THE INDIA-EU Free Trade Agreement is a historic milestone in Prime Minister Narendra Modi’s economic diplomacy. It will generate millions of jobs, create vast opportunities for India’s youth and farmers, and create wealth for nearly 2 billion people who together account for a quarter of the global economy.

The agreement between the world’s second and fourth-largest economies is among the biggest trade deals ever signed. In fact, it is far more than a trade deal. It represents a comprehensive partnership that fosters cooperation in critical sectors such as artificial intelligence, defence, and semiconductors. The FTA will benefit every region and citizen of India.

The FTA ensures rules-based trade and stability in economic policies, making India even more attractive for domestic and foreign investment. This will create numerous opportunities for small businesses, startups, and workers.

The world has applauded PM Modi’s announcement, calling it the “mother of all deals”. It comes as a breath of fresh air at a tumultuous time for global trade and supply-chain realignment. The agreement positions India and the EU as trusted partners committed to open markets, predictability, and inclusive growth.

India has secured unprecedented market access for more than 99 per cent of its exports to the EU by trade value, strongly bolstering the Make in India initiative. The FTA gives a decisive boost to labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods, and automobiles.

It will eliminate tariffs of up to 10 per cent on nearly $33 billion worth of Indian exports. The agreement also em- powers workers, artisans, women, youth, and MSMEs, while integrating Indian businesses more deeply into global value chains and reinforcing India’s role as a key supplier in global trade.

The deal also eases mobility for businesspersons and professionals and opens new opportunities in services such as education, information technology, financial services, and computers. These commitments unlock high-value employment opportunities and further strengthen India’s position as a global hub for talent, innovation, and sustainable economic growth.

Trade agreements are part of the Modi government’s broader strategy to improve the lives of the poor-first by strengthening the economy through path-breaking reforms and prudent fiscal management, and then by negotiating with developed and complementary economies with the objective of a win- win deal. This approach enables India to leverage its comparative advantages to access markets which are key for growing its labour-intensive sectors while safeguarding sensitive sectors such as agriculture and dairy.

Trade agreements with developed countries expose Indian industry to healthy competition and provide consumers with world-class products. Unlike the UPA, which recklessly opened India’s markets, the Modi government has negotiated agreements in which tariff reductions are gradual, giving industry adequate time to improve competitiveness and quality with appropriate policy support.

The supply of high-quality products at competitive prices is central to the PM’s Viksit Bharat 2047 vision. Reiterating this commitment last week, the Prime Minister said: “Come, let us prioritise quality with all our might this year. Let our only mantra be quality, quality, and only quality. Better quality today than yesterday. Let us resolve to improve the quality of whatever we manufacture.”

The India-EU FTA is fully aligned with PM Modi’s vision of making India a developed country. It positions India as a dynamic, trusted, and forward-looking partner on the global stage, laying the foundation for inclusive, resilient, and future-ready growth for both regions. The Modi government has concluded trade agreements only with developed countries, which do not compete with India’s major job-creating sectors such as textiles, footwear, gems and jewellery, and handicrafts. This stands in sharp contrast to the UPA regime, which rushed into agreements with competing economies and often conceded far more than India gained.

Moreover, there is no evidence that the UPA government conducted meaningful consultations with stakeholders before signing trade agreements. In contrast, the Modi government has signed FTAs only after rigorous consultations with economists, industry bodies, experts, and multiple government departments and ministries. As a result, every FTA signed by the Modi government has received widespread appreciation from industry.

During the UPA’s tenure, developed countries including the EU – had lost interest in India as economic growth slowed, inflation remained high, and business sentiment was pessimistic. India lost valuable opportunities to conclude win-win trade deals that could have accelerated growth and generated employment.

The India-EU FTA, along with other trade agreements concluded by the Modi government, underlines the difference between drift and decisive leadership. While earlier regimes hesitated and compromised, the Modi government has delivered a transformative agreement that expands markets, creates jobs, and protects India’s core interests. It is a clear demonstration of how strong leadership and strategic clarity can unlock new opportunities which can propel the nation on the path of prosperity.

पीयूष गोयल। वर्ष 2026 भारत के वाणिज्य और उद्योग परिदृश्य में नया विश्वास और आशावाद लेकर आया है। 2025 में उठाए गए निर्णायक कदम व्यापार और निवेश को तेजी से आगे बढ़ाने, छोटे व्यवसायों और स्टार्टअप्स के लिए वैश्विक बाजार तक पहुंच बढ़ाने, रोजगार सृजन करने और प्रत्येक नागरिक के लिए ईज ऑफ लिविंग को बढ़ावा देने के प्रधानमंत्री मोदी जी के मिशन को और मजबूत करने वाले रहे। मोदी सरकार की एक प्रमुख पहल स्टार्टअप्स को बढ़ावा देना रही है। आज भारत में दो लाख से अधिक सरकार द्वारा मान्यता प्राप्त स्टार्टअप्स हैं।

स्टार्टअप्स को समर्थन देने का उद्देश्य आर्थिक विकास को तेज करना, रोजगार के अवसर पैदा करना और प्रत्येक नागरिक, विशेष रूप से गरीबों के जीवन स्तर में सुधार करना है। आज भारत वैश्विक स्तर पर एक भरोसेमंद और विश्वसनीय व्यापार साझेदार के रूप में पहचाना जा रहा है। वैश्विक अनिश्चितताओं के बावजूद वित्त वर्ष 2024-25 में भारत का कुल निर्यात छह प्रतिशत बढ़कर रिकार्ड 825.25 अरब अमेरिकी डॉलर तक पहुंच गया। निर्यातकों को और समर्थन देने के लिए सरकार ने 25,060 करोड़ रुपये का निर्यात प्रोत्साहन मिशन घोषित किया है।

रिपीलिंग एंड एमेंडमेंट एक्ट, 2025 के तहत 71 पुराने और अप्रासंगिक कानूनों को समाप्त किया गया है, जिनमें से कुछ वर्ष 1886 के थे। जन विश्वास पहल के अंतर्गत मोदी सरकार ने छोटे उल्लंघनों से जुड़े कई आपराधिक प्रविधानों को हटाया है। ये सुधार शासन को बेहतर बनाते हैं, कारोबार में आसानी बढ़ाते हैं और यह सुनिश्चित करते हैं कि भारत की कानूनी व्यवस्था आधुनिक अर्थव्यवस्था के अनुरूप हो।

पिछले वर्ष संसद के मानसून सत्र में शिपिंग और पोर्ट्स से जुड़े पांच ऐतिहासिक विधेयक पारित किए गए। इन कानूनों से दस्तावेजीकरण सरल हुआ है, विवाद निपटान आसान हुआ है और लाजिस्टिक्स लागत में उल्लेखनीय कमी आई है। वाणिज्य के मोर्चे पर विदेश व्यापार महानिदेशालय ने पारदर्शी और सहायक नीतियों के जरिये निर्यातकों का सक्रिय रूप से समर्थन किया है। इन पहलों से व्यापारियों, स्टार्टअप्स और छोटे उद्यमियों की उद्यमशीलता को नई उड़ान मिली है।

भारत की व्यापार और निवेश रणनीति का मूल मंत्र स्थानीय उद्यमियों विशेषकर छोटे व्यवसायों, स्टार्टअप्स, किसानों और कारीगरों को सशक्त बनाकर उन्हें वैश्विक सफलता दिलाना है। इसी के अंतर्गत भारत ने पिछले वर्ष तीन मुक्त व्यापार समझौते (एफटीए) किए, जिनसे भारतीय उत्पादों को यूके, न्यूजीलैंड और ओमान जैसे विकसित बाजारों में ड्यूटी-फ्री पहुंच मिली। ये एफटीए भी सुधार प्रक्रिया का हिस्सा हैं। यूपीए सरकार के विपरीत मोदी सरकार ने विकसित देशों के साथ संतुलित और लाभकारी समझौतों को प्राथमिकता दी है।

इन एफटीए से रोजगार सृजन तेज होगा, निवेश बढ़ेगा और छोटे व्यवसायों, छात्रों, महिलाओं, किसानों और युवाओं के लिए परिवर्तनकारी अवसर खुलेंगे। मुक्त व्यापार समझौतों के अतिरिक्त स्विट्जरलैंड, नार्वे, आइसलैंड और लिकटेंस्टीन वाले यूरोपीय मुक्त व्यापार संघ (एफ्टा) के साथ 2024 में किया गया एफटीए भी अब लागू हो चुका है। सभी एफटीए में भारत के कृषि और डेरी क्षेत्रों को सुरक्षित रखा गया है। न्यूजीलैंड और ऑस्ट्रेलिया जैसे बड़े वैश्विक डेरी निर्यातकों के साथ समझौतों में भी यह शामिल है।

इन समझौतों से भारतीय निर्यात को त्वरित या शीघ्र टैरिफ समाप्ति का लाभ मिलता है, जबकि भारत में बाजार खोलना संतुलित और चरणबद्ध रखा गया है। न्यूजीलैंड ने अगले 15 वर्षों में 20 अरब अमेरिकी डॉलर के प्रत्यक्ष विदेशी निवेश की प्रतिबद्धता जताई है, जो भारत द्वारा एफ्टा देशों के साथ किए गए मुक्त व्यापार समझौते में अपनाए गए नवोन्मेषी निवेश-संबद्ध प्रविधानों को प्रतिबिंबित करता है। यह निवेश कृषि, डेरी, एमएसएमई, शिक्षा, खेल और युवा विकास में सहायक होगा, जिससे समावेशी और व्यापक विकास सुनिश्चित होगा।

2024-25 तक के पिछले 11 वित्तीय वर्षों में भारत ने 748 अरब अमेरिकी डालर का प्रत्यक्ष विदेशी निवेश आकर्षित किया, जो उससे पहले के 11 वर्षों में आए 308 अरब अमेरिकी डालर से लगभग ढाई गुना है। यह इसलिए भी महत्वपूर्ण है, क्योंकि मोदी सरकार को एक समय फ्रेजाइल फाइव कही जाने वाली अर्थव्यवस्था विरासत में मिली थी। भ्रष्टाचार-मुक्त शासन, साहसिक सुधारों और वित्तीय अनुशासन के जरिये उन्होंने भारत को व्यापार और निवेश के लिए पसंदीदा गंतव्य बनाया। भारत ने 2025 का समापन एक बड़ी उपलब्धि के साथ किया, जापान को पीछे छोड़ते हुए विश्व की चौथी सबसे बड़ी अर्थव्यवस्था बनना और अब जर्मनी को पीछे छोड़ने की दिशा में तेजी से आगे बढ़ना।

श्रमिकों के लाभ बढ़ाने के लिए मोदी सरकार ने ऐतिहासिक श्रम सुधार किए हैं, जिनके तहत 29 खंडित कानूनों को चार आधुनिक श्रम संहिताओं में समाहित किया गया है। इनका उद्देश्य उचित वेतन, समय पर भुगतान, सामाजिक सुरक्षा और संरक्षण सुनिश्चित करना है, साथ ही महिलाओं की कार्यबल में भागीदारी बढ़ाना है। जीएसटी सुधारों से हर भारतीय नागरिक को लाभ हुआ है, जिससे एक स्वच्छ दो-स्लैब संरचना बनी है। इससे घरों, एमएसएमई, किसानों और श्रम-प्रधान क्षेत्रों पर बोझ कम होगा। 2025 एक सेतु-निर्माण का वर्ष रहा। आगे और भी उत्साहजनक कदम आने वाले हैं। नीति आयोग के सदस्य राजीव गौबा के नेतृत्व में एक पैनल व्यापक सुधारों का अध्ययन कर रहा है, जो प्रधानमंत्री की ‘रिफार्म एक्सप्रेस’ को और तेज करेगा।

भारत का लक्ष्य स्पष्ट है, प्रतिस्पर्धी व्यापार, नवोन्मेषी उद्योग और एक मजबूत, आत्मनिर्भर अर्थव्यवस्था के माध्यम से ‘विकसित भारत’ का निर्माण। भारत के निर्यातकों, निर्माताओं, किसानों और सेवा प्रदाताओं की सफलता ही राष्ट्र की सफलता है। भारत सिर्फ भविष्य की तैयारी नहीं कर रहा, वह उसे आकार दे रहा है। निर्णायक नेतृत्व, साहसिक सुधारों और स्पष्ट वैश्विक रणनीति के साथ भारत अपनी शर्तों पर एक मजबूत, आत्मनिर्भर और विश्वसनीय राष्ट्र के रूप में दुनिया से जुड़ रहा है।

India now has one of the world’s largest startup ecosystems. The Startup India initiative has evolved into an inclusive and innovative ecosystem across the country channelising youthful entrepreneurial energy to create jobs and accelerate economic growth, paving the way for the Viksit Bharat 2047 mission.

This transformation did not happen overnight. Startup India was announced by PM Modi from the ramparts of Red Fort on Independence Day in 2015. It was launched by the Department for Promotion of Industry and Internal Trade (DPIIT) on Jan 16, 2016. Today, startups are energising some of the most critical sectors of the economy.

Innovation & Al | A defining shift over the past decade has been the growing focus on innovation and deep technology. India’s rank in the Global Innovation Index has improved from 81 in 2015 to 38 last year, and govt support for deep tech ventures will improve it further. The number of AI startups is rising rapidly, building on the Digital India initiative.

A vision for building a deep-tech nation has led to the establishment of the Anusandhan National Research Foundation, and the launch of the India AI Mission and the Research Development and Innovation Scheme. India’s startups are also innovating across areas like aeronautics, aerospace and defence, robotics, green technology, Internet of Things and semiconductors.

A sharp rise in intellectual property creation reinforces this trend. Indian startups have filed more than 16,400 new patent applications, reflecting a stronger focus on innovation, long-term value creation, and global competitiveness.

Pan-India growth | From just four states with startup policies in 2016, there are now DPIIT-recognised startups in every state and UT, underscoring the depth of institutional support and grassroots participation. More than 200,000 startups have been recognised so far, representing a decade of sustained, policy-led ecosystem development. In 2025 alone, more than 49,400 startups were recognised, the highest annual growth since Startup India began.
Inclusion has been a cornerstone of this journey. Women-led entrepreneurship has emerged as a major strength, with more than 45% of recognised startups having at least one woman director. About half the startups are based in non-metro cities, highlighting the growing role of Tier II and Tier III cities as engines of innovation and employment.

Local to global | As Indian startups scale, the world is incre- asingly their marketplace. To support global ambitions, Startup India has built strong international partnerships. Now, 21 international bridges and two strategic alliances facilitate market access, collaboration, and expansion across key economies, including UK, Japan, South Korea, Sweden and Israel. More than 850 startups have already benefitted from these initiatives.

In my recent visits to Sweden, Switzerland, New Zealand, and Israel, startups were an integral part of India’s business delegations. These engagements provided a platform to showcase Indian innovation globally, while exposing our entrepreneurs to innovation and business practices in developed economies.

Reforms, market access | Improving the ease of doing business has been central to enabling this growth. Eligible startups can avail of a tax holiday for three consecutive years within their first decade. More than 4,100 startups have already received eligibility certificates. Over 60 regulatory reforms have reduced compliance burdens, facilitated capital raising, and strengthened domestic institutional investment. Abolition of angel tax and opening up of long-term capital pools to Alternate Investment Funds (AIFS) have further strengthened the startup funding ecosystem.

Access to markets has been prioritised. Through the Government e-Marketplace, over 35,700 startups have been onboarded, securing more than 5L orders worth over 51,200cr.
These efforts are complemented by strong financial support. Over 25,500cr has been invested by AIFs under the Fund of Funds for Startups scheme, benefitting more than 1,300 enterprises. Additionally, collateral-free loans worth over 800cr have been guaranteed under the Credit Guarantee Scheme for Startups.

Startup India Seed Fund Scheme with an outlay of ₹945cr provides financial assistance to startups for Proof of Concept, prototype development, product trials, market-entry and commercialisation.

Mindset change | Indian startups heralded a significant cultural change in the country, where children were once encouraged to aim only for jobs in a few sectors such as govt service, engineering or medicine. Today, many young Indians aspire to be job creators, not job seekers, and their families respect and encourage entrepreneurial ambitions.

India’s startup journey is ultimately a story of confidence in our young entrepreneurs, in policy-led growth, and in India’s capacity to innovate for the world. As we move confidently towards our mission to become a developed country by 2047, startups will remain central to building a prosperous, inclusive, and globally competitive India.

Atal Bihari Vajpayee was not only a politician and Prime Minister, he was the conscience-keeper of India’s democracy and a statesman who taught the nation how to combine courage with compassion, conviction with inclusiveness, and nationalism with humanity. His impeccable legacy continues to inspire the transformational changes being carried forward by the Modi govt.
Vajpayee’s life remains a guiding light for all those who believe that governance can be effective, corruption-free, and rooted in concern for the common man. Appropriately, his birthday, Dec 25, is observed as Good Governance Day.
His decency, simplicity, sensitivity and poetry endeared him to people across generations. I have fond childhood memories of his regular stays at our Mumbai home.
One afternoon, while I was playing marbles in the living room, he noticed me struggling to hit a marble. Sitting beside me, he placed his palm on his knee and accurately flicked a marble with his index finger to strike the target nearly eight feet away. I was awestruck. That moment forged an intimate bond with ‘Chachaji’, as we children called him.

As a school-going boy, I had gone to the airport tarmac to meet him as he embarked on a four-day tour of western Maharashtra. When he learnt my holidays had started, he invited me to accompany him. I was completely unprepared, yet Chachaji ensured I was comfortable – buying me Kolhapuri chappals and clothes at the first stop.
I remember a speech he delivered in Sangli honouring the legendary Lata Mangeshkar. For nearly an hour, Vajpayee mesmerised the audience with his reflections on Indian culture, tradition and music-without a word of politics. It reminds one of PM Modi’s Mann Ki Baat, which similarly rises above politics to engage with society at large.

Vajpayee was a deeply grounded leader, rooted in India’s civilisational ethos. He was the first Indian leader to address the UN General Assembly in Hindi, a precedent later followed by PM Modi, who uses the national language not only at multilateral forums but even while addressing leaders of English-speaking nations.
His legacy continues to inspire us. In my constituency of North Mumbai, a successful Skill Development and Job Center is named after him. This year’s budget provided for setting up 50,000 Atal Tinkering Labs in govt schools to encourage innovation and a scientific temper.

His philosophy of strength – India conducted nuclear tests during his tenure – tempered with sensitivity is visible today in PM Modi’s governance, where decisive action to strengthen national security goes hand in hand with compassion through initiatives such as free homes, toilets, foodgrains, cooking gas connections, healthcare coverage, and direct benefit transfers.

In his I-Day address in 2000, Vajpayee declared, “To reform is to improve the life of every citizen. There is no scope for apprehension or fear about economic reforms.”

His govt undertook far-reaching reforms in banking, telecom, insurance, pensions and disinvestment of sick PSUs, while simultaneously expanding social initiatives such as universal primary education and Antyodaya Anna Yojana, which provided highly subsidised foodgrains to the poorest households. PM Modi is taking these, and other transformational initiatives forward in a mission mode as Reform Express.

Vajpayee clearly understood that enduring national strength rests on robust infrastructure. Landmark initiatives such as the Golden Quadrilateral and Pradhan Mantri Gram Sadak Yojana transformed connectivity, integrated markets, and brought remote regions into the national mainstream.

These initiatives laid the foundation for India’s present-day infrastructure transformation. It was Vajpayee who recognised the strategic importance of a tunnel connecting Himachal Pradesh to Ladakh and J&K. PM Modi fittingly named it the Atal Tunnel, honouring the visionary.

For BJP, Vajpayee is special – a founding member and its first president. In the party’s first national convention in 1980 he prophetically said, “Andhera chhatega, sooraj niklega, kamal khilega” (Darkness will disappear, the sun will rise, the lotus – BJP’s symbol – will bloom).

For BJP, he is not merely a leader of the past, he is a moral compass for the present and future. Under PM Modi’s leadership, India is fulfilling many of the aspirations he envisioned-a confident, self-reliant nation that commands respect across the world.

The India–New Zealand Free Trade Agreement (FTA) represents a strategic leap in Prime Minister Narendra Modi’s trade diplomacy — one that accelerates job creation, boosts investment, and opens transformative opportunities for small businesses, students, women, farmers, and youth across India.

Announced jointly by Prime Minister Narendra Modi and New Zealand Prime Minister Rt. Hon. Christopher Luxon, this agreement is the seventh FTA negotiated by the Modi government and the third major trade pact concluded in 2025, following landmark, win-win agreements with the United Kingdom and Oman. Significantly, all these FTAs are with developed economies with substantially higher per-capita incomes than India, underscoring India’s growing strength and credibility in global trade negotiations.

Each agreement has been negotiated after extensive consultations with all stakeholders, ensuring balanced outcomes and genuine win-win engagement with the developed world.

Jobs, Growth and Market Access
A central pillar of this FTA is job creation. New Zealand will provide zero-duty access to 100% of Indian exports, delivering a major boost to India’s labour-intensive sectors such as textiles, leather, apparel, footwear, marine products, gems and jewellery, handicrafts, and engineering goods. This directly benefits Indian workers, artisans, women entrepreneurs, youth, and MSMEs.

India has also secured its best-ever market access and services offer, covering 118 services sectors, including telecommunications, construction, IT, financial services, travel, and tourism. This expanded access will generate large-scale employment and new growth avenues for Indian professionals and businesses.

Opportunities for Professionals, Students and Youth
The agreement provides improved entry and stay provisions for Indian professionals and students. It enables work opportunities during studies, post-study employment, and a structured working-holiday visa framework.

STEM graduates and post-graduates can now work for up to three years, while doctoral scholars can work for four years, creating unprecedented global exposure and career pathways for India’s youth. A new Temporary Employment Entry Visa further supports skilled Indian professionals seeking international opportunities.

Farmers to Flourish
Prime Minister Modi’s vision is clear: Indian farmers must play a meaningful role on the global stage. The FTA reflects this commitment.

The agreement establishes an Agricultural Productivity Partnership covering apples, kiwi, and honey, aimed at enhancing domestic productivity and increasing farmer incomes. New Zealand has also committed to GI-level protection for Basmati rice, offering strong support to Indian rice farmers.

Crucially, India has ensured that sensitive sectors such as rice, dairy, wheat, soya, and other key agricultural products remain fully protected, with no market opening that could harm domestic livelihoods.

Innovative FTAs and Investment Commitments
India’s FTAs today go well beyond tariff reductions. They are instruments to unlock new opportunities for farmers, MSMEs, women, and youth, while safeguarding national interests.

With various trade agreements, Indian exports benefit from immediate or rapid tariff elimination, while India’s own market opening remains calibrated and gradual. New Zealand has committed Foreign Direct Investment of USD 20 billion over the next 15 years, mirroring the innovative investment-linked provisions in India’s FTA with EFTA countries—Switzerland, Norway, Iceland, and Liechtenstein.

For New Zealand, this marks a giant leap in Foreign Direct Investment in India. Over the past 25 years, New Zealand invested about ₹643 crore in India. The new commitment—approximately ₹1.8 lakh crore over 15 years—represents a dramatic expansion, backed by a clawback mechanism if investment targets are not met.

Much of this investment will support agriculture, dairy, MSMEs, education, sports, and youth development, ensuring broad-based and inclusive growth.

India’s First Women-Led FTA
This agreement also marks a historic milestone: it is India’s first women-led FTA. Almost the entire negotiating team—from the chief negotiator and deputy chief negotiator to leads for goods, services, investment, and our ambassador to New Zealand—comprised women. Our women of substance are increasingly playing leadership roles in the PM’s development agenda.

India’s FTA Strategy
The India–New Zealand FTA exemplifies India’s clear strategy: partnering with developed economies that open their markets to India’s labour-intensive industries without competing unfairly with Indian products.

Trade agreements under the Modi government are not transactional—they are part of a broader mission to strengthen the economy and improve the lives of Indians, especially the poorest of the poor. This strategy has transformed India from being labelled among the “Fragile Five” in 2014 to becoming an engine of global growth and a preferred partner for trade and investment worldwide.

Today, India negotiates from a position of confidence and strength, ensuring that agriculture, dairy, and other sensitive sectors are fully protected, and that agreements are signed only when they deliver mutual benefit.

Refreshing Change in Trade Governance
India’s current approach stands in sharp contrast to the past. Earlier trade strategies recklessly exposed Indian markets to low-cost imports, endangered small businesses and jobs — often without adequate consultation. The decisive leadership of Prime Minister Modi has restored India’s stature, credibility, and negotiating power on the global stage.
The India–New Zealand FTA, applauded across Indian industry, is a product of this refreshing change in governance since 2014.

By integrating goods, services, investment, and mobility—while safeguarding national interests—the agreement reflects India’s modern, inclusive, and balanced trade diplomacy. As India and New Zealand deepen economic integration, this FTA demonstrates how trade can unlock markets while delivering human-centric growth and shared prosperity across borders.

Union commerce minister argues trade pact with UK will not just make India a major exporter to Britain and benefit Indian companies, it will also increase incomes in farming & fishing communities

The landmark India-UK Comprehensive Economic and Trade Agreement (CETA) will make Indian farmers, fishermen, artisans and small businesses shine globally, create numerous jobs and help the common man get high-quality goods at competitive rates in line with PM’s vision.

This follows similar agreements with other developed countries including Australia, European Free Trade Association (EFTA) countries and UAE. It is a part of Modi govt’s strategy to maximise economic growth and job creation to achieve the dream of Viksit Bharat 2047.

GOI strategy | In 2014, Modi govt adopted a determined strategy to rebuild global confidence in the Indian economy and make it attractive for Indian and foreign investors. Signing FTAs with developed countries is a part of this wider strategy. FTAs also increase investor confidence by removing uncertainty about trade policies.

FTAs with developed countries, which do not have competing trade interests with India, are a win-win situation, unlike the previous govt’s approach of endangering Indian businesses by recklessly opening India’s doors to competitors.

In UPA’s term, developed countries had abandoned trade talks with India, then regarded as one of the world’s ‘Fragile Five’ economies. Under PM’s leadership, India’s GDP has almost tripled since 2014 to about ₹331L cr. Game-changing reforms, ease of doing business and PM’s global stature helped India emerge as a compelling opportunity. Today, the world wants to participate in the India story – and sign FTAs.

Market access, competitive edge | CETA will ensure comprehensive market access for Indian goods in the UK market across sectors. It eliminates tariffs on about 99% of tariff lines covering almost 100% of trade value. This creates huge opportunities for the $56bn bilateral trade that’s estimated to double by 2030 with CETA’s help.

Small businesses will prosper as Indian products will have a clear competitive edge over rivals. Companies that make soccer balls, cricket gear, rugby balls and toys, among other products, are poised to significantly expand business in UK.

Numerous jobs | India’s competitiveness will boost exports substantially and trigger a wave of investment and job creation. India is well-positioned to become one of the top three suppliers to UK in textiles, leather, and footwear, which will help small businesses, artisans including women, and craftsmen emerge as key players in global value chains. Gems & jewellery, engineering goods, chemicals and electronic products such as phones are also expected to see exports jump.

Farmers first | Over 95% of agricultural and processed food tariff lines will attract zero duty, paving the way for rapid rise in agri-exports and rural prosperity. Duty-free market access is estimated to increase agri-exports by over 20% in three years, contributing to India’s goal of $100bn agri-exports by 2030 as CETA unlocks the premium UK market for Indian farmers, matching or exceeding benefits enjoyed by Germany, Netherlands, and other EU nations.

Turmeric, pepper, cardamom, and processed goods like mango pulp, pickles, and pulses will also get dutyfree access. Higher exports will boost farm income and give greater incentives for quality, packaging and certification. It will create numerous jobs across the agricultural value chain.

Protecting the vulnerable | CETA excludes India’s most sensitive agri sectors to protect domestic farmers. India has given no tariff concessions on dairy products, apples, oats and cooking oils. These exclusions reflect Modi govt’s strategy of prioritising food security, domestic price stability, and vulnerable farming communities.

Fishermen to flourish | Indian fishermen, particularly those in Andhra, Odisha, Kerala and Tamil Nadu, will see dramatic expansion through access to UK’s marine import market. UK’s import duty on shrimp and other marine products will fall to zero from the current level of up to 20%. The potential is phenomenal as India has only 2.25% of UK’s $5.4bn marine imports.

Services & professionals | The agreement will catalyse services including IT/ITeS, financial services and education, creating new avenues for Indians. India has secured favourable mobility provisions for skilled professionals, including contractual service providers, business travellers, investors, yoga instructors, musicians and chefs.

Innovative FTAs | Under PM’s leadership, India’s FTAs go far beyond goods and services. They set new benchmarks. With EFTA countries, India had secured a guarantee of $100bn investment that will create 1mn direct jobs in India. With the Australian FTA, India resolved the double-taxation issue troubling IT companies.

One of the most significant aspects of the agreement with UK is the Double Contribution Convention. This exempts employers and temporary Indian workers in UK from social security contributions for three years. This will significantly enhance the competitiveness of Indian service providers.

Quality goods | Trade agreements increase competition, which helps Indian consumers get high-quality goods at competitive prices. Modi govt has provided policy support, issued Quality Control Orders and negotiated FTAs to encourage and incentivise quality.

GOI has held extensive stakeholder consultation with industry and other stakeholders before signing any FTA. It is heartening to note that industry bodies have overwhelmingly supported and welcomed every FTA signed by Modi govt.

CETA is a benchmark for equitable and ambitious trade deals between large economies. It opens up attractive global opportunities for the underprivileged, without compromising our core interests. It is a shining example of how New India does business.

पीयूष गोयल के अनुसार भारत और ब्रिटेन के बीच एक ऐतिहासिक मुक्त व्यापार समझौता हुआ है जिससे रोजगार के अवसर बढ़ेंगे और भारतीय व्यवसायों को वैश्विक पहचान मिलेगी। यह समझौता मोदी सरकार की 2047 तक भारत को विकसित बनाने की रणनीति का हिस्सा है। समझौते से कृषि निर्यात में वृद्धि होगी किसानों को लाभ होगा और सूचना प्रौद्योगिकी जैसे क्षेत्रों में नए अवसर उत्पन्न होंगे।

पीयूष गोयल। भारत और ब्रिटेन के बीच ऐतिहासिक मुक्त व्यापार समझौते यानी एफटीए पर सहमति बन गई है। भारत-यूके व्यापक आर्थिक एवं व्यापार समझौता (सीईटीए) के अस्तित्व में आने से रोजगार के असंख्य अवसर सृजित होंगे। भारतीय किसानों, मछुआरों, कारीगरों और व्यवसायों को नई वैश्विक पहचान मिलेगी। उच्च गुणवत्ता वाली वस्तुओं की किफायती दरों पर पहुंच भी सुनिश्चित होगी।

सीईटीए की संकल्पना आस्ट्रेलिया, संयुक्त अरब अमीरात और कुछ अन्य देशों के साथ हुए मुक्त व्यापार समझौतों के अनुरूप ही है। यह मोदी सरकार की भारत को 2047 तक विकसित बनाने की संकल्पना से जुड़ी रणनीति का एक हिस्सा है।

मोदी सरकार ने भारतीय अर्थव्यवस्था में वैश्विक विश्वास को फिर से स्थापित करने तथा इसे भारतीय और विदेशी निवेशकों के लिए आकर्षक बनाने के लिए एक दृढ़ रणनीति अपनाई है। विकसित देशों के साथ एफटीए इस रणनीति के केंद्र में है। ऐसे समझौते व्यापार नीतियों से जुड़ी अनिश्चितताओं को दूर करके निवेशकों का विश्वास बढ़ाते हैं।

पिछली यूपीए सरकार ने भारत के दरवाजे प्रतिद्वंद्वी देशों के लिए खोलकर भारतीय व्यवसायों को खतरे में डालने वाला रवैया अपनाया था। यूपीए सरकार में विकसित देश भारत के साथ व्यापार समझौते के अनिच्छुक थे, क्योंकि तब देश की गिनती दुनिया की पांच नाजुक अर्थव्यवस्थाओं में होने लगी थी। वहीं, प्रधानमंत्री मोदी के नेतृत्व में आर्थिकी की काया ही पलट गई। भारत का सकल घरेलू उत्पाद 2014 से लगभग तिगुना बढ़कर लगभग 331 लाख करोड़ रुपये हो गया है।

क्रांतिकारी सुधारों, कारोबारी सुगमता और प्रधानमंत्री के वैश्विक व्यक्तित्व ने भारत को एक आकर्षक आर्थिक गंतव्य के रूप में उभारने में मदद की है, जहां विपुल संभावनाएं हैं। आज दुनिया भारत की अद्भुत विकासगाथा का हिस्सा बनना चाहती है। प्रमुख देशों द्वारा एक के बाद एक एफटीए इसी मान्यता की पुष्टि करते हैं।

ब्रिटेन के साथ यह व्यापार समझौता बाजार पहुंच और प्रतिस्पर्धात्मक बढ़त दिलाएगा। यह करीब 99 प्रतिशत टैरिफ समाप्त करता है, जो लगभग शत प्रतिशत व्यापार मूल्य को कवर करता है। यह 56 अरब डॉलर के द्विपक्षीय व्यापार के लिए अपार अवसर बनाएगा, जिसके 2030 तक दोगुना होने का अनुमान है। इससे छोटे व्यवसाय समृद्ध होंगे, क्योंकि भारतीय उत्पादों को प्रतिद्वंद्वियों पर प्रतिस्पर्धात्मक बढ़त हासिल होगी।

खेल उपकरण बनाने वाली कंपनियों के कारोबार में भारी विस्तार होगा। विश्व के एक आकर्षक बाजार में भारत की प्रतिस्पर्धात्मक बढ़त चमड़ा और जूते, वस्त्र, समुद्री उत्पाद और रत्न एवं आभूषण जैसे श्रम-प्रधान क्षेत्रों के लिए मददगार साबित होगी।

इन क्षेत्रों में, जहां कई छोटे व्यवसाय संचालित होते हैं, निवेश और रोजगार सृजन के अवसर पैदा होंगे। भारत के चमड़ा और जूता निर्यात में भारी वृद्धि होने की उम्मीद है। भारत वस्त्र, चमड़ा और जूते के क्षेत्र में ब्रिटेन के शीर्ष तीन आपूर्तिकर्ताओं में से एक बनने की बेहतर स्थिति में है।

इस समझौते के बाद 95 प्रतिशत से अधिक कृषि और प्रसंस्कृत खाद्य टैरिफ लाइनों पर शून्य शुल्क लगेगा, जिससे कृषि निर्यात और ग्रामीण समृद्धि में तेज वृद्धि का मार्ग प्रशस्त होगा। इससे अगले तीन वर्षों में कृषि निर्यात में 20 प्रतिशत से अधिक की वृद्धि का अनुमान है, जो 2030 तक भारत के 100 अरब डालर के कृषि-निर्यात के लक्ष्य को पूरा करने में योगदान देगा।

इससे भारतीय किसानों के लिए प्रीमियम ब्रिटिश बाजार के द्वार खुलेंगे, जो जर्मनी, नीदरलैंड और अन्य यूरोपीय संघ के देशों को मिलने वाले फायदे के बराबर या उससे भी अधिक होगा। हल्दी, काली मिर्च, इलायची, प्रसंस्कृत उत्पादों, अचार और दालों को भी शुल्क-मुक्त पहुंच मिलेगी। निर्यात बढ़ने से कृषि आय में वृद्धि होगी तथा गुणवत्ता, पैकेजिंग और प्रमाणन के लिए अधिक प्रोत्साहन मिलेगा। इससे कृषि मूल्य शृंखला में रोजगार के असंख्य अवसर सृजित होंगे।

घरेलू किसानों की सुरक्षा के लिए एफटीए में भारत के सबसे संवेदनशील कृषि क्षेत्रों को बाहर रखा गया है। भारत ने डेरी उत्पादों, सेब, जई और खाद्य तेलों पर कोई शुल्क रियायत नहीं दी है। यह मोदी सरकार की खाद्य सुरक्षा, मूल्य स्थिरता और कमजोर कृषक समुदायों को प्राथमिकता देने की रणनीति को दर्शाता है।

समझौते से भारतीय मछुआरों, विशेष रूप से आंध्र प्रदेश, ओडिशा, केरल और तमिलनाडु के मछुआरों की ब्रिटिश बाजार में पहुंच सुगम होगी। यह समझौता सूचना प्रौद्योगिकी एवं संबंधित सेवाओं, वित्तीय सेवा और शिक्षा सहित अन्य सेवाओं में भारतीयों के लिए नए अवसर बनाएगा।

प्रधानमंत्री मोदी के नेतृत्व में भारत के एफटीए वस्तुओं और सेवाओं से कहीं आगे तक जाते हैं। आस्ट्रेलियाई एफटीए के साथ भारत ने दोहरे कराधान का मुद्दा सुलझाया, जो आईटी कंपनियों की परेशानी बढ़ा रहा था। ब्रिटेन के साथ समझौते का एक अहम बिंदु दोहरे अंशदान से जुड़ा है। यह ब्रिटेन में नियोक्ताओं, अस्थायी भारतीय कर्मियों को तीन वर्षों के लिए सामाजिक सुरक्षा अंशदान से छूट देता है। इससे भारतीय सेवा प्रदाताओं की प्रतिस्पर्धा बढ़ेगी।

व्यापार समझौते प्रतिस्पर्धा बढ़ाते हैं, जिससे भारतीय उपभोक्ताओं को प्रतिस्पर्धी कीमतों पर उच्च-गुणवत्ता वाली वस्तुएं प्राप्त करने में मदद मिलती है। मोदी सरकार ने गुणवत्ता को प्रोत्साहित करने और बढ़ावा देने के लिए नीतिगत समर्थन प्रदान किया है। गुणवत्ता नियंत्रण आदेश जारी किए हैं और मुक्त व्यापार समझौतों पर बात आगे बढ़ाई है।

सरकार ने किसी भी मुक्त व्यापार समझौते पर हस्ताक्षर से पहले उद्योग जगत और अन्य हितधारकों के साथ गहन परामर्श किया है। यह जानकर खुशी होती है कि उद्योग जगत ने इन व्यापार समझौतों का व्यापक रूप से समर्थन एवं स्वागत किया है। इसी कड़ी में ब्रिटेन के साथ यह समझौता बड़ी अर्थव्यवस्थाओं के बीच न्यायसंगत और महत्वाकांक्षी व्यापार समझौतों के लिए एक मानक है।

यह हमारे मूल हितों से समझौता किए बिना, वंचित समुदायों के लिए आकर्षक वैश्विक अवसरों के द्वार खोलता है। यह इस बात का एक प्रखर उदाहरण भी है कि नया भारत व्यापार किस प्रकार करता है।

The platform has helped to weed out corruption and provide business opportunities to startups, MSMEs, women and businesses in small towns.

The Government e-Marketplace (GeM) has rapidly emerged as a world leader in providing a transparent, inclusive and efficient platform for public procurement. It connects more than 1.6 lakh government buyers with 23 lakh sellers and service providers, becoming a key engine of Prime Minister (PM) Narendra Modi’s vision of Viksit Bharat 2047.

In nine years since PM Modi launched the transformative digital initiative, GeM has revolutionised the way government buys goods and services by weeding out corruption and giving business opportunities to startups, MSMEs, women and businesses in small towns.

The user-friendly platform is a true gem that has replaced the notorious directorate general of supplies and disposals, which had opaque and uncompetitive systems that gave an unfair advantage to a privileged few. Befittingly, the commerce and industry ministry’s new office, Vanijya Bhawan, has been built on land once occupied by this obsolete body.

Since its inception in 2016, orders worth more than ₹13.4 lakh crore have been transacted on the GeM portal. Public procurement via the platform rose to a record ₹5.43 lakh crore in 2024-25. GeM aims to raise its annual business to ₹7 lakh crore in the current fiscal. GeM has undoubtedly emerged as a technological behemoth in the public procurement landscape. The magnitude of business transacted is likely to make it the world’s largest public procurement portal, surpassing well-established institutions like South Korea’s KONEPS, in the near future.

GeM has given greater opportunities to honest businesses, created jobs, and supported India’s economic growth. In this context, GeM’s significance goes far beyond its phenomenal growth in financial terms. GeM also serves as a critical engine of equitable growth in line with PM Modi’s mission of sabka saath, sabka vikaas. It provides startups, small businesses and women-led enterprises an easy path to showcase their products and services to government buyers without any intermediaries. By eliminating barriers to entry, the platform empowers small, home-grown businesses to participate in e-tenders and expand their businesses.

Guided by the principle of inclusivity, GeM has incorporated various strategic initiatives to support the growth of small businesses. These include systems to help government buyers identify and select products and services offered by MSEs and women-led businesses.

Dedicated storefronts on GeM like Startup Runway and Womaniya have effectively increased the visibility of these businesses as well as their share in public procurement. This has helped the government meet and exceed its goals of 25% procurement from Micro and Small Enterprises (MSEs) and 3% from women-led businesses. Nearly 38% of the business transacted on GeM is awarded to MSEs, and procurement from women enterprises stands at nearly 4%.

As of April 2025, more than 30,000 startups have conducted business worth over ₹38,500 crore through GeM. Further, 181,000 Udyam-verified women entrepreneurs have secured orders worth nearly ₹50,000 crore on the GeM portal.

These changes have translated into savings ranging from 33% to 96% for certain order sizes. This remarkable reduction is a welcome change in line with the government’s mission to enhance Ease of Doing Business and Ease of Living for the benefit of the citizens of the country.

An independent evaluation by the World Bank shows that buyers on GeM save about 9.75% on the median price. This has led to huge savings of an estimated ₹1.15 lakh crore in public procurement using taxpayer money. GeM procurement helped state-run NTPC save ₹2,000 crore using reverse auction in a ₹20,000-crore contract. GeM has also helped transparent and cost-effective procurement of defence equipment, vaccines, drones and services like insurance.

In a major relief to small enterprises, GeM has significantly reduced its transaction charges recently. Orders exceeding ₹10 lakh will incur lower transaction charge of 0.30%, while orders worth over ₹10 crore will incur a capped fee of ₹3 lakh — a significant decrease from the previous ₹72.50 lakh.

With a robust technological infrastructure, the platform is continuously evolving by offering new and easier ways to do business using technological solutions. GeM has deployed an AI-powered chatbot called GeMAI, a tool trained in conversational analytics and business intelligence. The smart chatbot is available in eight vernacular languages and is equipped with latest technologies including voice command functionality to further enhance Ease of Doing Business on GeM portal.

GeM also offers financing products for MSE sellers. This gives collateral-free financing in less than 10 minutes for eligible purchase orders. The platform has introduced GeM Sahay 2.0, which serves as a single window to secure loans up to ₹10 lakh. More initiatives and technological solutions are in the works to make the platform more inclusive and competitive.

The GeM portal stands as a pivotal engine in driving India’s economic growth and development objectives of PM Modi. It will always run the extra mile to empower and uplift the marginalised sections of the society and promote entrepreneurship, while ensuring that taxpayer money is efficiently used to procure high-quality products at a competitive price.

Minister of commerce argues, in the context of a startup meet today, GOI’s supporting policies for entrepreneurship are creating a culture where new ideas and R&D are becoming the norm.

After the success of Mahakumbh at Prayagraj sangam, it’s time to celebrate the confluence of three streams of development – innovation, job creation and entrepreneurship, carrying forward PM’s vision of vikas (development) and virasat (heritage) for a vibrant India.

The three streams will converge at Startup Mahakumbh on April 3. Like the spiritual gathering at Prayagraj, Startup Mahakumbh is being organised on a grand and global scale.

The event will bring together over 3,000 startups, 1,000+ investors, 500+ speakers, and more than 15k delegates and business visitors from across the globe, with participation from over 50 countries. It will be a powerful platform for startups to explore collaborations, mentorship, funding, and access to new markets. With masterclasses, knowledge sessions, and networking forums, the event will not only fuel innovation but also inspire the next generation of entrepreneurs to launch their own ventures.

Also, a three-tier investor-led jury process will select 150 finalists in what will be India’s largest private sector funded Grand Innovation Challenge with a ₹50cr prize pool.

Innovation | Be it the game of chess or the concept of ‘zero’ in ancient India, or UPI, Chandrayaan and Mangalyaan of today, innovation has always been a part of the Indian DNA. New ideas, innovative goods and services achieved through healthy R&D will propel India in its mission to become a developed country by 2047. Appropriately, the theme of the event is Startup India @2047.

In his Independence Day speech in 2015, PM articulated his vision of making India a global startup hub and transforming the country into a nation of job creators. Shortly thereafter, the Startup India initiative was launched.

It has unleashed a groundswell of youthful energy that’s transforming India’s entrepreneurial landscape. The number of registered startups has risen exponentially from just about 500 in 2016 to about 1.7L now. These ventures are spread across more than 55 sectors including fintech, deeptech, edtech, nanotech, biotech, space tech, agri tech and health tech, helping India emerge as a cradle of major tech-driven entrepreneurship.

GOI is also taking initiatives to support funding of startups. Last year’s budget abolished Angel Tax, a move applauded by new entrepreneurs. This year, the budget launched a new ₹10k cr Fund of Funds.

Jobs & solutions | Govt registered startups have created 17.69L direct jobs as on Jan 31, 2025. They’re providing cutting-edge solutions to real-world challenges. Revolutionising breast cancer detection with non-invasive, AI-powered thermal imaging tech; simplifying rural trading by connecting farmers directly with buyers; providing affordable and efficient payment gateway solutions; creating ecofriendly products that convert waste to wealth; securing cyberspace are but a few among several examples of challenges addressed by our startups for India and the world.

Indian startups are nimble and quick-footed. During the pandemic, startups that had developed strong analytical solutions, drones, telecom platforms etc quickly pivoted to leverage these technologies for contact tracing, quarantine monitoring, and developing dashboards for war rooms. They played a key role in producing critical equipment such as PPE kits, ventilators, and sample collection products and services.

Entrepreneurial culture | The Startup India initiative has significantly transformed the country’s entrepreneurial mindset. Where once families sought the comfort of a secured job, today they encourage and take deep pride in entrepreneurial adventures of their young family members. This is driving our energetic youth to become job creators instead of job-seekers.

Ventures born out of such energy are scaling new heights. The number of Indian unicorns having more than $1bn valuation has jumped from less than 10 before 2016 to more than 110 today, with a collective valuation of over $385bn, according to industry estimates.

Support in public procurement | Our govt has made special provision of preferential treatment for eligible startups in the Govt e-Marketplace (GeM). This platform gives sellers transparent and corruption-free access to procurement by govt departments, thereby helping entrepreneurs bypass complex procedures and entrenched vested interests that operated before its launch.

GeM has enabled 29,780 govt-registered startups to fulfil 4,09,155 orders worth ₹37,460cr with the help of democratised market access, easy product listing and relaxation in the requirements of turnover and experience in public procurement.

Beacons of New Bharat | Today, startups are beacons of hope of New Bharat. The thriving startup ecosystem is transforming the Indian economy to enhance ‘Ease of Living’ for our citizens. Prayagraj Mahakumbh showcased India’s spiritual grandeur to the world and made our youth proudly embrace our culture, heritage and beliefs. The startup ecosystem built and nurtured by PM is helping youth embrace the entrepreneurial culture that’ll make Bharat a global powerhouse of innovation, new tech and new ideas.