New Delhi, India – India and the EU have signed a landmark free trade agreement after nearly two decades of negotiations, impacting around 2 billion people and a combined market of nearly $27 trillion. The deal will significantly reduce tariffs, enhance access to various sectors, and is expected to boost India’s manufacturing and services industries. Notably, India will open its automobile market, reducing tariffs on EU imports to 30-35%, phasing down to 10% over time. This agreement represents a strategic shift for both regions, diversifying trade beyond reliance on the US market.
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