1 week ago
India-EU FTA Expected to Transform Trade and Engagement
India and the European Union are preparing a Free Trade Agreement, or FTA.
An FTA makes it easier for countries to buy and sell goods and services with each other.
Lithuania’s ambassador says the agreement could greatly increase trade.
The agreement is described as ready to be signed.
The sides hope to sign it by the end of 2026.
Lithuania wants it to start working during its presidency of the EU Council from January to June 2027.
The deal is meant to open markets while protecting important industries.
India and Lithuania are also discussing cooperation in artificial intelligence and new technologies.
Lithuania’s ambassador says the India-EU Free Trade Agreement could significantly increase trade.
The agreement is reportedly ready for signing, with hopes it will be signed by the end of 2026.
Lithuania aims for the pact to become operational during its EU Council presidency in 2027.
The deal seeks to liberalize goods and services while protecting vital and vulnerable sectors.
India and Lithuania are expanding trade in electronic components, digital devices, artificial intelligence and new technologies.
- Who
- India, the European Union and Lithuanian Ambassador to India Diana Mickevičienė.
- What
- A proposed India-EU Free Trade Agreement is expected to boost trade and strengthen cooperation.
- Where
- Between India and the European Union, with related comments made in New Delhi.
- When
- The sides hope to sign the agreement by the end of 2026; Lithuania’s EU Council presidency runs from January to June 2027.
- Why
- The agreement is intended to expand access to goods and services, protect vulnerable sectors and create a stronger foundation for India-EU engagement.
Key facts
- Agreement
- India-EU Free Trade Agreement
- Expected signing
- By the end of 2026, according to the Lithuanian envoy
- Potential implementation
- During Lithuania’s EU Council presidency, from January to June 2027
- Trade objective
- Increase access to each side’s goods and services
- Safeguards
- Protect vital and potentially vulnerable sectors
- India-Lithuania trade
- Includes components, electronic products and digital devices
- Additional cooperation
- Artificial intelligence and new technologies
Quotes
Diana Mickevičienė
Lithuanian Ambassador to India
“It is a big victory for both India and the EU because they have found the right balance between enhancing and liberalising access to each other's goods and services while also protecting sectors that are vital and potentially vulnerable on both sides”
freepressjournal.in
thehansindia.com
“It is very likely and we will work very hard to make it happen that the FTA will become valid and operational during our presidency”
freepressjournal.in
Sources
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