New Delhi, Jan 27 (UNI) Confederation of All India Traders (CAIT) on Tuesday said the India-European union Trade Agreement is a “historic and strategic milestone” that will strengthen India’s global economic position and help traders, MSMEs and manufacturing sectors.
The BJP MP from Chandni Chowk and Secretary General of the Confederation of All India Traders (CAIT) Praveen Khandelwal stated that the agreement reflects making India a trusted and competitive global economic power.
He added that the deal will improve market access for Indian goods and services in the European Union, one of the world’s largest economic blocs, and help India integrate further into global value chains.
“The agreement highlights India’s growing economic strength, policy stability and reform-led growth under Prime Minister Modi,” he said.
Explaining the benefits, Khandelwal said the trade deal will boost exports by reducing tariff and non-tariff barriers, attract higher foreign investment in manufacturing and services, promote technology transfer and innovation, and create large-scale employment opportunities.
He said MSMEs will gain major benefits as the agreement opens new global markets and supports the vision of Aatmanirbhar Bharat through international cooperation. He added that the agreement aligns with theb vision of making India a global manufacturing hub, improving ease of doing business, and ensuring inclusive growth for traders, manufacturers, farmers and entrepreneurs.
According to Khandelwal, key sectors expected to benefit include textiles and apparel, leather and footwear, gems and jewellery, engineering goods and auto components, pharmaceuticals and healthcare, IT and digital services, agriculture and processed foods, along with MSMEs and start-ups.
“The India–EU trade deal is not just a commercial agreement, but a strategic partnership that will speed up India’s journey towards a $5 trillion economy and strengthen its leadership in global trade” Khandelwal said.
