Shashi Tharoor Hails India-EU FTA as 'Very Big' News, Cautions on Long-Term Gains

• Congress MP Shashi Tharoor welcomed the India-European Union Free Trade Agreement (FTA), calling it "very big" and "very good news."
• Tharoor noted that the benefits would be long-term, as the agreement requires ratification by all 27 EU member states, which could take about a year.
• The India-EU FTA was announced at the 16th India-EU Summit by PM Narendra Modi, Ursula von der Leyen, and Antonio Costa.
• The agreement signifies a major step in India-EU economic relations, re-launching negotiations after a long pause since 2022.
• The EU is one of India's largest trading partners, with bilateral trade in goods and services reaching significant figures in 2024-25.

Why It Matters: India-EU FTA is a significant long-term economic milestone, requiring ratification by all 27 EU member states.