India and EU Finalise Free Trade Deal, Official Announcement Expected Today

New Delhi: The Free Trade Agreement (FTA) negotiations that have been going on for nearly 20 years between India and the European Union have now been successfully completed and the agreement is set to be announced today. Commerce Secretary Rajesh Aggarwal has said that this is a comprehensive agreement, which will include goods, services and investments and has described it as a “balanced, forward-looking deal”.

What benefits will we get from FTA?

This agreement is likely to provide deep support to trade and investment between India and the EU. Both sides have said that this will help in promoting bilateral trade and increase the competitiveness of companies. Under the agreement, there will be a gradual reduction in duties on many goods, which will give Indian exporters better access to the European market, and help European companies invest and expand in India.

Will everything be implemented immediately?

The agreement has now resulted from negotiations, but it must go through a process of legal review and approval. According to officials, the text of the agreement will be sent to lawyers in the next few months and then it could be formally implemented in early 2027. The process will also include approval from both the European Parliament and India.

What changes can happen in India-EU trade?

Many custom duties and tariffs are expected to be cut under the proposed FTA. For example, import duty on cars, liquor and high-priced goods may be reduced, making foreign products cheaper in the Indian market. At the same time, Indian textiles, leather, marine products etc. are likely to get a better place in the European market. The objective of this agreement is to increase the trade of both the parties and further strengthen the supply chain.

Why does this deal seem important to anyone?

This agreement is not only being considered commercial, but is also considered important in the strategic and global economic context. This is a major step towards further strengthening the global economic balance between Europe and India, especially as trade policies are rapidly changing around the world. Analysts believe this partnership could open up new opportunities for economic growth and investment for both