National, Jan 28: President Droupadi Murmu on January 28 welcomed the conclusion of a free trade agreement between India and the European Union, describing it as a major step that would strengthen the country’s manufacturing and services sectors and generate new employment opportunities for young people.
Addressing a joint sitting of Parliament at the beginning of the Budget session, the President said the agreement reflected the growing strength and resilience of India’s economy over the past decade. She noted that despite repeated global disruptions, India had continued to remain the fastest-growing major economy.
“I congratulate all citizens on the conclusion of negotiations for a free trade agreement with the European Union. It will give impetus to the manufacturing and service sectors in India and also create new employment opportunities for the youth of India,” Murmu said.
She also highlighted improvements in macroeconomic stability, stating that India had further strengthened its record of keeping inflation under control, which had directly benefited the poor and the middle class. As a result of government policies, she said, citizens’ incomes had increased, savings had grown and purchasing power had improved.
India and the European Union sealed the landmark FTA on Tuesday, describing it as the “mother of all deals”. The agreement is aimed at creating a combined market of nearly two billion people and is anchored in a five-year agenda focused on trade, defence and cooperation to uphold a rules-based global order.
Alongside the trade pact, the two sides also signed agreements on security and defence cooperation and on facilitating the mobility of Indian talent to Europe. The deals were finalised during summit-level talks hosted by Prime Minister Narendra Modi with European Commission President Ursula von der Leyen and European Council President Antonio Costa, against the backdrop of strained transatlantic ties with the United States.
