India secures Free Trade deal with European nations, PM Modi calls it win-win
Emphasizing the promising dynamics of their economies despite structural diversities, PM Modi hailed the accord as a "win-win situation for all nations." The Free Trade Agreement was formalized with the four-nation EFTA bloc, comprising Switzerland, Norway, Iceland, and Liechtenstein.
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FollowCelebrating a significant stride in international trade relations, Prime Minister Narendra Modi on Sunday extended his congratulations to the negotiators and signatories involved in the recent signing of the Trade and Economic Participation Agreement (TEPA) between India and the European Free Trade Association (EFTA).
Emphasizing the promising dynamics of their economies despite structural diversities, PM Modi hailed the accord as a "win-win situation for all nations." The Free Trade Agreement was formalized with the four-nation EFTA bloc, comprising Switzerland, Norway, Iceland, and Liechtenstein.
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Union Commerce Minister Piyush Goyal played a pivotal role, co-chairing the meeting on the India-EFTA trade agreement in the national capital on Sunday. In a letter marking March 10, 2024, as a transformative moment in bilateral relations, PM Modi expressed optimism for a strengthened partnership.
PM Modi underscored the historic nature of the occasion, describing it as a turning point and watershed moment in the relationship between India and the EFTA countries. He conveyed his heartiest congratulations and best wishes to the negotiators and signatories involved in the signing of the India-EFTA Trade and Economic Participation Agreement (TEPA).
In his letter, PM Modi commended the culmination of efforts to finalize an innovative, well-balanced trade deal that mirrors the respective developmental aspirations of the nations involved. He characterized TEPA as one of the most pioneering free trade agreements ever concluded between India and the EFTA bloc, underscoring its emphasis on shared prosperity and a more inclusive partnership.
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Highlighting the complementarities between the diverse economies involved, PM Modi expressed confidence that the agreement would be mutually beneficial. He described the TEPA as a testament to the steadfast commitment to shared prosperity and the cultivation of a stronger, more inclusive partnership between India and EFTA, aligning with the aspirations of both nations.
PM Modi also stressed the significant trading and investment opportunities that the agreement opens up for India, ushering in a new era of trust and ambition.
