NEW DELHI: Union Minister of State for Commerce and Industry Jitin Prasada has said India was able to conclude its long-pending free trade agreement (FTA) with the European Union on equal terms after nearly 17 years of negotiations, while stressing that technology transfers, local manufacturing and arti¿cial intelligence (AI) would play a critical role in the country’s next phase of industrial growth, reported IANS.
Speaking at the Uttar Pradesh International Trade Show (UPITS), Prasada said the India-EU FTA marked a signi¿cant achievement for the Government, noting that earlier negotiations had struggled to make progress.
“The EU FTA was in talks for 17 years. They were not ready to have a conversation with us. Our Government was able to strike a deal on equal terms,” he said.
India and the European Union concluded negotiations for the trade pact on January 27, 2026. The negotiations, which began in 2007, had remained stalled for several years before being relaunched in 2022.
The agreement took another step forward earlier this month when the European Commission submitted it to the EU Council for authorisation for signature and conclusion.
The agreement took another step forward earlier this month when the European Commission submitted it to the EU Council for authorisation for signature and conclusion.
Highlighting India’s evolving approach towards foreign investment, Prasada said the country now expects international companies to contribute to domestic manufacturing capabilities and technological advancement rather than treating India merely as a consumer market. According to the minister, foreign ¿rms seeking to expand their presence in India would increasingly be encouraged to enter into joint ventures and facilitate technology transfers to support local industry and strengthen manufacturing ecosystems.
Prasada also underscored the importance of quality enhancement for Indian products, saying domestic manufacturers must focus on meeting global standards as they seek to expand their presence in international markets. “We need to ensure quality and the global market is waiting for us,” he said.
