The European Union and India have concluded negotiations on a free‑trade agreement, the EU Commission announced on Tuesday. The pact-described as the largest of its kind-aims to strengthen economic and political ties between the two major economies.
Brussels expects EU exports to India to double by 2032, after tariffs on 96.6 % of EU goods destined for the country are removed or reduced. Trade between the EU and India already exceeds €180 billion per year, supporting almost 800,000 EU jobs. The agreement is projected to save about €4 billion annually in tariff costs on European products. Key sectors, notably European agriculture and food, are set to benefit the most, as India will grant tariff reductions not offered to any other trading partner.
A further objective of the deal is to promote sustainability. A dedicated chapter will address trade and sustainable development, with a focus on environmental and climate protection as well as workers’ rights. The EU and India also plan to sign a memorandum that will establish a platform for cooperation on climate action.