It is the largest such deal ever concluded by either side and will strengthen economic and political ties between the world's second and fourth largest economies.
About India-EU FTA
- Strategic Market Access: India will get preferential access in about 97% of EU tariff lines covering 99.5% of trade value.
- Key labour-intensive sectors such as textiles, leather, gems and jewellery etc. will get immediate zero-duty entry.
- Safeguards Sensitive Sectors: Including dairy, cereals, poultry, soymeal, certain fruits and vegetables through phased liberalization.
- Product Specific Rules: Self-certification through a Statement on Origin and special flexibilities, quotas and transition periods for MSMEs.
- Tackling Non-Tariff Barriers: Strengthened regulatory cooperation, greater transparency, and streamlined customs, Sanitary and Phytosanitary (SPS) procedures, and Technical Barriers to Trade disciplines.
- Services Trade: Stable market access in EU’s 144 service sub-sectors including IT, education, R&D and professional services.
- Ease of Mobility: Eases movement of employees of Indian corporates, business entities, and independent professionals.
Other Key Outcomes of India-EU Summit
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