US EditionIndia, EU finalize landmark trade deal representing 25% of global GDP
- India and the European Union finalized a 'landmark' free trade agreement, representing about 25% of global GDP and a third of global trade.
- The deal, dubbed the 'mother of all deals' by Indian Prime Minister Narendra Modi, will forge a market of 2 billion people at a time of rising geopolitical tensions.
- Under the pact, automotive tariffs will fall from 110% to 10%, and tariffs on machinery, chemicals, and pharmaceuticals will be phased out, affecting multiple sectors.
- The European Union expects exports to roughly double by 2032, and analysts say the deal could add 2 million to 3 million jobs while boosting Indian manufacturing and services.
232 Articles
232 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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