EU-India Free Trade Deal: A Landmark Agreement that Could Double EU Exports to India by 2032
In a historic moment for trade diplomacy, the European Union and India have finalised a landmark free trade agreement, with European Commission President Ursula von der Leyen hailing it as the "mother of all deals". The deal is expected to open up India's vast market to EU goods, while also easing exports of textiles, gems, and pharmaceuticals.
The agreement is expected to double EU exports to India by 2032, with tariffs on over 96% of traded goods set to be eliminated or cut. This could lead to savings of €4bn (£3.5bn) in duties for European companies. The deal also paves the way for reduced tariffs on key products such as cars and wine, benefiting companies like Volkswagen, Renault, and BMW.
The agreement is seen as a significant boost to India's economy, which is one of the world's fastest-growing economies. With a population of over 1.4 billion people, India presents a vast and untapped market for EU goods. The deal could also help India become the fourth-largest economy in the world by 2027, according to the International Monetary Fund.
However, not all European farmers are pleased with the agreement. Tariffs on beef, chicken, sugar, flour, garlic, and ethanol will remain unchanged, a decision that may have raised eyebrows among some EU lawmakers. Nevertheless, officials say the deal was always seen as a compromise, given India's concerns over agriculture and dairy exports.
The trade deal is part of a flurry of agreements announced between the EU and India, including a security pact to deepen cooperation on maritime security, hybrid threats, and counter-terrorism. The two sides have also struck a labour mobility agreement to open up opportunities for young professionals and seasonal workers.
India's Prime Minister Narendra Modi called Tuesday's deal "the biggest free trade deal in history", hailing it as a major opportunity for his country. The deal will lead to Delhi slashing tariffs on cars to 10% over five years, benefiting European carmakers.
In a historic moment for trade diplomacy, the European Union and India have finalised a landmark free trade agreement, with European Commission President Ursula von der Leyen hailing it as the "mother of all deals". The deal is expected to open up India's vast market to EU goods, while also easing exports of textiles, gems, and pharmaceuticals.
The agreement is expected to double EU exports to India by 2032, with tariffs on over 96% of traded goods set to be eliminated or cut. This could lead to savings of €4bn (£3.5bn) in duties for European companies. The deal also paves the way for reduced tariffs on key products such as cars and wine, benefiting companies like Volkswagen, Renault, and BMW.
The agreement is seen as a significant boost to India's economy, which is one of the world's fastest-growing economies. With a population of over 1.4 billion people, India presents a vast and untapped market for EU goods. The deal could also help India become the fourth-largest economy in the world by 2027, according to the International Monetary Fund.
However, not all European farmers are pleased with the agreement. Tariffs on beef, chicken, sugar, flour, garlic, and ethanol will remain unchanged, a decision that may have raised eyebrows among some EU lawmakers. Nevertheless, officials say the deal was always seen as a compromise, given India's concerns over agriculture and dairy exports.
The trade deal is part of a flurry of agreements announced between the EU and India, including a security pact to deepen cooperation on maritime security, hybrid threats, and counter-terrorism. The two sides have also struck a labour mobility agreement to open up opportunities for young professionals and seasonal workers.
India's Prime Minister Narendra Modi called Tuesday's deal "the biggest free trade deal in history", hailing it as a major opportunity for his country. The deal will lead to Delhi slashing tariffs on cars to 10% over five years, benefiting European carmakers.
it's gonna be huge for both countries, especially for indian businesses who'll get to tap into the massive eu market 
european companies are also gonna love the increased exports, especially with those savings on duties 
and let's not forget about india becoming one of the top economies in the world by 2027 - that's some serious growth potential 
anyway, i know not all farmers are stoked about the deal, but hey, compromise is key, right? 
Plus, it'll also save European companies €4bn in duties 
. Still, overall, this is a major win for trade diplomacy and we should totes celebrate 
!
That's huge growth potential right there.
It's gonna be a game-changer for EU companies, especially those in the automotive sector. Can you imagine Volkswagen, Renault, and BMW reaping the benefits of reduced tariffs on cars? 
And let's not forget about the pharmaceuticals! This deal is all about leveling the playing field and giving European businesses a competitive edge.
. I mean, can you imagine having access to that huge Indian market with zero tariffs on most goods? It's like, a dream come true 
. And let's not forget about the savings - €4bn (£3.5bn) in duties is no joke 
I've got my finger on the pulse of this EU-India FTA and let me tell you, it's a BIG deal! 
It's gonna be a game-changer for companies like Volkswagen and BMW.
The savings from duty cuts are gonna be huge – €4bn, anyone? 
it's like they say "money makes the world go round" 
beef chicken sugar etc all still got tariffs but i guess india was like "we need this money so we'll compromise a lil bit" 
. and 10% tariff on cars over 5 yrs? that's still pretty steep for European carmakers to compete with Indian prices 
. Back in my day, we were lucky if the EU and US even talked about trade agreements. Now we've got EU-India on board, and it's massive 
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. But one thing's for sure: I won't be buying any cheap EU cars anytime soon 
. On the other hand, I do feel bad for the farmers who won't get any breaks on their beef and chicken exports 
. Guess it's just one of them trade-offs, right? 
, so it's no surprise the EU wants to tap into that. The fact that it could double EU exports by 2032 is mind-blowing! 
. Can't wait to see how this all plays out...
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, but I guess you can't win 'em all. The EU's already made concessions on agriculture, so it's all part of the game. Bring it on! 
I mean, isn't it weird that they're still getting hit with the same rates as before? 
I guess you can't win 'em all... 
.
. The fact that tariffs on over 96% of traded goods will be eliminated or cut is mind-blowing – we're talking €4 billion in savings for EU businesses! 
. With a population of over 1.4 billion people, India presents a tantalizing market opportunity for EU goods. The fact that this deal could help India become the fourth-largest economy in the world by 2027 is just staggering