India’s Commerce Ministry says the India-EU Free Trade Agreement will cover nearly one-third of global trade and potentially affect about 2 billion people, calling it one of the biggest deals ever. Officials describe it as “mother of all deals,” reaching almost one fourth of global GDP and around $11 trillion in trade. The pact goes beyond tariffs, including services, digital trade, telecom, financial services, IP and regulatory practices. Businesses also flagged automotive tariff reductions and asked for clear rollout timelines.
Airbus India Managing Director Jurgen Westermeier described the India EU Free Trade Agreement as a win win for both sides, urging its early ratification. He said the deal could deepen economic cooperation between two major democratic blocs, which account for a large share of global GDP and trade, potentially boosting business and market access across sectors.
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