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.
263 Articles
263 Articles
After the Mercosur Agreement, the Eu Also Signed an Agreement with the World's Most Populous Country
The EU and India have agreed on a free trade agreement.
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.
A joint statement by India and the EU calls the agreement historic, which the European Commission says would double EU exports to the world's fastest-growing major economy by 2032.
Brussels and New Delhi close a historic free trade agreement: reduction of tariffs on almost 97% of European exports, focus on manufacturing and automotive and aim to double trade by 2032, strategically and geopolitically
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