"NEW DELHI After nearly two decades of negotiations, India and the European Union announced Tuesday they have reached a free trade agreement to deepen economic and strategic ties. The accord, which the EU chief described as the "mother of all deals," could affect as many as 2 billion people. The deal between two of the world's biggest markets comes as Washington targets both India and the EU with steep import tariffs, disrupting established trade flows and pushing major economies to seek alternate partnerships."
"The accord will see free trade on almost all goods between the 27 members of the EU and India, covering everything from textiles to medicines and bringing down high import taxes for European wine and cars. India and the EU also agreed on a framework for deeper defense and security cooperation, and a separate pact aimed at easing mobility for skilled workers and students, signaling their partnership extends beyond commerce."
"The negotiations for the India-EU deal got a new impetus after U.S. President Donald Trump's strong-arm trade tactics, including threatening his European allies with punitive tariffs over their objections to Trump's attempt to take control of Greenland. Speaking at a joint news conference in New Delhi with European Commission President Ursula von der Leyen and European Council President Antonio Costa, the Indian leader said the partnership with the EU "will strengthen stability in the international system" at a time of "turmoil in the global order.""
India and the European Union finalized a comprehensive free trade agreement after nearly two decades of negotiations, deepening economic and strategic ties. The pact eliminates most tariffs between India and the 27 EU members across sectors from textiles to medicines, and reduces high import taxes on European wine and cars. The agreement includes a framework for deeper defense and security cooperation and a separate mobility pact for skilled workers and students. The deal covers roughly 25% of global GDP and one-third of global trade and could affect up to two billion people. Escalating U.S. trade pressure helped accelerate the talks.
#indiaeu-free-trade-agreement #trade--tariffs #defense-and-security-cooperation #skilled-worker-mobility
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