EU and India seal trade pact to slash €4bn of tariffs on bloc’s exports |
| The EU and India have signed a sweeping trade agreement that will eliminate or reduce tariffs on 96.6% of EU exports to India, potentially doubling EU shipments and removing up to €4bn in duties. The deal, described by Brussels as its largest ever, cuts levies on European cars, machinery, alcohol, and food products, while excluding sensitive agricultural goods. Tariffs on EU wine will fall from 150% to 20%, and car duties will drop from 110% to 10% for up to 250,000 vehicles annually. The pact, aimed at strengthening economic ties amid global trade tensions, still requires approval from the EU parliament, member states, and India’s cabinet. |
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