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Wine, Olive Oil and Processed Foods Set to Become Cheaper as India–EU FTA Slashes Duties
The agreement will eliminate tariffs on 90% of Indian exports to the EU on day one, boosting sectors like marine products and textiles, with trade targets of $200 billion by 2030.
- On Tuesday, Prime Minister Narendra Modi, European Commission President Ursula von der Leyen and European Council President Antonio Costa announced the deal, with tariffs eliminated on 90 per cent of Indian export lines on day one.
- After talks were relaunched in 2022, negotiators aimed to deepen economic ties with a target of growing trade to $200 billion in goods and $125 billion in services by 2030, including the October 2025 formal round.
- Detailed sector cuts show tariffs on European wines, beers, olive oil, and autos, including a 250,000‑vehicle quota, face phased reductions over five years, with tariffs on wine dropping from 150 per cent to 20 per cent.
- Indian exporters will gain new lower-tariff markets, with average tariffs for Indian exports to the EU dropping from 3.8 per cent to around 0.1 per cent in a market home to almost 500 million people.
- The agreement is under legal review and signing, with ratification expected to take roughly a year, while around 3 per cent of tariff lines will be phased out and about 6 per cent quota‑restricted, excluding sensitive products like beef, sugar, rice, and poultry.
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11 Articles
11 Articles
India-EU FTA: Why European wines may soon cost less in India
European wines will enter the Indian market at reduced prices under a free trade agreement that will significantly lower import duties. Indian wines will also gain access to EU markets, with concessions announced for both sides.
·New Delhi, India
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One of the great winners of the vast free trade agreement is the wine sector, which suffers from a consumer crisis in France.
·Paris, France
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Trade relations between Portugal and India are residual but the trade agreement between 27 and India may mean opportunities for Portuguese industry and agriculture, in accordance with the tariff reductions already announced by the European Commission.
·Portugal
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Total News Sources11
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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