India-EU FTA likely by December; $100bn deal with EFTA kicks in
India is gearing up to sign a major free trade agreement (FTA) with the European Union by December, as Commerce Minister Piyush Goyal expressed hope.
After picking up talks again in 2022 following an eight-year pause, both sides have worked through negotiation rounds covering everything from goods and services to investment and sustainability.
What does the FTA mean for you?
This FTA could make European cars, medical devices, wine, and spirits more affordable in India by lowering tariffs—and open up new opportunities for Indian businesses in Europe.
The EU already buys about 17% of all Indian exports, so smoother trade means bigger markets and more jobs back home.
Plus, on Wednesday, another big deal kicked in with EFTA countries (like Switzerland and Norway), promising lower tariffs on nearly all Indian exports there along with $100 billion in investments over the next 15 years.