New Delhi [India], January 27 (ANI): Austrian Ambassador to India Robert Zischg welcomed the news of India signing the Free Trade Agreement with the European Union and highlighted how, despite the current complex geopolitical climate and increasing tensions, conflicts across the world, he remains 'optimistic of brighter days'.

Speaking to ANI, he said, 'I believe it will still take some time until the legal scrapping is completed, and we have all the details of the agreement. However, we anticipate that trade and investment will increase significantly, as both sides currently face tariffs and non-tariff barriers that hinder trade and investment. The international arena has become much more complex, which is why we believe India is a major player in this global landscape, where crises are unfolding across every continent. I remain optimistic, despite the many tensions and conflicts we are seeing; brighter days will eventually come.'

He also said, 'Beyond the trade and investment aspects, the deal also sends a strong political message between the European Union and India. It signifies that we've completed 18 years of intensive work. Today's summit, and the invitation extended by Prime Minister Modi to Ursula von der Leyen, clearly signal that the European Union and India are committed to strengthening their ties in the future.'

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.

'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.

'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,' he added. (ANI)