Airbus India MD Highlights Benefits of India-EU Free Trade Agreement
India-EU FTA will be a win-win for both sides, looking forward to its ratification: Airbus India MD
The Economic Times
Image: The Economic Times
Jurgen Westermeier, Managing Director of Airbus India, emphasized the India-European Union Free Trade Agreement (FTA) as a 'win-win' for both parties, anticipating its swift ratification. The FTA, announced by Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, aims to enhance economic cooperation between two major democratic regions.
- 01The India-EU FTA is seen as mutually beneficial, enhancing economic ties.
- 02Bilateral trade between India and the EU reached ₹11.5 lakh crore (approximately $136.54 billion) in 2024-25.
- 03India's exports to the EU were valued at ₹6.4 lakh crore ($75.85 billion), while imports were ₹5.1 lakh crore ($60.68 billion).
- 04The agreement aims to create new trade and investment opportunities across various sectors.
- 05The FTA is a significant step in positioning India and the EU as trusted economic partners.
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Jurgen Westermeier, the Managing Director of Airbus India, expressed optimism regarding the India-European Union Free Trade Agreement (FTA), describing it as a 'win-win' for both regions. Announced on January 27 during the 16th India-EU Summit, this agreement aims to bolster economic cooperation between two of the world's largest democracies, which together account for approximately 25% of global GDP and nearly one-third of global trade. The FTA is expected to facilitate new trade and investment opportunities across various sectors. In the fiscal year 2024-25, bilateral trade in goods between India and the EU reached ₹11.5 lakh crore (around $136.54 billion), with India's exports valued at ₹6.4 lakh crore (approximately $75.85 billion) and imports at ₹5.1 lakh crore (about $60.68 billion). The integration of these complementary economies is anticipated to enhance market openness and economic growth.
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The ratification of the India-EU FTA is expected to open new markets for Indian businesses, potentially increasing exports and creating job opportunities in various sectors.
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