US EditionIndia, EU finalize landmark trade deal representing 25% of global GDP
- Tuesday's 16th India‑EU Summit in New Delhi saw negotiators declare India‑EU Free Trade Agreement concluded, creating a market of two billion people and representing about 25% of global GDP.
- Following recent pacts with Mercosur and others, EU and India moved to open markets and diversify amid US tariffs and Chinese controls after relaunching negotiations in 2022.
- The pact includes tariff cuts on nearly all European exports, with Indian car tariffs reduced from up to 110% to 40%, while sensitive sectors like agriculture remain protected.
- Legal teams are now vetting the text, with formal signing expected after five to six months, and ratification required by the European Parliament and European Council, targeting 2027.
- For exporters and manufacturers, Indian labour-intensive sectors gain while European carmakers and exporters secure expanded market access and mobility, security and defence cooperation components deepen ties.
242 Articles
242 Articles
India and the EU have finalized a historic free trade agreement, which European Commission President Ursula von der Leyen described as the "mother of all agreements." The agreement comes after almost two decades of intermittent negotiations between India and the EU, which accelerated greatly in the last six months and were finally concluded late on Monday evening, foreign media write, reports Telegrafi. The agreement is expected to open up India…
After almost two decades of negotiations, the EU and India have agreed on a comprehensive trade agreement. The agreement is now also considered a strategic step in order to become broader in economic terms in the face of tense relations with the US.
‘Mother of all deals’: India, EU finalise landmark trade deal, PM Modi says
India and the European Union have finalised a long-pending landmark trade deal, both sides said on Tuesday, as they seek to hedge against fickle ties with the United States. The deal is expected to double EU exports to India by 2032 by eliminating or reducing tariffs in 96.6 per cent of traded goods by value, and will lead to savings of 4 billion euros ($4.75 billion) in duties for European companies, the EU said. The EU will cut tariffs on 99.5…
Schweizer Radio und Fernsehen (SRF)
The EU and India have concluded negotiations on the construction of a huge new free trade area.
India, European Union finalise trade deal
India and the European Union on Tuesday announced that they have finalised a free trade agreement representing 25% of global gross domestic product.The deal will cut or eliminate tariffs on nearly 97% of European exports to India, AFP quoted the European Union as saying.It was unclear when the agreement will take effect. The deal needs to be vetted legally, approved by the 27 member nations of the European Union and ratified by the European Parl…
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