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World News | India-EU FTA Will Be Major Catalyst for Bilateral Trade and Investment, Says German Envoy Philipp Ackermann
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New Delhi [India], July 29 (ANI): German Ambassador to India Philipp Ackermann on Tuesday hailed the upcoming India-European Union Free Trade Agreement (FTA) as a major milestone, stating that the pact will heavily transform economic relations and boost commercial activities between the two regions.
"It will be a game changer in many ways," Ackermann said on the expected impact of the trade deal, noting that it will "lead to more German investment in India and maybe also to more Indian investment in Germany."
The Ambassador emphasised that slashing tariffs and removing trade barriers between Europe and India will directly stimulate economic engagement.
Expressing strong optimism regarding the timeline, Ackermann noted that the implementation of the free trade agreement during the first half of next year will generate a progressive transformation over the coming years.
He further pointed out that the deepening economic synergy will naturally translate into greater people-to-movement, remarking that it will "also increase the number of visitors going on both sides of the free trade agreement India to Germany, Germany to India."