8 hrs ago

India-EU Trade Deal Moves Toward Final Approval and Signing

India and the European Union have finished negotiating a large trade agreement.

The European Commission has now sent the agreement to the European Council for review.

If approved, the deal would make it cheaper and easier for many businesses to trade.

Tariffs on 96% of goods from the EU to India would be removed or reduced.

European exporters could save about €4 billion each year.

India and the EU already trade more than €180 billion in goods and services annually.

The agreement would cover a market of about 2 billion people.

It is not active yet because the European Council and European Parliament must still approve it.

Key facts

Agreement status: The European Commission submitted the proposals to the European Council for authorisation.
Tariff coverage: Tariffs on 96% of EU goods exported to India would be eliminated or reduced.
Estimated savings: European exporters could save approximately €4 billion annually in customs duties.
Existing trade: India and the EU exchange more than €180 billion in goods and services each year.
Employment impact: Bilateral commerce supports nearly 800,000 jobs in the European Union.
Combined market: India and the EU represent a market of around 2 billion people and roughly one-quarter of global GDP.
Remaining approval: The agreement requires European Council authorisation and European Parliament approval before entering into force.

freepressjournal.in · 8 hrs ago