India, EU discuss FTA implementation ahead of December signing
In an effort to advance their free trade agreement, India and the European Union held pivotal discussions led by Commerce Secretary Rajesh Agarwal, who visited Brussels for dialogues with prominent EU officials. Central to the talks were customs cooperation and trade facilitation, deemed critical for the agreement's efficacy. Additionally, industry stakeholders from the diamond sector were…
Brussels hosted high-level meetings between India and the European Union to discuss the implementation of their Free Trade Agreement (FTA) and enhance customs cooperation. Commerce Secretary Rajesh Agrawal engaged with senior EU officials, including Ditte Juul Jorgensen, Koen Doens, and Gerassimos Thomas, to ensure a smooth transition to the FTA's provisions.
The talks focused on streamlining market access, simplifying customs procedures, and bolstering supply chain resilience. Both sides expressed their commitment to a fair and mutually beneficial agreement, pledging to address remaining procedural and implementation concerns through close cooperation.
Following their official conclusion at the India-EU Summit in January 2026, the FTA is currently undergoing legal verification before a planned signing in mid-December 2026. Full ratification and entry into force are expected by mid-2027. If implemented, the agreement will eliminate tariffs on over 99% of Indian exports to the EU, benefiting sectors like textiles, leather, and jewellery.
India will also reduce duties on over 96% of European goods, including a phased reduction in automobile tariffs to 10% under a 250,000 unit annual quota.
Beyond trade talks, Agrawal met with representatives of the Antwerp diamond ecosystem, exploring opportunities in the global diamond value chain, certification, traceability, and responsible sourcing. The commerce secretary also participated in a BusinessEurope roundtable, discussing ways to strengthen trade, investment, and supply chain resilience between India and the EU.
India and the EU's bilateral merchandise trade in 2024-25 stood at approximately USD 136.54 billion, with Indian exports to the EU amounting to USD 75.85 billion. Services trade between the two nations reached USD 83.10 billion, underscoring the growing importance of services in their economic partnership. Overall bilateral trade has nearly reached USD 140 billion, more than doubling over the past decade, highlighting the partnership's expanding economic significance.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- India, EU discuss FTA implementation, customs cooperation and market access in Brussels economictimes.indiatimes.com
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