5 hrs ago
India-EU FTA moves closer to signing and operation
India and the European Union are getting closer to approving a large trade agreement.
The European Commission has proposed the next official decisions needed to move the agreement forward.
The European Council must approve the signing before the agreement can be signed.
The European Parliament must then review it before it becomes operational.
The agreement would reduce trade barriers on most goods exchanged between India and the European Union.
India would receive access for more than 99% of its exports by trade value.
The pact also covers services and the movement of skilled Indian professionals.
Officials say it could be signed this year and start operating in early 2027.
The European Commission proposed decisions authorizing the signing and conclusion of the India-European Union free trade agreement.
The proposal advances the pact beyond political finalization at the 16th EU-India Summit on January 27.
The European Council must approve the signing decision before the agreement can be formally signed, followed by European Parliament review.
India secured market access for more than 99% of its exports to the European Union by trade value, while offering 92.1% of tariff lines covering 97.5% of EU exports.
Officials expect the agreement could be signed by the end of this year and become operational in the January-March quarter of 2027.
- Who
- India, the European Union, the European Commission, the European Council, and the European Parliament.
- What
- The formal approval process for an India-European Union free trade agreement has advanced.
- Where
- The agreement concerns trade between India and the European Union; no specific signing location is stated.
- When
- The proposal was issued on Friday; officials project signing by the end of this year and operation in the January-March quarter of 2027.
- Why
- The proposal begins the European Union approval steps required before the pact can be signed and enter into force.
Key facts
- Agreement
- India-European Union free trade agreement
- Political finalization
- Reached at the 16th EU-India Summit on January 27
- India's market access
- More than 99% of Indian exports to the European Union by trade value
- India's tariff offer
- 92.1% of tariff lines, covering 97.5% of European Union exports
- 2025 goods trade
- €118 billion
- 2025 services trade
- €67 billion
- Projected timeline
- Signing by the end of this year; operation in January-March 2027
Sources
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