The European Union and India have reaffirmed their commitment to concluding a long-awaited free trade agreement (FTA) by the end of 2025, marking a significant step in enhancing bilateral trade and investment opportunities. European Commission President Ursula von der Leyen highlighted the shared ambition to foster economic growth through deeper cooperation in trade, technology, and connectivity.
Speaking in New Delhi ahead of her meeting with Indian Prime Minister Narendra Modi, von der Leyen emphasized the importance of aligning priorities with evolving global trade dynamics. “The free trade agreement between the EU and India would be the largest deal of this kind anywhere in the world. You can count on my full commitment to make sure we can deliver,” she stated.
The negotiations, relaunched in 2021, have made considerable progress, with discussions focused on market access and regulatory frameworks. The next round of talks is scheduled for March, with both sides working to resolve outstanding issues and finalize a comprehensive trade pact that will benefit businesses and consumers alike.
The EU remains India’s largest trading partner, accounting for over $130 billion in trade during the 2023-24 fiscal year—an increase of nearly 90% over the past decade. With more than 6,000 European companies operating in India, the FTA is expected to unlock new opportunities across key sectors, including manufacturing, technology, and services.
As India continues to expand its global trade partnerships, the EU-India agreement is poised to enhance market access, streamline trade regulations, and drive sustainable economic growth. With both sides prioritizing collaboration, the deal is set to be a cornerstone in shaping the future of international trade.
#ITCNewsUpdates #TradeAgreement #EconomicGrowth #GlobalTrade #BreakingNews #NewsUpdate