Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries (AlAl).
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Mumbai: World Trade Center-Mumbai has welcomed the landmark conclusion of the long-awaited India–European Union Free Trade Agreement (FTA) announced at the 16th India–EU Summit saying that it would unlock greater opportunities for MSMEs, start-ups, and large enterprises on both sides.
In his reaction to the announcement, Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries (AlAl), said: ”The finalisation of India-EU trade negotiations marked a historical movement in the global markets. This agreement between India and the European Union has the potential to reshape global trade flows, strengthen supply chains, and unlock greater opportunities for MSMEs, start-ups, and large enterprises on both sides.”
Dr. Kalantri further said, “With over 99% of Indian exports set to gain preferential access to the European Union market, this will unlock significant growth opportunities. Sectors which create ample job opportunities like textiles, leather, marine products, wines, gems and jewellery will also get a boost. This agreement is a win-win as Indian consumers will get quality European products at cheaper prices and exporters will be able to enter the European markets”.
“In addition, the maritime partnership will deepen cooperation in maritime security, resilient supply chains, sustainability and digital trade, thereby strengthening the overall economic engagement between India and the European Union. This will secure our maritime borders from common threats, reduce the cost of logistics making cargo movement cheaper and environment friendly growth” stressed Dr. Kalantri.
“India’s large trade capacity, demographic dividend, manufacturing scale, and digital innovation, combined with Europe’s price-insensitive markets, technological leadership, sustainability frameworks, and advanced manufacturing strengths, create a significant advantage for both economies. This deeper India–EU engagement, especially amid geopolitical uncertainties, sends a strong signal in favour of rules-based trade, strategic diversification, and sustainable growth, while setting global benchmarks in green trade, digital transformation, and inclusive development.”
“With India aspiring to become a USD 30 trillion economy by 2047 and the European Union seeking deeper engagement with the Indo-Pacific, this agreement will serve as a cornerstone of a new global trade architecture, one that is resilient, sustainable, and future-ready," Dr. Kalantri said.