European Commission proposes India FTA would support €180bn, 800k jobs
Business
The European Commission has just proposed a free trade agreement (FTA) with India, aiming to take their partnership to the next level.
If it goes through, this would be the largest trade pact between the two, supporting over €180 billion in annual trade and around 800,000 jobs across the European Union.
Tariffs cut on 96% EU goods
The FTA is set to cut tariffs on 96% of European Union goods heading to India, meaning European businesses could save about €4 billion every year.
It also promises smoother rules for investment and better market access for European Union companies in India.
The deal is getting fast-tracked by Commissioner for Trade and Economic Security Maros Sefcovic as both sides look to strengthen ties amid global challenges.