Move to block non-Europe firms from using lower duty to dump cars in India
Proposed EU trade pact could shift sourcing from Southeast Asia to Indian export clusters
Vietnam has signed 17 trade pacts as it seeks double-digit expansion of its trade-reliant economy
In fiscal 2024-25 (FY25), India, according to HSBC, exported $76 billion worth of goods to the EU and bought $61 billion worth of goods from the EU
India-EU FTA to lower tariffs on pharma, potentially making GLP-1 therapies like semaglutide cheaper and boosting adoption among diabetics in India
In her address to a joint sitting of Parliament, President Droupadi Murmu highlighted the India-EU free trade agreement, defence exports, welfare delivery and manufacturing growth
India will allow EU banks to open up to 15 branches over four years under the trade pact, while Indian banks will face no such cap in the EU
The EU office will act as a single access point for Indians exploring authorised study and work routes across EU member states
The India-EU free trade pact will be credit positive for India as lower tariffs and better market access will help attract foreign investment, boost manufacturing and boost export competitiveness of the labour intensive sector, Moody's Ratings has said. India and the European Union on Wednesday had announced the conclusion of negotiations for the Free Trade Agreement (FTA), described as 'mother of all deals', under which 93 per cent of Indian shipments will enjoy duty-free access to the 27-nation bloc, while import of luxury cars and wines from the EU will become less expensive. The deal, concluded after negotiations spanning about two decades, will create a market of about 2 billion people across the world's fourth-largest economy, India, and the second-largest economic bloc, the EU. In a commentary, Moody's Ratings said India's conclusion of its trade negotiations with the EU reflects its continued efforts to selectively diversify trade relationships. "When in effect, the FTA wil
President Droupadi Murmu on Wednesday hailed the signing of a free trade agreement with the European Union, saying it will give impetus to the manufacturing and service sectors and create new employment opportunities for the youth of the country. Murmu also said that over the past 11 years, the economic foundation of the country has grown significantly stronger and despite various global crises, India has remained the fastest growing major economy in the world. "I congratulate all citizens on the conclusion of negotiations for a free trade agreement with the European Union. It will give impetus to the manufacturing and service sectors in India and also create new employment opportunities for the youth of India," she said while addressing the joint sitting of Parliament, marking the beginning of the Budget session. The President said India has further improved its record in keeping inflation under control and it is directly benefiting the poor and middle class. "As a result of the
Europe's growing focus on defence preparedness has already benefited Indian defence firms, particularly manufacturers of munition
13 agreements signed at the India-EU summit underline a joint push to reduce strategic dependencies, deepen trade and defence cooperation, and strengthen supply chains amid a fragmenting global order
Social Security Agreement ensures continuity of social security benefits on a reciprocal basis and thus avoids potential dual contributions for Indian workers and employers in the future
Supports IT services industry and students
But $50 billion export aim holds as EU smartphone shipments drop after Apple's US pivot
While detailed provisions of the agreement are awaited, the initially released agreement indicates that import tariffs will be reduced to 75% from current 150% across all EU spirits, wines categories
India-EU FTA opens a large European market for Indian-made small cars, with duty cuts boosting exports and giving carmakers like Maruti Suzuki a cost advantage
India-EU FTA's focus on mobility could expand choices for Indian students, making Europe a more deliberate study destination even as the US remains key amid uncertainty over visa policies
US President Donald Trump has withdrawn planned tariffs on several European allies after reaching what he calls a “framework of a future deal” with Nato on Greenland and Arctic security.
Speaking after the conclusion of the India-EU free trade agreement, Goyal said the pact was a win-win for all sections of industry in India as well as Europe