MoS Kirti Vardhan Singh said the India-EU FTA counters unilateral tariffs and shows India's global recognition as an economic power. He added that other nations are now keen to enter into agreements with India for mutual prosperity and benefit.
Union Minister of State for External Affairs Kirti Vardhan Singh said that the recently concluded India-EU Free Trade Agreement (FTA) not only counters unilateral tariff measures but also reflects how India is recognised globally as an economic power. He further noted how other global partners are now keen to enter into agreements with India for mutual prosperity and benefit.
Countering Unilateral Tariff Measures
Speaking to ANI on Thursday on the India-EU FTA, Singh said, "The EU-India FTA is important from many aspects. If you look at the geopolitics of today, which we rather call geo-economics, and the tariff wars unleashed by a certain nation, it (FTA) looks at that also. The current FTA takes important steps to counter such unilateral tariff measures."
India's Rise as an Economic Power
The India-EU FTA was jointly announced on Tuesday by Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa at the 16th India-EU Summit, held during the visit of European leaders to India. He praised how, under PM Modi's leadership, India has grown by leaps and bounds. "It also throws light on the rising power of our country, of India, which, under the guidance and leadership of Prime Minister Modi, has grown by leaps and bounds. India is now a recognised power and economic power, and the FTA focuses on these aspects. It will give a significant boost to our trade and manufacturing sectors. It also shows that India as a country is not dependent on just one nation for its economic growth."
Singh further noted that India has achieved major milestones in its growth and economy. "We are a recognised power globally, and other countries are also eager to shake hands with us and enter into agreements, which will lead to mutual prosperity and mutual benefit", he told ANI.
A Landmark Deal in Geopolitics
On Friday, Commerce Minister Piyush Goyal hailed the India-EU Free Trade Agreement as a landmark deal that places India at the high table of international geopolitics. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)