G7 Summit: PM Modi's multi-alignment approach delivers tangible economic outcomes

Prime Minister Narendra Modi's bilateral meetings at the G7 Summit highlighted how India's multi-alignment approach is bearing fruit across major global economies.

After PM Modi's meeting with his UK counterpart Keir Starmer, it has been decided that India-UK Comprehensive Economic and Trade Agreement (CETA) will enter into force from July 15, 2026, which will significantly boost bilateral trade and investment between the two countries.

The operationalisation of the CETA will mark a structural transformation in India's global trade architecture.

At the same time, India has protected sensitive sectors, including dairy products, cereals, millets, edible oils, oilseeds, apples and several vegetable products.

The India-Canada joint statement, issued after the meeting of PM Modi and Canadian Prime Minister Mark Carney, noted the "satisfaction of both leaders with the progress in negotiations towards a Comprehensive Economic Partnership Agreement (CEPA)" and reaffirmed their "shared objective of concluding the negotiations in 2026".

In the meeting with the EU leadership, the European Commission President Ursula von der Leyen and European Council President Antonio Costa said: "Since we have concluded the 'mother of all trade deals', we have been moving fast to deliver on our commitments. We will sign the Free Trade Agreement by the end of the year."

PM Modi posted on social media platform X that "It was wonderful meeting European Council President Antonio Costa and European Commission President Ursula von der Leyen in Evian earlier today".

"At the start of this year, India was proud to host them for our Republic Day celebrations. This has been a great time for India-EU ties as we have concluded the Free Trade Agreement. During our talks, we discussed how to further deepen economic linkages in the times to come. Our growing cooperation can play an important role in strengthening peace, stability, and prosperity in today's global environment," the Prime Minister noted.

Taken together, these developments demonstrate how PM Modi's multi-alignment approach is translating into concrete economic outcomes, with Canada, the United Kingdom and the European Union.

Picture Courtesy: X/ Narendra Modi