The Indian Stainless Steel Development Association (ISSDA) described the newly concluded India-EU Free Trade Agreement as a major milestone for global trade. The deal grants Indian sectors duty-free access to the 27-nation European bloc, and it also allows EU exporters to enter India with lower duties.

ISSDA President Rajamani Krishnamurti said that the industry needs adequate safeguards to protect domestic stainless steel producers as global competition intensifies. He mentioned that the group will study the specific provisions of the agreement and work with policymakers to ensure the interests of local manufacturers are secure.

Although the deal offers long-term manufacturing opportunities, the association believes protection is necessary as the market opens up. Both parties expect to sign and implement the agreement later this year.