With reference to the India-EU Free Trade Agreement and India's economic outlook, consider the following statements: 1. The India-EU Free Trade Agreement is expected to triple trade by early 2027. 2. The agreement is expected to particularly benefit the services and technology sectors. 3. India is predicted to become one of the world's four largest economies in the next 50 years. Which of the statements given above is/are correct?

Muñiz: Companies Missing India Will Miss 21st Century Growth

GS2Polity · Governance · IR· India's bilateral relations· Prelims· 29 September 2026

Economic integration and trade liberalization: a GS2 International Relations and GS3 Economy case study.

Why in news

Manuel Muñiz, former Secretary of State for Global Spain, stated that companies missing India will miss 21st-century growth and highlighted the India-EU Free Trade Agreement's role in boosting services and technology.

Background

Manuel Muñiz, former Secretary of State for Global Spain and Rector of IE University, predicted India will be one of the world's four largest economies in the next 50 years. The India-EU Free Trade Agreement is expected to double trade by early 2027.

Facts for Prelims

FactIndia-EU Free Trade Agreement target: double trade by early 2027
FactIndia's projected economic status: one of the world's four largest economies in 50 years
FactKey sectors to be boosted by India-EU FTA: services and technology

Prelims practice question

With reference to the India-EU Free Trade Agreement and India's economic outlook, consider the following statements:

The India-EU Free Trade Agreement is expected to triple trade by early 2027.
The agreement is expected to particularly benefit the services and technology sectors.
India is predicted to become one of the world's four largest economies in the next 50 years.

Which of the statements given above is/are correct?

(a)1 only
(b)3 only
(c)2 and 3 only
(d)1, 2 and 3

Show answer

Answer: (c) 2 and 3 only — Statements 2 and 3 are correct. Statement 1 is incorrect: The note states it is expected to double trade, not triple.

For Mains

Q. Discuss the significance of the India-EU Free Trade Agreement in positioning India as a global economic powerhouse in the 21st century.

Dimensions to cover in your answer

Trade diversification: Reducing import reliance on specific regions through EU market access
Service sector leadership: Leveraging India's comparative advantage in tech and services for EU integration
Geopolitical alignment: Strengthening India-EU ties as a counterweight to shifting global trade dynamics

Keywords: Trade Liberalization · Economic Integration · Comparative Advantage · Strategic Partnership · Market Access

Read the full news →Report a mistake in this note Source: The Hindu ↗Also: GS3 · External sector, trade & FDI Also: GS3 · Growth, inflation & macro indicators

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