India Energy Week 2026: PM Modi Announces Signing Of India-EU Free Trade Agreement; Highlights Global Energy Opportunities

New Delhi: Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), describing it as a landmark pact that accounts for 25 per cent of global GDP and nearly one-third of global trade.

Virtually addressing the fourth edition of the India Energy Week (IEW) 2026, the Prime Minister congratulated all stakeholders on the EU-India trade deal and termed it a major development. "A significant agreement was signed between India and Europe on Monday," he said, adding that the pact is being discussed as the 'mother of all deals' and will create vast opportunities for 140 crore Indians and millions of Europeans.

Calling it an excellent example of coordination between two major economies, Modi said the agreement will strengthen global trade and supply chains. He noted that the India-EU FTA will complement India's trade agreements with the United Kingdom and the European Free Trade Association (EFTA).

He said that the agreement will provide a major boost to m,anufaturing while also expanding the services sector. He congratulated the youth and those associated with sectors such as textiles, gems, and jewellery, leather, and footwear, saying the deal would be particularly beneficial for them.

During his address, PM Modi also said that India's energy sector presents immense opportunities, backed by the country's position as the world's fastest-growing major economy and a continuously rising demand for energy products. He added that India is also well-placed to meet global energy demand.

The Prime Minister said the nation is targeting USD 100 billion investments in the oil and gas sector by 2030, and the oil refining capacity will be expanded from 260 million tonnes per annum to 300 MTPA. He said that India is riding the reforms express and undertaking reforms across sectors.

India Energy Week 2026 serves as a premier global platform uniting policymakers, industry leaders and innovators to advance energy security, sustainability and inclusive growth.

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