In a recent interview, Prime Minister Narendra Modi highlighted the impact of trade agreements that India is entering into, particularly with the European Union (EU) and the United Kingdom (UK). He mentioned that these free trade agreements, which now include pacts with 38 nations such as the UK and a newly announced agreement with the EU, are crucial not only for their tariff reductions but also for improving market access to advanced economies, fostering stronger trade relations.

Modi pointed out that the integration of Indian products into global supply chains will be significantly enhanced through these FTAs. He emphasized that the increased market access will pave the way for Indian goods and services to thrive in competitive international markets, thereby positioning India as a critical player in global trade networks. The agreements are expected to support various sectors of the Indian economy, particularly MSMEs and StartUps, by broadening their outreach.

Moreover, the Prime Minister touched upon other issues during the interview, such as the government's budgetary measures and the ongoing efforts to boost the defence sector. The finalization of these trade deals, especially in light of India's partnership with the US, signifies a strategic shift in India's economic policy aimed at greater collaboration with Western economies and highlights the government's priorities in fostering economic growth and resilience, potentially leading to enhanced foreign investments and technology transfer into the country.