New Delhi [India], January 28 (ANI): Shiv Sena (UBT) MP Priyanka Chaturvedi welcomed the India-European Union Free Trade Agreement (FTA), expressing hope that it will benefit both nations and strengthen the global trade order.

Speaking to ANI on Tuesday, Chaturvedi said the deal, 'long pending for 20 years,' is advantageous not only for India but also for EU nations, further stating that the conclusion of the agreement opens new prospects in the global trade framework.

'I welcome the free trade agreement and this was long pending for 20 years. For two decades, India and the European Union have been discussing a trade deal like this and that, and finally, it has found closure is good for our nations, for European Union nations as well as for us. At the same time, it also establishes that when we have convergences over democracy, global trade order, as well as international rules-based order, then there's a lot that can be achieved. So this trade agreement would be an indicator of that. I would just hope that this would benefit both nations, and their populations would continue to thrive under trade and we will continue to have a global trade order. We welcome what comes along with it,' she said.

Chaturvedi further hailed External Affairs Minister S Jaishankar for his efforts in negotiating the deal. Referring to US tariffs on India, she said the EU will now face its 'toughest challenge' with its ally.

'At the same time, I would like to congratulate the foreign minister, because he has been trying to reach a negotiation point that has led to this deal. The European Union right now faces its toughest challenge with its transatlantic ally, and even with the USA charging us immense tariffs. So this would be something which we should look forward to...,' she added.

Meanwhile, Shiv Sena leader Shaina NC welcomed the EU's tariff reduction, stating it will 'greatly benefit India.'

'The reduction in tariffs by the European Union will greatly benefit India. Tariffs will be eliminated on 90% of Indian products. 93% of Indian products will face zero tariffs. This will definitely benefit India... This is an agreement with the European Union,' she said.

She further noted that the EU will also benefit from India's indigenous markets and products, supporting the Make in India campaign and strengthening the Indian economy.

'We have many sectors there that will benefit from this.. People are asking what will happen to India's Make in India campaign? The European Union will benefit from India's markets, our machinery, and our products... This is a very beneficial decision for the Indian economy,' Shaina added.

The remarks came following the announcement by India and the European Union on Tuesday that negotiations for the long-pending FTA had concluded. Under the deal, the EU will remove tariffs on 99.5 per cent of Indian exports, with most duties dropping to zero immediately once the pact comes into force. India has agreed to provide tariff concessions covering 97.5 per cent of the traded value between the two economies.

The joint announcement was signed by Commerce Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic, in the presence of Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa.

The FTA marks the culmination of years of dialogue, demonstrating the political will and shared vision to deliver a balanced, modern, and rules-based economic and trade partnership. The European Union is India's largest trading partner, with bilateral trade in goods and services growing steadily. In 2024-25, bilateral trade in goods stood at INR 11.5 lakh crore (USD 136.54 billion), including exports worth INR 6.4 lakh crore (USD 75.85 billion) and imports of INR 5.1 lakh crore (USD 60.68 billion). Trade in services reached INR 7.2 lakh crore (USD 83.10 billion).

India and the EU, as the 4th and 2nd largest economies, together account for 25% of global GDP and one-third of global trade. The agreement provides unprecedented market access for more than 99% of Indian exports by trade value to the EU and strengthens the Make in India initiative. It also unlocks high-value commitments in services and a comprehensive mobility framework for skilled Indian professionals.

The India-EU trade pact covers conventional areas such as trade in goods and services, trade remedies, rules of origin, customs and trade facilitation, as well as emerging areas such as SMEs and digital trade, among others.

The India-EU FTA gives a decisive boost to its labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods, and automobiles, bringing down tariffs up to 10% on almost 33 bn USD of exports to zero on entry into force of the Agreement. Beyond enhancing competitiveness, it empowers workers, artisans, women, youth, and MSMEs, while integrating Indian businesses more deeply into global value chains and reinforcing India's role as a key player and supplier in global trade.

The FTA marks a new chapter in bilateral economic engagement, strengthening trade and strategic cooperation between India and the 27-member EU bloc. The agreement embeds multiple review, consultation, and response mechanisms to address emerging challenges, relying on strong stewardship and mutual trust to deliver long-term gains for both sides. (ANI)