The recently finalized free trade agreement between India and the European Union represents a pivotal advancement in India’s international economic strategy. Union Minister Piyush Goyal has highlighted the pact as evidence of India’s prominent position among global powers.
Key Benefits of the Agreement
Goyal emphasized that the deal provides Indian exporters with exceptional market opportunities while safeguarding the interests of micro, small, and medium enterprises. He noted that it reinforces India’s reputation as a reliable international collaborator. Furthermore, the minister pointed out how India’s robust workforce and manufacturing capabilities align seamlessly with Europe’s cutting-edge innovations, fostering mutual growth.
Addressing Political Criticisms
In response to opposition figures who have labeled the agreement as exaggerated, Goyal countered by pointing to inconsistencies in their stance. He recalled that negotiations with the EU were initiated but later stalled during the previous United Progressive Alliance government’s tenure. Goyal contrasted this historical caution with India’s current assertive approach, underscoring a shift toward greater confidence on the world stage.
