Finland President calls the EU-India FTA historic, says it will boost economic and political ties

Finnish President Alexander Stubb welcomed the EU-India Free Trade Agreement (FTA), calling it a historic milestone and a major step toward strengthening economic and political ties between Europe and India.
“The EU-India Free Trade Agreement is historic. It is the largest trade deal ever concluded by either side. This will further intensify our economic and political ties with India,” Stubb wrote in a post on X.
Highlighting the wider global context, he added, “In these times, it is important for both the EU and Finland to strengthen partnerships all over the globe.”
The remarks came following the announcement by India and the European Union on Tuesday that negotiations for the long-pending FTA had concluded. Under the deal, the EU will remove tariffs on 99.5 per cent of Indian exports, with most duties dropping to zero immediately once the pact comes into force. India has agreed to provide tariff concessions covering 97.5 per cent of the traded value between the two economies.
The joint announcement was signed by Commerce Minister Piyush Goyal and European Commissioner for Trade and Economic Security Maros Sefcovic, in the presence of Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa.
Von der Leyen described it as “the mother of all deals,” saying, “We are creating a market of 2 billion people. This is a tale of two giants — the world’s second- and fourth-largest economies. Two giants who choose partnership in a true win-win fashion. A strong message that cooperation is the best answer to global challenges.”
The agreement ends a negotiation process that began in 2007. With bilateral trade already exceeding USD 136 billion, the pact was described as “one of the biggest” bilateral deals globally. -TIN Bureau