When will the new India-EU free trade agreement take effect?

The agreement is scheduled to take effect in early 2027.

What types of goods will see reduced import duties under the India-EU FTA?

Import duties will be reduced on goods such as machinery, pharmaceuticals, and premium cars.

What is the main goal of the new India-EU trade deal?

The deal aims to enhance India's position in global value chains and strengthen economic relations between India and Europe.

Home / Business and Economy / India-EU Trade Deal: Tariffs Cut on Key Goods

India-EU Trade Deal: Tariffs Cut on Key Goods

28 Jan

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Summary

New free trade agreement signed between India and European Union.
Reduced import duties on machinery, pharmaceuticals, and premium cars.
Agreement to take effect in early 2027, enhancing global value chains.

India-EU Trade Deal: Tariffs Cut on Key Goods

India and the European Union have solidified their economic partnership with the signing of a new free trade agreement. This landmark deal is set to reduce import duties on a range of products, including essential machinery, life-saving pharmaceuticals, and high-end automobiles.

The agreement is slated to commence in early 2027, marking a significant step towards enhanced economic cooperation. Its strategic aim is to bolster India's integration into global value chains and cultivate stronger, more resilient economic relations with European nations.

Analysis from Franklin Templeton indicates that several key sectors are expected to benefit significantly from this trade liberalization. The pact underscores a mutual commitment to fostering growth and expanding market access for both Indian and European businesses.