India and EU clinch the 'mother of all deals' in a historic free trade agreement
Summary
India and the European Union have reached a historic free trade agreement aimed at deepening economic and strategic ties, covering most goods and reducing tariffs significantly.
Key Points
- India and the European Union finalized a comprehensive free trade agreement after nearly two decades of negotiations.
- The deal will remove or reduce tariffs on almost all goods, impacting sectors like textiles, wine, automobiles, and pharmaceuticals.
- The agreement also includes frameworks for defense, security cooperation, and easier mobility for skilled workers and students.
- The pact aims to counterbalance U.S. trade policies by strengthening Indo-EU supply chains and boosting trade potentially to $200 billion by 2030.
