US EditionIndia and European Union have closed a ‘landmark’ free trade deal, Prime Minister Modi says
- On Tuesday, Prime Minister Narendra Modi announced India and the European Union reached a free trade agreement at the India-EU Summit, New Delhi, finalised after nearly two decades of talks with Ursula von der Leyen and Antonio Costa present.
- Negotiations that began in 2007 and were relaunched in 2022 accelerated after shifts in geopolitics and protectionist actions, with officials crediting focused talks for closing the deal.
- The agreement creates a market covering two billion people and includes €120 billion in bilateral goods trade in 2024, with €60 billion in services, according to the European Commission.
- Modi said the pact will boost manufacturing and services, while Commerce Secretary Rajesh Agrawal noted formal signing follows a legal vetting period of five to six months with implementation likely next year.
- European leaders highlighted market access gains as Bessent said, `We have put 25% tariffs on India for buying Russian oil.
70 Articles
70 Articles
After the problems with Mercosur, the EU manages to take the first steps to conclude a trade agreement that will create a free trade economic zone of almost 2 billion people
India and the European Union have concluded talks on an important trade deal that will cover a quarter of the world economy.
India and EU finalize ‘mother of all deals’ with landmark trade pact
India and the European Union have finalized a long pending landmark trade deal, Indian Prime Minister Narendra Modi said on Tuesday, as the two sides seek to hedge against fickle ties with the US.
Tagesschau
BildThe EU and India have concluded the negotiations on a free trade agreement, which was communicated by the President of the European Commission from Leyen and India's Prime Minister Modi. It is about a common market of almost two billion people. The agreement was preceded by almost 20 years of negotiations with interruptions.
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