India-EU Free Trade Agreement moves closer to final approval

The India-EU Free Trade Agreement has advanced toward final approval after the European Commission presented it to the EU Council for consideration. The agreement will eliminate or reduce tariffs on ninety-six percent of EU goods, significantly opening market access between the two economies.

Bilateral trade in goods and services between India and the EU currently stands at over one hundred eighty billion euros annually. The pact is anticipated to enter into force by the end of this year or early next year, marking a substantial economic milestone for both trading partners.