Bhopal (Madhya Pradesh) [India], January 27 (ANI): The Federation of Madhya Pradesh Chamber of Commerce & Industry (FMPCCI) has welcomed the announcement of the India-European Union Free Trade Agreement (FTA), calling it would open new avenues for deeper economic cooperation and strengthen trade ties.

In a statement, Deepak Sharma, President, FMPCCI & Member FICCI, said the agreement would unlock significant opportunities by improving market access, strengthening supply chains and boosting exports across key sectors.

'Congratulations to the Government of India on securing a pact of immense strategic importance under the leadership of Prime Minister Shri Narendra Modi. The EU--India's largest and most promising partner within its recent FTA engagements--opens new doors for deeper economic collaboration. This agreement will unlock major opportunities by enabling greater market access, tighter and more resilient supply chains, and stronger export performance across key sectors, including manufacturing, high-value industries, and the services sector, where India holds a distinct competitive advantage over the EU,' Sharma said.

On the other hand, another member of FICCI Madhya Pradesh State & CMD EKI Energy Services Ltd, Manish Dabkara said the agreement offers a unique opportunity to make decarbonisation a business advantage.

'Trade should grow, but emissions must fall. The India-EU FTA is an opportunity to make decarbonisation a business advantage and a cleaner supply chain the new standard. It can accelerate collaboration on clean energy, greener manufacturing, and transparent carbon measurement, helping Indian and UK businesses compete globally while building a lower-carbon future together,' Dabkara said.

The India-EU Free Trade Agreement was concluded today after long negotiations and is expected to significantly enhance bilateral trade and investment ties, strengthen supply chains, and deepen economic cooperation between India and the European Union.

The documents on the FTA conclusion were exchanged between EU Trade Commissioner Maros Sefcovic and Union Commerce Minister Piyush Goyal. This announcement marks a historic milestone in India-EU economic relations and trade engagement with key global partners.

According to the joint statement, this historic deal is a milestone in the India-EU Strategic Partnership that will significantly enhance bilateral trade and investment ties, drive shared prosperity, strengthen resilient and diversified supply chains, and support sustainable and inclusive growth.

The FTA comes after intense negotiations since the re-launch of negotiations in 2022.

The European Union is one of India's largest trading partners, with bilateral trade in goods and services growing steadily over the years. In 2024-25, India's bilateral trade in goods with the EU stood at Rs 11.5 Lakh Crore (USD 136.54 billion) with exports worth Rs 6.4 Lakh Crore (USD 75.85 billion) and imports amounting to Rs 5.1 Lakh Crore (USD 60.68 billion). India-EU trade in services reached Rs 7.2 Lakh Crore (USD 83.10 billion) in 2024. (ANI)