EU seeks final approval for Free Trade Agreement to slash tariffs on 96% of goods to India

The European Commission has requested approval from EU member states to finalise a Free Trade Agreement (FTA) with India, a move designed to slash or remove tariffs on 96% of EU goods exports. The deal is projected to reduce costs for European exporters by approximately €4 billion annually. To become operational, the pact must first be cleared by the Council, followed by consent from the European Parliament and formal ratification by the Government of India. This sequence of approvals determines when the revised tariff structures will actually impact trade flows. The agreement focuses on expanding market access for businesses in both regions by lowering trade barriers. Beyond the reduction of customs duties, the framework incorporates regulations on intellectual property rights and sustainable development standards to govern long-term commercial cooperation.