India and the European Union have announced their commitment to finalize a free trade agreement by the end of this year. The announcement was made following a meeting between Indian Prime Minister Narendra Modi and European Commission President Ursula von der Leyen. The EU is India's largest trading partner in goods, with trade reaching $137.5 billion in the 2023/24 fiscal year. Discussions include lowering tariffs on automobiles and alcoholic beverages, while India seeks easier access for textiles and pharmaceuticals in Europe. The agreement aims to soften the effect of tariff increases from the United States.
India and EU Aim to Finalize Free Trade Agreement by Year-End Amidst Rising Global Trade Tensions
Edited by: Ирина iryna_blgka blgka
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