New Delhi [India], February 17 (ANI): The Irish Minister for Public Expenditure, Jack Chambers, hailed the Free Trade Agreement (FTA) between India and the European Union (EU), noting the 'limitless level' of growth of business opportunities between the two 'big trading blocs.'

Speaking to ANI on Monday, the Irish minister said that both parties in the deal will have reciprocal trade benefits.

Highlighting strong India-Ireland trade ties, he mentioned that business between the two countries has grown by 90 per cent in the last 10 years.

Jack Chamber said, 'There are huge opportunities in the future, before the free trade agreement between the European Union and India. Trade between Ireland and India grew by 90 per cent in the last 10 years. We expect trade between the European Union and India to double in the next seven years. So there's a limitless level of opportunity for growth between businesses and amongst our two countries.'

'I'm really excited about the free trade agreement that's been agreed, and it's only positive for the future. We have strong people-to-people links, very much pro-enterprise policies across our two countries, and I really look forward to seeing what will come from this, and part of my visit over the next number of days is really trying to leverage that and show how both businesses in both countries can really drive opportunities to increase their market share,' he added.

Further, Chambers said that the FTA, amid an uncertain global trade climate, will increase opportunities for citizens in India and Europe.

'It's a really positive free trade agreement. Ireland is an open, pro-enterprise economy that has built its growth and prosperity on trade deals and ensuring that we can have efficiency in the global supply chain. There are huge opportunities from the Indian market of one and a half billion people who live here, from the goods and services that you produce, but also to see the reciprocal benefits that European goods and services will bring right into India as well. So it's good for trade. We have a lot of global uncertainty and instability on trade over the last 12 months in particular and to see two big trading blocs agree on a deal, lowering tariffs, that only increases opportunity for citizens in both blocs,' he said.

The India-EU Free Trade Agreement, which was finalised in January 2026 after long negotiations, eliminates tariffs on over 90 per cent of goods traded between the two sides.

According to a sectoral analysis by credit rating agency ICRA, the agreement grants India preferential zero-duty access on 97 per cent of EU tariff lines, covering nearly 99.5 per cent of the value of Indian exports, while India will cut or eliminate tariffs on 92 per cent of its tariff lines for EU imports.

Agricultural and processed food exports, such as tea, coffee, spices, fruits, vegetables, and marine products, will gain preferential access to the EU market. Marine exports are expected to benefit from tariff reductions of up to 26 per cent, supporting coastal employment and export growth.

Labour-intensive sectors such as leather, footwear, furniture, and rubber products are also expected to see gains. At the same time, sensitive sectors, including dairy, cereals, and poultry, have been safeguarded to protect farmers and MSMEs. (ANI)