US Trade Representative Jamieson Greer said India emerged as the clear winner in the recently signed trade deal with the European Union, describing it as a major opportunity for the country. Speaking to Fox Business, Greer noted that India gains greater market access in Europe and possibly enhanced mobility for Indian workers, which could give the country a significant advantage.

Greer highlighted that while the EU continues to embrace globalization, the US is focusing on addressing domestic issues, leading other countries to seek alternative markets for their goods. He explained that the EU, heavily dependent on trade, sees India as a key outlet as it cannot rely solely on exporting to the US. On the topic of Russian oil, Greer mentioned that India still pays tariffs and is gradually reducing its purchases, encouraged by recent US Treasury sanctions. He emphasized that the US is closely monitoring the situation.

The India-EU agreement, covering a market of two billion people, includes a transformative five-year agenda to strengthen trade and defense cooperation while supporting a rules-based global order. In addition to the free trade agreement, both sides signed pacts on security and defense collaboration and mobility of Indian talent to Europe.

The FTA is set to eliminate tariffs on 99% of Indian exports to the EU and cut duties on over 97% of EU exports to India. Indian industries such as textiles, apparel, leather, handicrafts, footwear, and marine products are expected to benefit, while Europe stands to gain in sectors including wine, automobiles, chemicals, and pharmaceuticals.