India-EU Trade Deal | What It Means For Business, Diplomacy And India’s Global Role

Business Today Group Editor, Siddharth Zarabi discussed the historic India-EU Free Trade Agreement with Anant Goenka (Vice Chairman, RPG Group & President, FICCI), Mohan Kumar (Former Indian Ambassador to EU), and Rajendra Abhyankar (Former Indian Ambassador to EU). The deal, dubbed the "mother of all deals" by EU Commissioner Ursula von der Leyen, covers one-third of global trade and 25% of global GDP after 20 years of negotiations. Key benefits include market access to EU's €20 trillion economy with 450 million high-income consumers, tariff elimination on labor-intensive sectors like textiles, leather, and gems, and significant job creation opportunities. The agreement addresses the collapse of WTO's MFN-based trade system. Experts emphasized India's need for FTAs with major economies, noting the deal signals India's competitive readiness and opens investment opportunities while requiring structural reforms for maximum benefit.