Chhatrapati Sambhajinagar: The Free Trade Agreement (FTA) between the European union (EU) and the Indian government is expected to open new avenues for the city’s industrial sector, industry experts say.
Currently, automobile components, pharma products, and optical fibers from the city are exported to 27 European countries, and now local small and medium enterprises (SMEs) will also have the opportunity to export their high-quality products. In the past two years, the Auric City industrial zone in DMIC has seen investment decisions worth nearly Rs 1 lakh crore. Companies like Toyota Kirloskar, JSW, and Ather Energy have helped shape the city’s identity as an EV hub. Industrial areas such as Waluj, Chikalthana, Shendra, and Paithan contribute nearly Rs 25,000 crore in annual exports. However, trade with Europe currently accounts for only 10%. The FTA is expected to increase this share.
------------------
Trust to drive trade growth
Exports of auto components, optical fibre, and pharmaceutical products to several EU nations were already underway. The India–EU Free Trade Agreement will strengthen mutual trust, leading to higher imports and exports. It will also boost the ‘Make in India’ initiative, generate employment, and accelerate industrial growth.
- Dr. Mukund Kulkarni, entrepreneur and former member, Marathwada Statutory Development Board.
---------
FTA to open global markets
This historic Free Trade Agreement with all 27 EU countries will be implemented from the new financial year, benefiting Indian farmers, small industries, manufacturing, and the services sector. It will help partially offset the US trade deficit and enable local SMEs to expand exports.
- Arjun Gaikwad, president, Massia.
---------
FTA to Expand Exports, Jobs
“The EU–India Free Trade Agreement will attract higher European investment, strengthen the Make in India initiative, and generate employment. It will open new export avenues for MSMEs, integrate them into global supply chains, and ultimately accelerate export growth and industrial development.”
- Utsav Machhar, president, CMIA