Prime Minister Narendra Modi on Tuesday said that the recent Free Trade Agreement (FTA) will strengthen the shared commitment to the rule of law.
Modi’s words came amid rising geopolitical tensions, and especially the US’s tariff declaration on multiple nations.
Meanwhile, US Secretary of the Treasury Scott Bessent lashed out at the European Union on Tuesday for signing a deal with India. Bessent, on Tuesday, said, “We have put 25% tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India. Europeans are financing the war against themselves.”
Prime Minister Narendra Modi said that the India-EU trade deal will boost India’s manufacturing sector by creating opportunities for many.
Experts believe that the agenda for the India-EU trade deal will revolve around security and clean energy transition, with significant progress expected on the long-pending India-EU Free Trade Agreement.
India, EU FTA will compliment India EFTA Tepa trade agreement & India-UK trade agreement, says Indian PM Modi.
Ahead of the announcement of the much-discussed India-EU trade deal, Prime Minister Narendra Modi met António Costa, the President of the European Council, and Ursula von der Leyen, the President of the European Commission.
The three held their hands in the air, emphasising a strong friendship.