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India-EU FTA
India and the European Union will sign the ambitious free trade agreement by the end of this year, top EU leader Ursula von der Leyen said on Wednesday after holding talks with Prime Minister Narendra Modi. In the meeting, held on the sidelines of the G7 summit in this French commune, the two sides also resolved to step up security and defence cooperation. Besides Von der Leyen, the President of the EU Commission, the meeting was joined by European Council President Antonio Costa. "Since we have concluded the mother of all trade deals, we have been moving fast to deliver on our commitments. We will sign the Free Trade Agreement by the end of the year. And accelerate work on an investment agreement," Von der Leyen said on social media. "We will also step up security & defence cooperation. And join forces for better connectivity by advancing IMEC, the IndiaMiddle EastEurope Corridor," she said. India and the EU announced concluding negotiations for the mega trade deal at their ...
India and Slovakia on Monday elevated their ties to the level of a comprehensive partnership and vowed to boost bilateral trade and defence cooperation following talks between Prime Minister Narendra Modi and his Slovak counterpart Robert Fico. The two leaders also agreed to work towards the "earliest" implementation of the India-European Union free trade agreement that is expected to significantly shore up the bilateral economic engagement. Modi is in Bratislava as part of his week-long visit to Europe. It is the first visit to Slovakia by an Indian prime minister. "We have decided to elevate our relations to the status of a Comprehensive Partnership. This symbolises our shared beliefs, shared priorities, and shared future," he said in his media statement. Modi also conveyed his appreciation to Fico for the cooperation Slovakia extended in finalising the India-EU free trade agreement. "We will work towards its earliest implementation so that industries, startups, and traders of b
Estonia can be the gateway to northern European markets for India once the FTA with the European Union comes into effect, Indian Ambassador Ashish Sinha has said, asserting that the bilateral relationship is on an upswing. In an interview with PTI, Sinha said there is a robust base of existing trade to be used as a "springboard" for further engagement between India and Estonia when the India-EU free trade agreement comes into force. The Indian Ambassador to Estonia asserted that the overall bilateral relationship is going from strength to strength and getting stronger. "Going forward, with the India-EU FTA, there will be far more engagement of the small and medium-sized industries, and the dairy and agriculture products from Estonia will find their market in India. For India, we will have Estonia as a gateway to northern Europe," Sinha told PTI. Noting that Estonia also offers e-residency, Sinha said many of the Indian businessmen and high-value industrialists have taken Estonia's
Italian supersports carmaker Automobili Lamborghini will not get any benefit from the India-EU free trade pact as plug-in hybrids are not included but there is hope that it could be covered under the deal in future, according to its Chairman and CEO Stephan Winkelmann. Automobili Lamborghini, which sells super luxury models -- Urus SE, Temerario and Revuelto -- in India with prices ranging from Rs 4.47 crore to Rs 8.70 crore (ex showroom), expects a stable growth in Indian market having crossed the 100 units a year milestone, Winkelmann said in an interaction. "There is bad and good news. So the fact that there is this signing between India and the EU to reduce the tariffs is a good sign. But unfortunately this is not affecting our type of cars because it is for internal combustion engine cars and not for plug-in hybrids. We have all plug-in hybrids," he said. Winkelmann was responding to a query on the company's prospects in India following the signing of India-EU FTA. "So we are
European Commission President Ursula von der Leyen on Monday said the EU and India are now focused on efficiently implementing their recently concluded free trade deal and security partnership. Her remarks came after a meeting with External Affairs Minister S Jaishankar, who is on a two-day visit to Brussels for talks with his counterparts from the 27-member European Union (EU). "At the EU-India Summit in January, we concluded our Free Trade Agreement the mother of all deals and signed a Security and Defence Partnership," von der Leyen said in a social media post after her "good meeting" with Jaishankar. "Now we are focused on efficient implementation, to deliver for the people of Europe and India as soon as possible," she said. The two leaders also discussed developments in West Asia and Ukraine. "De-escalation, stability and energy security are our shared objectives," the EU leader said. India and the EU sealed the Free Trade Agreement (FTA) -- billed as the "mother of all de
The landmark EU-India Free Trade Agreement (FTA) is a transformative win-win pact that offers immense opportunities in trade, artificial intelligence (AI) and resilient supply chains, Austria's State Secretary in the Federal Chancellery Alexander Proll has said. In an interview with PTI Videos, Proll has described the EU-India FTA as the "mother of all deals" that stands to benefit nearly 200 crore people and create one of the world's largest free trade zones. "Prime Minister (Narendra) Modi visited Austria in 2024 because of 75 years of the diplomatic relationship and now, we have the free-trade agreement. It is the mother of all deals. I think it is a win-win situation for the whole European Union and India," Proll said. The FTA, finalised after years of negotiations re-launched in 2022, eliminates or reduces tariffs on 96.6 per cent of EU exports to India by value and 99.5 per cent of Indian exports to the EU by trade value. Proll highlighted AI as a key future area of ...