India and EU Finalise Comprehensive Free Trade Agreement After Two Decades of Talks
New Delhi, India : India and the European Union have concluded negotiations on a free trade agreement after nearly two decades of intermittent talks. The pact aims to liberalise trade across most goods and services, covering close to ninety seven percent of traded value, while excluding sensitive agricultural and dairy sectors on both sides. European tariffs on a majority of Indian exports are set to fall to zero, while India will gradually lower duties on products such as automobiles, wines, machinery, chemicals and pharmaceuticals, largely through phased reductions and quota systems. Leaders described the agreement as economically significant and strategically important amid global trade uncertainty. Alongside the trade deal, the two sides announced frameworks on security cooperation, labour mobility and research collaboration. The agreement now awaits review and ratification by EU institutions and the Indian government before entering into force.
