India-EU FTA symbolises unprecedented alignment between world’s two largest democracies: PM Modi

PM Modi at the EU-India Business forum.

Prime Minister Narendra Modi, speaking at the India-EU business forum in New Delhi on Tuesday, said that the free trade agreement between India and the European Union was a “symbol of unprecedented alignment".

PM Modi said that the visit to India by the Presidents of the European Union Council and Commission is no ordinary diplomatic visit and is the start of a new era of India-EU relations.

"It heralds a new era in India-European Union relations. For the first time, European Union leaders are participating as chief guests at India's Republic Day celebrations. The largest Free Trade Agreement in India's history is being concluded between India and the European Union, and today, a large-scale India-European Union Business Forum is being held with many CEOs. All these achievements symbolise the unprecedented alignment taking place between the world's two largest democratic powers," he said.

India and the European Union successfully concluded the India-EU Free Trade Agreement (FTA) on Jan 27, billed as the “mother of all deals”, amid the backdrop of a fractious global environment and trade disruptions largely due to Washington’s policy on tariffs.