It opens unprecedented opportunities across key sectors, especially for micro, small and medium enterprises (MSMEs) and labour-intensive industries, FIEO president S C Ralhan said in a statement.
It not only reduces tariffs but also eases regulatory barriers for services and investments, he noted.
“Our exporters will now compete more effectively in a high-value market, and our service professionals will benefit from smoother mobility and reduced compliance hurdles,” he added.
Calling the development “a key milestone in India’s evolving trade architecture”, FICCI president Harsha Vardhan Agarwal said it complements the objectives of ‘Atmanirbhar Bharat’ by empowering domestic industries to scale globally, engage competitively and leverage value chains more effectively.
Harish Ahuja, chairman of FICCI’s foreign trade and trade facilitation committee and managing director of Shahi Exports Pvt Ltd, said the FTA is poised to boost India’s export competitiveness, particularly in labour-intensive sectors like textiles and apparel.
ALCHEMPro News Desk (DS)
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