India, EU Poised to Conclude Landmark Free Trade Talks, Boost Exports

• India and the EU are expected to announce the conclusion of free trade agreement (FTA) negotiations on Tuesday, aiming to lower tariffs and expand market access.
• The agreement could reduce tariffs on European automobiles and wine, while boosting Indian electronics, textiles, and chemicals exports.
• The announcement is anticipated after a meeting between PM Narendra Modi, European Council President Antonio Costa, and European Commission President Ursula von der Leyen.
• If ratified, the FTA is projected to significantly enhance Indian exports, particularly in textiles and jewellery, and help compete with countries like Bangladesh and Vietnam.
• Bilateral trade between India and the EU reached $136.5 billion in the 2024/25 fiscal year, making the EU one of India's top trading partners.

Why It Matters: India and the EU are set to finalize a major trade deal, promising significant economic benefits for both sides.