EU Commission Sends India FTA to Council

• The deal would eliminate or reduce tariffs on 96% of EU goods exports to India.
• The agreement would be the largest trade deal ever concluded by either the EU or India.
• EU officials link the pact to close to 800,000 EU jobs.
• Indian authorities are running their own ratification procedures in parallel.

Commission Action

The European Commission has put forward proposals to the Council for signature and conclusion of the FTA between the EU and India.

EU Commission Sends India FTA to Council

The Commission is seeking Council approval to sign the agreements. That step would then require the European Parliament's consent before conclusion and entry into force.

Indian authorities are going through their own internal ratification procedures in parallel.

Scope of the Deal

The agreement would eliminate or reduce tariffs on 96% of EU goods exports to India. If authorized, it would be the largest trade agreement ever concluded by either the EU or India.

The Commission expects the pact to make it easier for European companies to access the Indian market and compete on a more level playing field. It expects the deal to improve market access, reduce tariffs, tackle unnecessary barriers to trade, and provide predictable rules for trade and investment.

Consumers can benefit from increased choices and more competitive prices, according to the Commission.

Jobs and Strategy

EU officials tie the trade relationship with India to close to 800,000 EU jobs.

The Commission frames the FTA as reflecting the EU's commitment to strengthen economic ties with key partners in the Indo-Pacific region.

Procedure

A fast-track procedure is intended to speed up the implementation of FTAs.