EU moves India trade deal closer to finish line
The European Commission has sought the Council's approval to sign and conclude the landmark FTA, which would cut tariffs on 96% of EU goods exports to India
The European Commission has submitted proposals to the Council of the European Union, moving the EU-India free trade agreement closer to realization. Dubbed the "mother of all deals", this landmark pact would be the largest trade agreement ever concluded by the EU and India. By eliminating or reducing tariffs on approximately 96% of EU goods exports to India, the agreement is projected to save European exporters an estimated €4 billion annually.
The deal aims to enhance market access, eliminate barriers to trade, and establish clearer rules for trade and investment between the two nations. It is expected to improve competition for European companies in the Indian market, provide consumers with greater choices, and potentially lower prices. Currently, the EU and India trade over €180 billion of goods and services annually, supporting nearly 800,000 jobs in the EU.
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