On India EU FTA, Dr Anish Shah, Group CEO and MD, Mahindra Group said: “The India-EU FTA is a significant milestone as it provides the next wave of economic impetus for India, building on the strong foundation laid by a number of policy reforms.
This FTA will provide meaningful benefits across multiple sectors, as it strikes a very good balance between opening the market while nurturing manufacturing in India.
We see a huge positive for the auto sector as it provides duty-free access to European markets and will attract European OEMs to invest further in India. This agreement is very well designed, as it lowers in-quota duties only at higher priced segments which will enhance scale in the core segments relevant to Make in India for the world. We feel this will not change any competitive dynamics in the industry.
This FTA is one of the most comprehensive Agreements covering themes such as AI, innovation, clean tech, mobility that will boost industry growth across sectors like IT Services, Aerostructures, Finance, Agriculture and Renewable Energy.
The Agreement ushers a generational opportunity for a values-led partnership between two natural allies in a volatile world.”