The EU and India have finalized a landmark free trade agreement (FTA), the largest ever negotiated by both parties. The deal, signed today, aims to strengthen economic ties between the world’s second and fourth largest economies amid global challenges. It eliminates or reduces tariffs on 96.6% of EU exports to India, potentially doubling goods trade by 2032. Key sectors like agriculture, automotive, and pharmaceuticals will benefit from significant tariff cuts, while maintaining strict EU food safety standards. The agreement also includes provisions for services, intellectual property protection, and sustainability commitments. Next steps involve legal review, EU Council approval, and India’s ratification for the deal to take effect. The FTA is expected to create new opportunities for European businesses, with dedicated support for SMEs and reduced regulatory barriers.
https://ec.europa.eu/commission/presscorner/detail/en/ip_26_184
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