India and the European Union on Tuesday sealed a landmark free trade agreement, billed as the “mother of all deals". Prime Minister Narendra Modi and top EU leaders unveiled an ambitious agenda to deepen cooperation across trade, investment, defence, and sustainability, and reinforce a rules-based global order.

Welcoming the agreement, RPSG Group Chairman Dr Sanjiv Goenka said the pact marked a strategic shift in India’s global economic engagement.

“The India-EU FTA brings together trade, investment, and sustainability under one strategic lens. Its long-term impact will be felt in higher competitiveness, stronger institutions, and deeper economic ties between two major global economies. A reflection of India's evolving global economic strategy, guided by visionary leadership of Hon'ble Prime Minister Narendra Modi,” Goenka said in a social media post.

Industry leaders said the agreement is expected to unlock fresh growth opportunities across manufacturing, technology, clean energy, and mobility, while strengthening India’s position in global value chains.

Anish Shah, Group CEO and MD of the Mahindra Group, called the FTA a “significant milestone” that would provide the next wave of economic momentum for India. He said the India-EU trade agreement strikes a careful balance between market access and nurturing domestic manufacturing, with meaningful benefits across sectors. Shah highlighted positive implications for the auto industry, including duty-free access to European markets and the potential to attract greater investments from European OEMs into India.

TVS Motor Company Chairman and Managing Director Sudarshan Venu said agreements of this scale go beyond tariff reductions. “They transform business environments, strengthen supply-chain resilience and open pathways for innovation-led Indian manufacturers to compete on the global stage,” he said, adding that TVS would actively pursue opportunities created by the pact in Europe and beyond.

Echoing similar views, ASSOCHAM President and Uno Minda Chairman Nirmal Kumar Minda described the India–EU FTA as one of the most consequential milestones in India’s global trade strategy. He said the trade agreement, coming ahead of the Union Budget 2026–27, reinforces the government’s long-term vision of Viksit Bharat by 2047 and is expected to accelerate trade flows, attract investments and deepen India’s integration with global supply chains.

RPSG Group Chairman Sanjiv Goenka

India–EU FTA to drive competitiveness, deeper economic ties, says RPSG Group Chairman Sanjiv Goenka