New Delhi: Prime Minister Narendra Modi on Tuesday said that India and the European Union have signed an agreement that will provide various opportunities
for the people in India and Europe. He added that together these regions account for 25 percent of the Gross Domestic Product (GDP).
‘FTA will help complementing existing agreements.’
Addressing the India Energy Week via video conference, being held in Goa, the PM, while calling it the ‘mother of all trade’, said that the Free Trade Agreement (FTA) with the EU will help in complementing the existing agreements with the UK and the European Free Trade Association (EFTA).
“Yesterday, a major agreement was signed between India and the European Union, widely regarded as the “mother of all deals.” This landmark deal presents significant opportunities for India’s 1.4 billion people and for millions across the EU. Together, these regions account for 25% of global GDP and one-third of global trade. Beyond economics, the agreement also reaffirms our shared commitment to democracy and the rule of law,” the PM said.
He added, “This free trade agreement with the EU will complement existing agreements with the United Kingdom and members of the European Free Trade Association (EFTA).”
Yesterday, a major agreement was signed between India and the European Union, widely regarded as the “mother of all deals.” This landmark deal presents significant opportunities for India’s 1.4 billion people and for millions across the EU. Together, these regions account for 25%… pic.twitter.com/nmmkNHIbsL
— BJP (@BJP4India) January 27, 2026
India boasts a significant refining capacity: PM Modi
“India boasts a significant refining capacity, currently ranking second in the world and poised to soon become the leader. Our present refining capacity stands at approximately 260 MMTPA, and we are actively working to increase this to 300 MMTPA. This substantial capacity presents a major advantage for investors”, he further said while talking about India’s refining capacity.
Referring to India’s increasing role in providing increasing opportunities, he added, “India also offers excellent opportunities to meet the world’s demand. Today, we are one of the top 5 exporters of petroleum products in the world. Our export coverage extends to more than 150 countries around the world. India’s capabilities will be very useful to you. Therefore, this Energy Week platform is the right place to explore our partnership”.
