India-EU FTA: $75 Billion Export Boost for India, EU Shipments to Double by 2032

• India and the 27-nation European Union concluded talks for a Free Trade Agreement (FTA) on January 27, aiming for greater market access for both sides.
• The FTA is projected to boost Indian exports by $75 billion, with preferential access on over 99% of goods, while the EU expects to double its outbound shipments by 2032.
• Key Indian labor-intensive sectors like textiles, leather, footwear, gems, and jewelry will see immediate duty elimination, benefiting clusters in Tiruppur, Vellore-Ambur, Mumbai, Surat, and Jaipur.
• India will gain preferential access to 144 EU sub-sectors in services and uncapped student mobility, while opening 102 sub-sectors for EU firms.
• The EU will benefit from India's progressive liberalization of tariffs on 92.1% of its tariff lines, including high-tech goods, machinery, chemicals, and certain agricultural products.

Why It Matters: The India-EU FTA promises significant economic growth and market access for both regions, boosting trade and jobs.