristersson, European Commission President Ursula von der Leyen, senior European industry leaders and representatives from leading Indian and European companies attended the interaction hosted by Volvo Group.

In his address, PM Modi said India and Europe must build trusted partnerships amid an increasingly uncertain global environment. The Prime Minister welcomed the successful conclusion of negotiations for the landmark India-EU FTA, describing it as a transformative partnership that would create fresh opportunities in trade, technology, manufacturing, services and resilient supply chains, a statement issued by the Prime Minister’s Office mentioned.

He also said connectivity initiatives such as the India-Middle East-Europe Economic Corridor (IMEC) would further strengthen business ties between India and Europe.

Highlighting India’s economic growth and reforms, Modi said the country has emerged as one of the world’s most attractive destinations for investment, innovation and manufacturing. He referred to India’s expanding digital public infrastructure, improving ease of doing business, growing manufacturing ecosystem and rapidly developing infrastructure sector.

Reiterating the vision of “Design for India, Make in India and Export from India”, PM Modi invited European companies to deepen engagement with India as a trusted and reliable economic partner.

The Prime Minister stressed the need for India and Europe to work together to build resilient and diversified supply chains. He highlighted India’s investments in transport, logistics, renewable energy, green hydrogen and nuclear power.

PM Modi also invited European industry leaders to partner with India in sectors like telecom and digital infrastructure, artificial intelligence, semiconductors, electronics and deep-tech manufacturing, green energy, mobility and urban transformation, healthcare and life sciences.

He also emphasised stronger cooperation in talent mobility, education and skill development, saying India’s young and skilled workforce would play a major role in future global economic growth.

This apart, the Prime Minister proposed holding an annual India-Europe CEOs Roundtable and suggested creating an India Desk at the European Round Table for Industry.