EU-India Trade Talks Set to Surge: A New Era in Strategic Partnership
The EU and India are set to advance their trade relations with negotiations for a Free Trade Agreement, aiming for conclusion by year-end 2025. Both partners emphasize addressing tariffs and non-tariff barriers to boost economic ties.
- Country:
- India
The European Union and India are accelerating efforts to finalize a substantive Free Trade Agreement (FTA) by the end of 2025, according to Herve Delphin, the EU's Ambassador to India. Speaking at the Europe Day celebrations in New Delhi, Delphin highlighted the significance of the upcoming negotiations as a pivotal development in EU-India relations.
The EU represents India's largest trading partner, with trade in goods reaching 124 billion euros in 2023. India, equally pivotal to the EU, was its ninth largest trading partner, comprising 2.2 percent of the EU's total trade in goods. With an FTA, these figures are projected to grow significantly, strengthening the economic bonds between the two regions.
Prime Minister Narendra Modi and European Commission President Ursula von der Leyen have previously set the ambitious agenda for FTA, emphasizing the need to resolve outstanding issues with a focus on tariffs and non-tariff barriers. The next round of talks, scheduled for mid-May 2025 in New Delhi, aims to address these concerns under a mutually respectful framework.
(With inputs from agencies.)
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