India-EU FTA to Slash Duties: Wine, Olive Oil, Processed Foods to Get Cheaper

• The India-EU Free Trade Agreement (FTA) will significantly reduce tariffs on agri-food products, making European wines, olive oil, bread, and bakery items cheaper in India.
• India will cut wine tariffs from 150% to 75% immediately, further lowering them to 20%; olive oil tariffs will drop from 45% to zero over five years.
• Processed agricultural products like bread and confectionery will see tariffs up to 50% eliminated, creating new export opportunities for European manufacturers.
• Sensitive European agricultural sectors, including beef, chicken meat, rice, and sugar, are excluded from liberalization to protect domestic EU producers.
• Negotiations are also underway for a separate Geographical Indications (GI) Agreement to protect iconic European agricultural products in the Indian market.

Why It Matters: The India-EU FTA will make European wines, olive oil, and processed foods cheaper in India by reducing tariffs.