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India-EU FTA
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 ...
The India-EU deal is expected to reshape competitive dynamics and market access on both sides while providing better access to European markets for Indian auto and component exports, aiding the sector's long-term growth prospects, according to a report by Icra. It is expected to give a boost to premium vehicle imports, but have limited disruption to the mass market, it added. The sharp reduction in duties on EU-made vehicles (completely built units) is expected to drop from as high as 110 per cent to 10 per cent over time for a fixed quota/annum, above an import price of Euro 15,000/vehicle, the report said, adding that this will open India's car market to European original equipment manufacturers (OEMs). "Lower tariffs are expected to improve access for European brands like BMW, Mercedes, Audi, and Porsche, enabling competitive pricing and new growth opportunities in India's fast-expanding auto market," the report pointed out. It, however, said there will be a limited impact on th
The Congress on Tuesday demanded that the Modi government should take Parliament into confidence on the details of both the EU and US trade deals, while alleging that Prime Minister Narendra Modi has "completely surrendered" to appease US President Donald Trump at the cost of India's farmers. Congress general secretary in-charge communications Jairam Ramesh hit out at the government over the announcement of the India-US trade deal, saying "India stands diminished by this unfortunate sequence of events." He said that from the information President Trump has provided, it is abundantly clear that Prime Minister Modi has "completely surrendered". Ramesh said that almost exactly a year ago, Prime Minister Modi landed at the White House to greet President Trump on his re-election. "His trademark huglomacy was on full display. India-US relations never appeared brighter. Negotiations for a trade deal started immediately thereafter.But ever since President Trump made the first announcement
The Congress on Tuesday demanded that the Modi government should take Parliament into confidence and the text of both the EU and US trade deals must be laid on the table of both Houses and debated. Congress general secretary in-charge communications Jairam Ramesh said that from the information President Donald Trump has provided, it is abundantly clear that Prime Minister Narendra Modi has "completely surrendered". He said that almost exactly a year ago, Prime Minister Modi landed at the White House to greet President Trump on his re-election. "His trademark huglomacy was on full display. India-US relations never appeared brighter. Negotiations for a trade deal started immediately thereafter.But ever since President Trump made the first announcement of the halt to Operation Sindoor on the evening of May 10, 2025 things began to go downhill," Ramesh said on X. Subsequently, President Trump embraced Pakistan and Field Marshall Asim Munir enthusiastically, "exposing the hollowness of
The trade agreement with the European Union (EU) will help India diversify its trade relationships and provide greater market access to its exporters amid growing uncertainty due to high US tariffs, Moody's Ratings has said. The free trade agreement (FTA) between India and the EU was announced on January 27. It is likely to be signed and implemented this year only. "For India, the deal reflects its continued efforts to selectively diversify trade relationships while hedging against trade volatility arising from recent US tariff actions," Moody's said. It said that for the EU, the deal strengthens economic security by widening access to a fast-growing India while reducing vulnerability to disruptions in more concentrated trade relationships. "Although we expect limited near-term credit effects for India, the EU and individual member states, once ratified and implemented the FTA will be credit positive for both sides in raising trade volumes, enhancing the diversification of trade ..