India and the European Union are nearing a free trade agreement that could slash import duties on automobiles, including electric vehicles, to 10-15%. This move is anticipated to boost European luxury EV sales in India and position the country as a competitive manufacturing hub for these vehicles.
India-EU FTA likely to cut auto import duties, may spur surge in luxury EV imports
US Treasury Secretary Scott Bessent indicated potential removal of 25% extra tariff on India if its Russian oil purchases continue to decline, calling the outcome a “huge success.” This comes as the US Congress debates a bill that could impose a 500% duty on countries buying Russian oil, while India maintains its focus on securing […]
India, EU likely set to unveil new strategic agenda, announce ‘mother of all deals’ at Jan 27 summit
2 months ago
The upcoming India-EU summit on January 27 will focus on a joint strategic agenda to deepen cooperation across prosperity, technology, security, and connectivity. Leaders are also set to announce the conclusion of the long-pending free trade agreement, aiming to boost bilateral trade and investment.
The US has hinted at removing the additional 25% tariff on India after New Delhi sharply cut Russian oil imports. Treasury Secretary Scott Bessent said India’s purchases have “collapsed,” calling the tariffs a success. Imports fell about 30% year-on-year in early January. India maintains its strategic autonomy even as Washington weighs tougher trade measures.
India-EU FTA: European Union’s Vice-President Kaja Kallas is in New Delhi for a visit that could see a long-awaited free trade agreement finalized. This pact, dubbed ‘the mother of all deals,’ aims to boost trade between India and the 27-member bloc. A new security and defence partnership is also set to be signed, signaling a […]
Geopolitical uncertainty is rewiring global trade, India well placed: McKinsey Asia Chair
2 months ago
Global trade is undergoing a major shift due to geopolitical uncertainty. India is strategically positioned to benefit from this transformation over the next ten years. New trade routes are emerging, connecting India with the Middle East, Japan, Southeast Asia, and the European Union.
India and the European Union are nearing a significant Free Trade Agreement. Ambassadors from EU nations, including Italy, Estonia, and Malta, are optimistic about its conclusion. This deal is expected to boost trade and strengthen defense and strategic ties.
New EU GSP rules, effective January 1, 2026, will impact only 2.66% of India’s exports to the bloc. Agricultural products are excluded, and only leather benefits are reinstated in the non-agricultural sector. India’s graduation from GSP is attributed to its increasing export competitiveness.
India will be the partner country at Gulfood 2026 in Dubai. Over 160 exhibitors from 25 states will showcase processed foods, frozen products, and pulses. This participation aims to boost India’s agri-exports. The Indian Pavilion has doubled in size, reflecting growing global demand for Indian products. The event begins on January 26.
Facing global trade shifts and tariff pressures, India is urging its embassies to boost outreach in all markets, emphasizing that “every country matters.” The PMO has directed missions to diversify exports by engaging with even smaller economies, recognizing their potential for future growth and integration into global supply chains.