5 months ago
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The Federation of Indian Export Organisations (FIEO), Southern Region, has welcomed the Indo-European Free Trade Agreement (FTA), describing it arsenic a historical and strategical milestone that volition importantly heighten commercialized ties betwixt India and the European Union.
P. Gopalakrishnan, Chairman, FIEO Southern Region, said the EU was 1 of India’s largest trading partners, with bilateral commercialized successful goods exceeding $136.5 cardinal successful 2024–25, of which Indian exports to the EU were astir $75.85 billion. The EU accounted for astir 17 % of the country’s full exports, making it a paramount marketplace for exporters crossed South India, including Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana.
“The statement covers adjacent to 99% of Indian exports to the EU with preferential marketplace entree and astir 97 % of EU exports to India, signalling broad tariff liberalisation and opportunities for maturation crossed sectors,” Mr. Gopalakrishnan said.
He emphasised that the woody would assistance trim commercialized barriers, simplify customs procedures, and bring predictability to regulatory frameworks, benefiting a wide scope of exporters peculiarly Micro Small and Medium Enterprises (MSMEs) successful South India. The commercialized woody had placed MSMEs to vie successful the European market.
While thanking the Union Government and the European Commission for concluding a balanced and guardant looking agreement, Mr. Gopalakrishnan said it would enactment sustained export maturation and stronger economical cooperation.
