New Delhi’s landmark free trade agreement with the European Union is set to reshape India’s export landscape. Industry leaders hail it as a game-changer, enabling Indian businesses to compete head-on with powerhouses like Vietnam, Bangladesh, Thailand, Malaysia, and Sri Lanka in Europe’s vast markets.
Himmashu Vaidh, MD and CEO of Polymedicure, described the deal as a monumental achievement. ‘This FTA opens doors to 27 European nations simultaneously,’ he emphasized in an exclusive interview. Indian exporters will now enjoy preferential access, slashing tariffs and boosting volumes significantly.
The agreement promises more than just market entry. It facilitates smoother access to cutting-edge European technology, fueling innovation back home. For European firms, India emerges as a high-growth market ripe for investment. Vaidh predicts a surge in domestic manufacturing and foreign direct investment as a direct outcome.
R.S. Konwar, Chairman of the Export Promotion Council for Medical Devices (EPCMD), echoed these sentiments. ‘This is revolutionary for the pharma and medtech sectors,’ he stated. Zero tariffs on medical devices are a win, but Konwar stresses the need to dismantle non-tariff barriers for true penetration.
Prime Minister Narendra Modi, announcing the pact, called it a blueprint for shared prosperity. It will ease access for Indian farmers and MSMEs to European shelves, spawn new manufacturing opportunities, and deepen services sector ties. As negotiations conclude, India’s global trade ambitions take a decisive leap forward.