India-EU FTA: 99% Exports to Get Tariff Concessions, Boosting Key Sectors

• India-EU Free Trade Agreement (FTA) will grant tariff concessions on over 99% of India's exports to the EU.
• 90% of Indian exports will see immediate duty elimination, rising to 93% over seven years, with an additional 6% facing reduced tariffs.
• Key labor-intensive sectors like textiles, gems, leather, and marine products are expected to receive a significant boost.
• EU tariffs on marine products, chemicals, textiles, and gems and jewelry will be eliminated, impacting $33.5 billion in exports immediately.
• India will liberalize tariffs on most EU goods, with duties on 30% eliminated immediately and 93% over 10 years.

Why It Matters: The India-EU FTA will significantly boost Indian exports, especially labor-intensive sectors, through extensive tariff concessions.