New Delhi, January 29: The landmark Free Trade Agreement (FTA) between India and the European Union (EU) promises to reshape the nation’s economic landscape, accelerating exports, fostering innovation, and bolstering self-reliance. Veer Sagar, Chairman of the Electronics and Computer Software Export Promotion Council (ESC) under the Ministry of Commerce and Industry, hailed the deal as historic during an exclusive interview.
Sagar emphasized that this agreement marks a shift to equal partnership. ‘For the IT sector, this is transformative,’ he said. India will no longer be confined to providing manpower or basic supplies. Instead, it will collaborate with European partners on cutting-edge areas like innovation, designing, development, automation, and artificial intelligence.
Previously, securing visas and approvals for work or study in Europe was a bureaucratic nightmare. The FTA streamlines these processes, easing mobility and strengthening India-EU ties in professional and educational collaborations.
This pact aligns seamlessly with Make in India and Atmanirbhar Bharat initiatives. Production will be distributed—some in Europe, some in India—leading to joint manufacturing and shared responsibilities. Sagar noted that India has evolved from a mere executor of tasks, as seen in markets like the US, to a co-creator in design and technology development.
The benefits extend beyond IT to automobiles, pharmaceuticals, agriculture, banking, and more. India’s strengthened position in global supply chains, driven by ramped-up domestic manufacturing, has made it a trusted partner for Europe.
Ultimately, this partnership will enhance knowledge sharing, technology transfer, and joint production, supercharging India’s exports and cementing its status as a global innovation hub and manufacturing powerhouse.