India EU free trade deal to be finalized late 2026
India and the European Union are on track to finalize a major free trade agreement by late 2026.
This will be India's biggest trade pact yet, aiming to make business smoother between the two regions and open up more opportunities for both sides.
Tariffs cut on 96.6% EU exports
The EU hopes to nearly double its goods exports to India by 2032, thanks to big tariff cuts; tariffs will be eliminated or reduced on 96.6% of the value of European goods exports, saving European exporters around €4 billion each year.
Wine lovers might notice prices drop too, with tariffs falling from 150% initially to 75%, and eventually to as low as 20%.
The deal also covers things like services, sustainability, and intellectual property, though energy and critical minerals are off the table for now.
Both sides are working together on climate issues as part of the agreement.