Prime Minister Narendra Modi has described the newly signed free trade agreement between India and the European Union as a landmark achievement.

Speaking on Tuesday, he emphasised that the pact opens up vast opportunities for millions of people across both regions. The agreement, finalised just a day earlier, underscores the strengthening economic ties between India and the 27-nation bloc.

PM Modi made these remarks while inaugurating the latest edition of India Energy Week through video conferencing. The prestigious event kicked off in Goa, drawing global attention to India's rising prominence in the energy sector. His comments on the trade deal set an optimistic tone for discussions on international cooperation.

The Prime Minister highlighted the deal's potential to benefit crores of Indians and Europeans alike. He portrayed it as a symbol of effective coordination between two of the world's major economies. This partnership is expected to boost trade in goods, services, and investments, fostering mutual growth.

During his address to delegates and industry leaders, PM Modi expressed strong confidence in India's future within the refining and downstream sectors. He boldly predicted that India would soon claim the top spot globally in refining capacity. This ambition reflects the government's aggressive push to expand infrastructure and adopt cutting-edge technologies.

India's role in global fuel supply chains is set to expand significantly under these initiatives. The Prime Minister noted ongoing efforts to upgrade refineries and enhance production efficiency. Such developments position India as a reliable player in meeting worldwide energy demands.

Welcoming participants from nearly 150 countries, PM Modi congratulated them on converging in Goa. He described the forum as a vital space for debating energy security and sustainable futures. The event's international appeal has grown rapidly since its inception.

India Energy Week has evolved swiftly into a leading global platform for energy dialogue and action. PM Modi positioned India as a land of immense opportunities for the energy industry. With participants from diverse nations, it facilitates meaningful exchanges on pressing challenges.

As the world's fastest-growing major economy, India's energy demand is surging steadily. This trajectory not only fuels domestic growth but also creates avenues to address global energy needs. PM Modi stressed that India offers unparalleled prospects for investors and partners.

The country has solidified its status among the top exporters of petroleum products. Shipments now reach more than 150 nations worldwide, showcasing India's robust capabilities. This export prowess makes India an indispensable partner in the global energy landscape.

PM Modi urged deeper engagement from international companies and governments. He presented India Energy Week as the perfect venue for forging future alliances. Collaborative ventures in refining, clean energy, and sustainability are likely to dominate proceedings.

The summit is poised to delve into critical topics such as energy security and refining expansions. Discussions will also cover clean-energy transitions and strategies for balancing growth with environmental goals. Policymakers and executives from around the world will drive these conversations in Goa.

India's macroeconomic strength and strategic investments underpin its energy ambitions. The trade agreement with the EU further amplifies these prospects, potentially unlocking new markets for Indian exports. Observers anticipate ripple effects across sectors like manufacturing and technology.

Based On ANI Report