India-EU FTA to Boost Trade, Expected to be Signed by Year-End

The India-EU Free Trade Agreement (FTA) is expected to be a game changer, significantly boosting trade between the two sides, according to Lithuanian Ambassador to India Diana Mickevičienė.

In an interview, Mickevičienė said that the agreement, which is ready to be signed, would provide an important foundation for a new generation of engagement between India and the European Union.

The Ambassador expressed hope that the FTA would be signed by the end of this year, with Lithuania holding the Presidency of the Council of the European Union from January to June 2027.

Mickevičienė noted that the agreement would be one of the highlights of Lithuania's EU presidency and an important foundation stone for stronger India-EU engagement.

The pact is described as a major achievement for both India and the EU, as the two sides have found a balance between liberalising access to each other's goods and services and protecting sectors that are vital and potentially vulnerable.

The agreement has been described as the mother of all deals and envisaged as a blueprint for a new generation of international trade agreements.

On India-Lithuania economic ties, Mickevičienė said that the two countries have developing trade and a steady movement of goods and services.

Trade between the two countries is also increasingly moving beyond traditional products, with more components, electronic products and digital devices being traded in both directions.

The Ambassador highlighted the scope for cooperation in artificial intelligence and new technologies, noting that Lithuania has companies working in the sector and Indian IT talent working in the country.

Lithuania would like India to join international efforts to make the convention a global instrument governing the impact of AI on democracy, human rights and shared values.

The India-EU FTA is expected to have a significant impact on the trade relationship between the two sides, with the potential to increase trade volumes and deepen economic cooperation.

The agreement is seen as a strategic breakthrough in India's global trade engagement, and is expected to provide a boost to the country's economy.

In conclusion, the India-EU FTA is a significant development in the trade relationship between the two sides, and is expected to have a major impact on the economy of both India and the EU.

The agreement is a major achievement for both sides, and is expected to provide a foundation for stronger engagement and cooperation in the future.