New Delhi [India], January 27 (ANI): Irish Ambassador to India, Kevin Kelly, on Tuesday welcomed the news of India finalising the Free Trade Agreement with the European Union, expressing that he hopes to see fewer tariffs between the two trading partners to facilitate and benefit consumers, companies and producers of both regions.

On Tuesday, he said, 'We are very positive about today. I have not yet seen the details... but this is something we really wanted to see... Ireland, as a small country, knows the importance of trade agreements... From being one of the poorest countries in Europe, we became the wealthiest country, thanks to our membership in a common market... It is great that, being the greatest democracy in the world, the EU and India are signing this deal.'

'Tariffs are not good for trade... The fewer the tariffs, the more the trade, which benefits more people... Hopefully, this deal will result in fewer tariffs, and this will benefit Indian consumers, companies and producers as much as those in Europe,' he added.

India and the EU finalising FTA and agreeing to key initiatives across several domains is a statement of deep partnership and the strategic intent of the two sides coming together in a multitude of areas to strengthen partnership, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.

He said the announcements go beyond the huge potential of the Free Trade Agreement.

Meanwhile, Union Commerce Minister Piyush Goyal congratulated the people of India for the FTA, highlighting that it goes beyond just the deal and is indicative of the 'humongous potential' that is being unlocked.

'I'd like to begin by congratulating 1.4 billion brothers and sisters in India. This visit is extraordinary. It goes far beyond a Free Trade Agreement. It goes far beyond the humongous potential that is being unlocked with the Free Trade Agreement. It is truly a statement of deep partnership and the strategic intent of the European Union and India coming together in a multitude of areas to strengthen our partnership, to work together for the shared prosperity and a better future for one third of humanity,' Goyal said at a joint press conference, which was also addressed by Foreign Secretary Vikram Misri.

He added, 'It is a reflection that when 25 per cent of global trade decides to strengthen the strategic partnership, including with the free trade agreement, it unlocks the doors to defence cooperation, greater investments, to cooperation in the field of innovation and science to further integration of financial markets.' (ANI)