New Delhi [India], January 27 : The long-awaited India-EU Free Trade Agreement has brought a wave of optimism to leaders and industries across both continents. After years of negotiation, the deal is being hailed not just as a legal document, but as a bridge between two economies, while the people behind the numbers, the agreement represents more than just lowered tariffs; it is a commitment to shared innovation, job creation, and a more stable global market.
Wouter van Wersch, President of Airbus International, noted, "This is a fantastic day, and I'm very proud to be able to celebrate this together with all our friends and partners in India." He highlighted the shift towards local production, explaining that "Make in India is at the core of our strategy."
He further talked about the technological support they can provide, "We are very committed to continue to bring the best aircraft, the best helicopters and of course also in defence and space products to India, but to do this together. Bringing the technology and then leveraging, of course, the India scale and the strong human development capabilities that we have in the country."
The sentiment was echoed by Fredrik Persson, President of Business Europe, who viewed the agreement as a vital beacon of hope during a time of global instability. He noted that in a "world situation where we have high geopolitical uncertainty, where we are being challenged on the rule-based trade, we needed good news and potential growth going forward."
"The FTA between India and the EU is just that. It's opening up a combined huge market and opportunities for large Indian companies and SME European companies. This is something we've never seen before," he further said.
Jan-Olof Jacke, CEO of the Confederation of Swedish Enterprise, pointed out that the partnership is a win for stability and long-term strength. He noted that combining two of the largest economies in a rules-based agreement "is going to make a significant contribution to both our growth in both economies, but also to our resilience and strengthening our competitiveness."