EU-India Trade Deal: Pragmatism Trumps Caution – Societe Generale
Societe Generale's Kunal Kundu discusses the recently concluded EU-India Free Trade Agreement (FTA), highlighting its potential to create a free-trade zone covering nearly 2 billion people and a fourth of global GDP. The FTA is expected to significantly reduce tariffs on both sides, with India eliminating duties on 96.6% of EU exports and the EU lowering tariffs on nearly 99% of Indian exports. The deal aims to boost bilateral trade from $136.5 billion to $200 billion by 2030.
Impact of EU-India Free Trade Agreement
"After nearly two decades of stop-start talks, India and the European Union (EU) have finally concluded negotiations on a free trade agreement by (FTA) taking a more pragmatic approach in overcoming existing barriers to negotiations."
"The EU expects its exports to India to double by 2032, supported by lower duties across high-value sectors such as autos, agri-food, and machinery."
"Both sides aim to raise bilateral trade from $136.5 bn to $200 bn by 2030."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)