India and the European Union (EU) have agreed to finalize a long-pending free trade agreement by the end of this year, aiming to enhance cooperation in trade, technology, connectivity, and defense. This decision was reached during a meeting between Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen in New Delhi. The agreement is set to be one of the largest of its kind globally.
The EU, India’s largest trading partner, seeks to counter potential U.S. tariffs by prioritizing the deal with India. Von der Leyen emphasized the importance of pragmatism and ambition in realigning priorities to current global realities. The next round of trade negotiations will occur in March. Additionally, the EU and India share close cooperation in foreign policy, security, and technology. This strategic partnership aims to elevate bilateral relations significantly, with both leaders committed to achieving this goal.
The EU is seeking reduced tariffs on imported cars, whiskey, and wine, while India aims for better access to the EU market for its pharmaceuticals, textiles, and other goods. Despite the mutual benefits, challenges remain in negotiating tariff reductions.
The EU and India relaunched talks on the bilateral agreement in 2021, but issues like market access for products such as cars and alcoholic beverages have been sticking points. The next round of negotiations is set to take … . Over 6,000 European companies … .
Both sides are now determined to complete the trade deal within the year, aiming to strengthen their ties amid tariff threats from U.S. President Donald Trump. European Commission President Ursula von der Ley … emphasized the importance of this partnership, especially in light of geopolitical contexts. The potential trade agreement, which would be the largest of its kind globally, targets cooperation in areas such as terrorism, maritime security, and cybersecurity.
India and the EU cooperate closely … , and technology. The EU is India’s largest trading partner … In the 2023- … Over 6,000 European companies … .
Von der Leyen expressed optimism about the potential of the EU-India partnership, stating, “I want this visit to be the … .”
EU and India Accelerate Efforts to Finalize Historic Free Trade Agreement