India, EU agree on draft free trade agreement
After long-delayed talks, India and the European Union have agreed on a draft free trade agreement.
This means most goods traded between the two—over 96% from the EU and 96.6% from India—will see tariffs slashed or removed.
The deal also promises fair trading terms for at least five years and brings in rules that follow global trade standards.
What will the deal mean for you?
This deal is set to make European cars, medicines, and steel much cheaper in India—think car import taxes dropping from 110% to just 10%.
Indian products like textiles, jewelry, and processed foods will get easier entry into Europe.
Plus, both sides are teaming up on digital trade and climate action, with the EU mobilizing finance and investment to support India's emissions reductions.
It's a win for jobs, tech, travel—and your wallet might just thank you too.