New Delhi, Jan. 29 -- The free trade agreement (FTA) with the 27-member European Union (EU) would expand market access for India's labour-intensive sectors and deepen integration with Europe's technological and manufacturing capabilities, as per Economic Survey tabled in Parliament on Thursday.

"The FTA with Europe can support the continent's efforts to revitalise parts of its manufacturing base and, at the same time, strengthen India's manufacturing competitiveness, export resilience and strategic capacity," said the key document authored by Chief Economic advisor (CEA) V. Anantha Nageswaran.

In order to continue growth momentum in merchandise exports, India is actively pursuing a diversified trade strategy. This includes the recently ...