Bhubaneswar: Dr Prabodh Kumar Mohanty, President of the Utkal Chamber of Commerce and Industry Limited (UCCIL), has hailed the conclusion of the India–European Union Free Trade Agreement (FTA) as a landmark achievement that will propel Odisha into a new era of industrial and export excellence.
Prime Minister Shri Narendra Modi and European Commission President H.E Ms. Ursula von der Leyen, today jointly announced the conclusion of the India–European Union Free Trade Agreement (India–EU FTA) at the 16th India–EU Summit, held during the visit of the European leaders to India. This announcement marks a historic milestone in India–EU economic relations and trade engagement with key global partners.
The conclusion of this FTA positions India and the European Union as trusted partners committed to open markets, predictability, and inclusive growth.
Reacting to the joint announcement by Prime Minister Shri Narendra Modi and European Commission President H E Ms.Ursula von der Leyen, UCCIL Chief Dr Mohanty stated that the agreement provides Odisha with a direct gateway to one of the worlds most affluent markets. He emphasized that for a state that contributes significantly to India’s mineral and metallurgical output, the removal of trade barriers is a strategic victory. He noted that Odisha’s steel, aluminum, and engineering goods are now poised to become more competitive within European value chains.
Dr Mohanty also highlighted the massive implications for Odisha’s coastal economy and rural livelihoods. He pointed out that the zero-duty access for marine products, textiles, and agricultural goods like spices and processed foods will empower thousands of farmers, fishermen, and weavers across the state. The President further noted that the mobility commitments for professionals will provide Odisha’s youth and IT experts with predictable access to the EU, fostering innovation and knowledge exchange.
As Odisha marches toward the vision of a trillion-dollar economy, Dr Mohanty remarked that this FTA provides the necessary global platform for the states MSMEs and large-scale industries alike. He concluded by affirming that UCCIL will work closely with the state and central governments to ensure that Odisha’s businesses are fully prepared to leverage the technical standards and opportunities presented by this historic partnership.