New Delhi, Jan. 28 -- The India-EU Free Trade Agreement is set to strengthen economic integration between two of the world's major economies, marking a significant shift in global trade dynamics.

Union Minister for Electronics and Information Technology, Ashwini Vaishnaw, on Tuesday stated on X that the deal accounts for one-third of global trade and supports 25 per cent of global GDP. The agreement brings together two of the world's top economies, aiming to streamline market access and technological cooperation.

As part of the pact, the European Union will abolish tariffs on 9425 lines of Indian exports, unlocking preferential access valued at USD 75 billion. This move is expected to accelerate India's ambition to reach USD 300 billion...