EU deal: What is in store for India?

India and European Union (EU) concluded their free trade agreement (FTA), which is termed as “mother of all deals.” Here is a look at what are the benefits for various sectors in India. The deal would help scaling Indian industries to USD 20 trillion European market.

Listen to this article

For textile sector:

Zero duty applicable from day one for textiles, apparel and clothing

FTA unlocks access to the USD 263.5 billion EU textile market

 For agriculture and Food:

Preferential access for Grapes, Tea, Coffee, Spices, Gherkins, Ghee, Cucumbers, Sweetcorn, Dried Onions etc.

The SAFEGUARD

Strategic protections kept for Poultry, Dairy & Cereal to support local farmers.

 Engineering and Manufacturing:

Direct entry into a USD 2 Trillion industrial market; Preferential Access for Indian Engineering Goods.

Fueling India’s USD 300 Billion export target by 2030.

Leather and Footwear

Tariffs slashed from 17 per cent to 0 per cent

Tapping into the USD100 Billion EU leather & footwear segment.

Pharmaceuticals and Med-tech:

Opens up a USD 572 Billion EU market for India

Gems and Jewellery sector:

100 per cent duty-free access

Shimmering opportunities in a USD 79 Billion premium market.

Marine and Seafood:

Full preferential access across the export basket in a USD 53.6 Billion EU market.

Major boosts for shrimp, frozen fish, and value-added seafood products.

 Chemicals and Petrochemicals:

Duty free entry on 97.5 per cent of export; major opportunity to unlock potential in USD 500 Billion EU Market.

Gains across inorganic & organic chemicals, fertilisers, pharmaceuticals, cosmetics, soaps & detergents

Also read this: https://industrialeconomist.com/a-look-at-india-eu-free-trade-agreement/

Latest

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in...

UPI completes 10 years

Annual transaction volume expanded from just 1.78 crore transactions...

Newsletter

Don't miss

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in...

UPI completes 10 years

Annual transaction volume expanded from just 1.78 crore transactions...

TCS lands major deal from Porsche

The acquisition will strengthen TCS’ presence in the German...

No longer required to pay State levies: Dalmia Bharat

The Act notified by the Central Government as amended the Mines and Minerals (Development and Regulation) Act, 1957 (“MMDR”), to restrict the imposition of...

Grounding of Parandur plan: Will it hurt TN dream?

The proposed second airport project at Parandur was announced in August 2022. Since then, people in and around the village have been protesting and...

FM Sitharaman to visit Canada, US

During her visit to Toronto, Canada,  Sitharaman will participate in the inaugural Economic and Financial Dialogue with H.E. Mr. François-Philippe Champagne, Minister of Finance and National Revenue...