Describing it as the “mother of all trade deals,” the Indian Prime Minister announced the signing of the historic India–EU Trade Agreement. The Free Trade Agreement between India and the EU covers economies. Both together account for nearly 25 per cent of global GDP and about one-third of world trade. The landmark pact expected to provide a significant boost to India’s manufacturing and services sectors. It will substantially enhance market access.

It stated that trade barriers on more than 90 per cent of Indian goods will eliminated under the agreement. Notably, European Commission President Ursula von der Leyen attended the Republic Day celebrations as the Chief Guest. It underscore the growing strategic partnership between India and the EU.

India will reduce tariffs on 96.6 per cent of European Union goods exports.

India will reduce import duties on

Wine,   Spirits, Beer, Olive oil, margarine and other vegetable oils, Processed food (breads, pastries, biscuits, pasta, chocolate, pet food),Kiwis and pears,  Fruit juices and non-alcoholic beef, Sheep meat, Sausages and other meat preparations.

EU will get access to s to India’s services market, particularly in financial services, maritime services, and other key sectors.

EU Car Manufacturers

Volkswagen, Audi, Porsche, Skoda BMW Group Mercedes-Benz (Daimler), Renault / Stellantis, Volvo,  Ferrari, Lamborghini ,Rolls-Royce ,Maserati

EU’s wine, spirits, and beer

Absolut vodka, Jameson whiskey, Rémy Martin cognac, Hennessy,Heineken, Carlsberg

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