Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Sugar prices ease marginally to Rs 64.33 per kg on Thursday
    ED freezes assets worth Rs 33 crore after raids against Gurugram realty group
    CARD91 Launches SpendFlow, a Commercial Card Platform Built for Enterprise Requirements
    Will talk to Japan on increasing basmati rice exports from India: Goyal
    Will consider Air India's biz strategy, other factors before deciding on additional fund requests: Singapore Airlines
    Commerce and Industry Minister Shri Piyush Goyal Concludes Japan Visit; Calls for Greater Japanese Investment and Stronger Industrial Partnerships wit...
    PM Jan Dhan Yojana Completes 12 Years of Transforming India’s Financial Inclusion Landscape
    Rassense Becomes First Indian CFS Company to Cross 5,000+ Employees; On Track to Cross INR 600 Crore in Revenue
    SVC Bank's Nationwide Cyber Safety Drive Reaches Over 19,061 Citizens Across 213 Housing Societies
    'Not haircut but mundan': Cong on NCLT clearing Subhash Chandra's Rs 6.5 crore payout
    Keralam: Escaped Assam prisoner reaches police station for Aadhaar card, flees again
    Women's Savings Account: Features that make opening one worth it
    Best Pension Plans and Annuity Plans in India 2026: A Full Comparison
    Rupee rises 4 paise to 95.40 against US dollar in early trade
    Minister of State for Commerce and Industry and Electronics & Information Technology Shri Jitin Prasada Concludes Official Visit to Morocco; Co-Chairs...
    Hyderabad police caution citizens against ''Hybrid Cyber Fraud''
    Hoping to work towards further expanding scope of India-Japan trade pact: Goyal
    Bajaj Finance Personal Loan Offers Limited-Time Rewards During Loan Utsav 2026
    Commerce and Industry Minister Shri Piyush Goyal Highlights India’s Growing Startup Ecosystem at India–Japan Startup Roundtable in Tokyo
    Sugar prices rise again by Re 1 per kg to Rs 65 in retail market
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 27, 2026
Show AI Summary
Sugar import liberalisation and stockholding limits seek to moderate retail prices amid constrained domestic supply and restricted exports.
Sugar price-control measures combine duty-free raw sugar imports, stockholding limits for dealers and bulk consumers, and an export prohibition to address elevated retail prices and curb hoarding. Domestic supply remains constrained by reduced sugarcane output, prior exports and diversion of sugar to ethanol. Net production is estimated below projected domestic demand, while closing stocks are expected to remain limited. Import access, inventory restrictions and export controls therefore operate as market-stabilisation mechanisms.
August 27, 2026
Show AI Summary
Money-laundering investigation into alleged homebuyer fraud led to searches and freezing of assets linked to realty promoters.
Money-laundering proceedings were initiated under the Prevention of Money Laundering Act on the basis of police FIRs alleging fraudulent inducement and non-delivery of residential plots. Searches at premises linked to real estate promoters resulted in the seizure or freezing of luxury vehicles, jewellery, bank accounts and securities. The investigation alleges that substantial upfront payments for residential plots were received, but a significant portion of promised plots remained undelivered, and certain plots were allegedly sold to third parties without consent.
August 27, 2026
Show AI Summary
Commercial card governance enables configurable credit, approvals, virtual cards and controlled supplier payments across enterprise payment workflows.
SpendFlow combines commercial card program configuration, credit management, virtual cards, spend controls, approvals, supplier payments, billing and accounting in one architecture. It supports centrally governed rules with approved corporate-level variations, enterprise hierarchy management, and virtual cards linked to entities, employees, accounts or credit facilities. Multi-tier approvals and virtual-card supplier payments support controlled business payment functions, while core banking and ERP connectivity links card activity with banking and enterprise financial workflows.
August 27, 2026
Show AI Summary
Basmati rice market access may be pursued through trade agreement review, subject to import limits and safety standards.
Market access for Indian basmati rice may be pursued through review of the Comprehensive Economic Partnership Agreement, as rice remains a sensitive sector subject to import quantity limits and duties beyond permitted quantities. Processed food exports offer further opportunities where exporters comply with Japanese quality and safety standards. Bilateral cooperation also covers investment, supply chains, technology partnerships and capital flows supporting infrastructure, manufacturing and semiconductor ecosystems.
August 27, 2026
Show AI Summary
Capital allocation discipline governs consideration of further Air India funding alongside business strategy, cash flow and investment requirements.
Further capital investment in Air India will be evaluated by Singapore Airlines' board through a disciplined capital-allocation process. Assessment will consider the group's capital requirements, Air India's business strategy, operating cash flow, investment needs for aircraft and products, and multi-hub investments intended to support long-term growth and returns. As a significant minority shareholder, Singapore Airlines supports Air India's transformation programme with Tata Sons, but no commitment to provide additional capital is indicated.
August 27, 2026
Show AI Summary
Semiconductor investment cooperation anchors expanded India-Japan industrial partnerships across technology, manufacturing, clean energy, infrastructure, and financial services.
Semiconductor and artificial-intelligence cooperation centres on a six-pillar semiconductor strategy encompassing chip design, semiconductor machinery and materials, fabrication, ATMP/OSAT, research and development, and talent development. Japanese participation is sought across semiconductor materials and equipment, power semiconductors, electronics, AI, logistics and related advanced technologies. Development of semiconductor clusters is linked to reliable power, ultra-pure water, skilled manpower and social infrastructure.
August 27, 2026
Show AI Summary
Financial inclusion through basic bank accounts enables direct welfare transfers, digital payments, insurance access and credit for excluded households.
PMJDY provides unbanked adults with basic bank accounts without minimum-balance or maintenance-charge requirements, free RuPay debit cards with accident insurance cover, and eligible overdraft support. Through the JAM framework, PMJDY accounts enable direct transfer of welfare benefits using bank accounts, Aadhaar-based biometric verification and mobile connectivity, reducing intermediary involvement and delays. The scheme emphasises rural, semi-urban, marginalised and women account holders while supporting access to insurance, pensions, savings, digital payments and credit, including MUDRA loans.
August 27, 2026
Show AI Summary
Contract food services expansion strengthens Rassense's nationwide institutional operations through new academic partnerships and technology-led service delivery.
Rassense Pvt Ltd reports crossing a workforce of more than 5,000 employees and projects revenue exceeding INR 600 crore. Its contract food services operations serve educational institutions, corporate campuses, healthcare facilities and industrial locations. New operations at IIM Jammu, IIM Bangalore and IIT Guwahati strengthen its nationwide institutional presence. Expansion is supported by academic institution partnerships, local workforce development, operational excellence, and technology-led capabilities in food production, food waste reduction and supply-chain management.
August 27, 2026
Show AI Summary
Cyber fraud awareness promotes safe digital banking by teaching customers to verify communications, protect credentials, and report suspicious transactions.
Cyber-fraud awareness and digital banking safety were promoted through community sessions addressing phishing, impersonation, OTP and UPI fraud, QR-code scams, digital-arrest fraud, and fraudulent customer-care calls. Participants were guided to identify authentic banking communications, avoid sharing confidential credentials, verify callers and links before acting, and promptly report suspected unauthorised transactions. Customer vigilance, financial literacy, and institutional security measures were emphasised as complementary safeguards against digital financial fraud.
August 27, 2026
Show AI Summary
Personal insolvency repayment plans may be approved despite minimal creditor recovery when requisite voting support and comparative valuation support them.
Personal insolvency repayment plan approval was granted under the Insolvency and Bankruptcy Code, 2016, despite objections that creditor recoveries were negligible and the proposed payment uncertain. The plan received 80.81 per cent voting support, while dissenting creditors held less than 20 per cent voting share. Valuation showed that the debtor's personal estate was materially below the offered amount, and rejection could result in bankruptcy and lower recovery. Assessment of settlement adequacy was treated as a matter of creditor commercial wisdom.
August 27, 2026
Show AI Summary
Prison escape security lapses prompt coordinated tracing measures, transport monitoring, inter-state alerts, and a detailed custodial-security inquiry.
Prison escape and custodial-security lapses arose after a detainee escaped from Aluva Sub Jail, allegedly by using an under-construction structure within the premises to cross the compound wall. Following his later appearance at a police station seeking return of his Aadhaar card, search measures included a lookout circular, information sharing with police stations, railway-security coordination, and alerting police in Assam. A detailed inquiry has been initiated into the prison-security deficiencies enabling the escape.
August 27, 2026
Show AI Summary
Women's savings account selection depends on practical benefits, charges, eligibility, and banking needs rather than the account label.
Women's Savings Accounts may provide standard banking facilities together with additional services or benefits for eligible women. Their suitability depends on practical use of digital banking, transfers, payments, alerts, debit-card facilities, accessibility, security features, charges, and minimum-balance conditions. Since regular Savings Accounts may offer comparable facilities, the additional benefits should be assessed against associated costs and conditions. Selection should be based on comparison of eligibility, facilities, balance requirements, benefits, customer support, and authentication safeguards rather than the account's women-focused label alone.
August 27, 2026
Show AI Summary
Retirement annuity selection prioritises payout structure, taxation, insurer strength and flexibility over brand comparison for informed retirement decisions.
Retirement planning may combine market-linked accumulation during working years, deferred annuities that lock future guaranteed income, and immediate annuities that convert retirement savings into regular payments. Annuity choice depends on whether the priority is higher income, continuation for a surviving spouse, or return of capital on death. Product comparison should consider market-linked growth versus income certainty, taxation of annuity income at applicable slab rates, insurer strength, and flexibility in deferment, payout frequency and policy loans.
August 27, 2026
Show AI Summary
Foreign exchange inflows through deposit and borrowing measures provided near-term rupee support amid lower crude prices.
Reserve Bank special measures relating to FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings were identified as attracting foreign-exchange inflows and providing near-term support to the rupee. The Reserve Bank became a net dollar buyer in June after two months of sales to support the rupee. The FCNR(B) window remained open until August 31, while the market outlook anticipated broader rupee depreciation over subsequent weeks.
August 27, 2026
Show AI Summary
Preferential trade agreement exploration advances bilateral market access, pharmaceutical cooperation, investment partnerships, and diversified trade.
India-Morocco economic cooperation is expanded through the seventh Joint Commission framework, targeting deeper and more diversified trade, investment, industrial collaboration and market access across goods and services. An India-Morocco Joint Working Group is to examine bilateral trade opportunities and the feasibility of a preferential trade agreement, including tariff and non-tariff barriers, improved market access and trade facilitation. Cooperation also addresses pharmaceutical market authorisation and approval timelines, food safety, sustainable agriculture, renewable energy, artificial intelligence, healthcare, and phosphates and fertilisers.
August 26, 2026
Show AI Summary
Hybrid cyber fraud exploits stolen smartphones and intercepted verification codes to compromise digital banking and payment accounts.
Hybrid cyber fraud combines physical smartphone theft with digital financial exploitation. Offenders obtain screen-lock credentials, steal devices and use control of the active SIM card to intercept verification codes and reset UPI and digital banking credentials. Preventive measures include withholding PINs, passwords and OTPs; avoiding storage of financial and identity records on phones; and immediately blocking the SIM card and freezing digital banking and UPI services after a theft.
August 26, 2026
Show AI Summary
CEPA review aims to expand bilateral trade engagement, address export barriers, and support regulatory registrations for exporters.
India and Japan are considering a review of the Comprehensive Economic Partnership Agreement to make the bilateral trade framework more contemporary and expand its scope, scale and commercial opportunities. The review is linked to balanced trade and to identifying export barriers arising from procedural requirements, language issues and time involved in market access. Regulatory compliance assistance may support product registrations required for overseas markets, including costly chemical registrations and pharmaceutical registrations.
August 26, 2026
Show AI Summary
Personal loan reward eligibility depends on successful campaign-period disbursal, alongside review of borrowing costs and repayment capacity.
Loan Utsav 2026 provides a limited-period reward bundle to eligible customers whose personal loan is successfully disbursed during the campaign period, subject to applicable terms and conditions. Personal loans are collateral-free and available subject to eligibility, customer profile, documentation and applicable loan terms. Applicants may choose a loan amount and repayment tenure based on their requirements. Extended tenures can reduce monthly EMI obligations but may increase total interest payable. Customers should review interest rates, EMI, processing charges, other loan costs and repayment capacity before accepting a loan offer.
August 26, 2026
Show AI Summary
Deep-tech investment cooperation advances through capital corridors, innovation bridges, manufacturing integration and startup pitching platforms for cross-border growth.
India-Japan startup cooperation is proposed to advance through a deep-tech capital corridor, a two-way innovation bridge, manufacturing and technology integration, and joint startup pitching platforms. Collaboration is directed towards patient capital, early-stage research, deep-tech commercialisation, technology validation, precision manufacturing, investment and market access. The partnership also emphasises MSME integration with startups and global supply chains, co-investment mechanisms, plug-and-play infrastructure, and institutional links among universities, research institutions, incubators and industry.
August 26, 2026
Show AI Summary
Sugar price-control measures combine raw-sugar imports, stockholding limits and export restrictions to curb retail price pressures.
Sugar price-control measures combine authorised raw-sugar imports, stockholding limits for dealers and bulk consumers, and an existing export prohibition to address elevated domestic prices. Imports are permitted within the specified period, while stockholding restrictions seek to curb speculation and hoarding. Retail prices continued to rise despite lower ex-mill prices, and the regulatory approach focuses on augmenting supply, limiting stock accumulation, and preventing export-related pressure on domestic availability.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

FACTSHEET - INDIA AND EUROPEAN UNION TRADE AGREEMENT

January 27, 2026

Contents
Summary
Note

Note

-

Bookmark

Print

Print

FACTSHEET

INDIA AND EUROPEAN UNION TRADE AGREEMENT

“MOTHER OF ALL DEALS” UNLOCKING OPPORTUNITIES

EMPOWERING INDIA@2047

India and the European Union (EU) announced the conclusion of negotiations for a Free Trade Agreement (FTA), an important milestone in one of India’s most strategic economic partnerships. Designed as modern, rules-based trade partnership, the FTA responds to contemporary global challenges while enabling deeper market integration between the world’s 4th and 2nd largest economies.

With a combined market estimated at over INR 2091.6 Lakh Crore (USD 24 trillion), bringing unparalleled opportunities for the 2 billion people of India and the EU, the FTA unlocks significant potential for trade and innovation. The FTA delivers unprecedented market access for more than 99% of India’s export by trade value, while preserving policy space for sensitive sectors and reinforcing India’s developmental priorities.

Bilateral merchandise trade between India and the EU has demonstrated sustained growth, valued approximately at INR 11.5 Lakh Crore (USD 136.54 billion) in 2024-25, with India exporting roughly INR 6.4 Lakh Crore (USD 75.85 billion) to the EU. India-EU trade in services reached INR 7.2 Lakh Crore (USD 83.10 billion) in 2024.

Despite healthy and growing trade, there is a significant untapped potential considering the size of each other’s market and trade. The FTA provides an unparalleled pathway and holds immense promise for both, India and the EU, to emerge as each other’s major economic partners.

This FTA of strategic significance evolves India-EU relations from a traditional into a modern, multifaceted partnership, providing a stable and predictable environment for exporters, enabling Indian businesses including MSMEs to plan long-term investments, integrate into European value chains, and ensure consistent favourable market access amid global economic uncertainties.

Empowering Businesses and Securing Future through seamless Market Access

India Secures Strategic Access to European Markets

India has gained preferential access to the European markets across 97% of tariff lines, covering 99.5% of trade value, in particular:

  • 70.4% tariff lines covering 90.7% of India’s exports will have immediate duty elimination for important labour-intensive sectors such as textiles, leather and footwear, tea, coffee, spices, sports goods, toys, gems and jewellery and certain marine products, amongst others;
  • 20.3% tariff lines covering 2.9% of India’s exports will have zero duty access over 3 and 5 years for certain marine products, processed food items, arms and ammunition, amongst others;
  • 6.1% tariff lines covering 6% of India’s exports will have preferential access by way of tariff reduction for certain poultry products, preserved vegetables, bakery products amongst others or through TRQs for cars, steel, certain shrimps/ prawns products, amongst others.

Key labour-intensive sectors (such as textiles, apparel, marine, leather, footwear, chemicals, plastics/rubber, sports goods, toys, gems, and jewellery), comprising more than INR 2.87 Lakh

Crore (USD 33 billion) of exports that are currently subjected to import duty between 4% to 26% in the EU and are crucial for employment generation, will enter zero duty from entry into force of the FTA and thus gain enhanced competitiveness in the EU market. These sectors are poised to benefit from tariff liberalisation and enhanced competitiveness, enabling deeper integration into global and European value chains and simultaneously creating job opportunities.

India’s offer to the European Union

Overall, India is offering 92.1% of its tariff lines which covers 97.5% of the EU exports, in particular:

  • 49.6% of tariff lines will have immediate duty elimination;
  • 39.5% of tariffs lines are subject to phased elimination over 5, 7, and 10 years’
  • 3% of products are under phased tariff reductions and few products are subject to TRQs for Apples, Pears, Peaches, Kiwi Fruit.

Imports of EU’s high technology goods are expected to diversify India’s import sources, thereby reducing input costs for businesses, benefit consumers and will create opportunities for Indian businesses to integrate into global supply chains.

Driving Agricultural Growth and Farmer Livelihoods, with adequate Safeguards

The FTA is expected to have a significant positive impact on the Indian agricultural and processed food sector. Preferential Market Access for agricultural products like tea, coffee, spices, grapes, gherkins and cucumbers, dried onion, fresh vegetables and fruits as well as for processed food products will make them more competitive in the EU.

This market access will strengthen farmers’ realised incomes, reinforce rural livelihoods, and elevate the global competitiveness of Indian agricultural products.

India has prudently safeguarded sensitive sectors, including dairy, cereals, poultry, soymeal, certain fruits and vegetables, etc. balancing export growth with domestic priorities. The FTA positions Indian agriculture to capture higher value in European markets, drive sectoral prosperity, and reinforces long-term resilience through sustained livelihood and reliable income opportunities.

Product Specific Rules aligned with existing Supply Chains

The FTA ensures that the goods exported under it undergoes adequate processing or manufacturing for them to get the originating status and preferential access. The product specific rules (PSRs) are balanced and aligned with existing supply chains. These PSRs ensure that substantial processing in the Parties is undertaken while providing for adequate flexibility to source inputs from global value chains.

Further, the FTA will facilitate ease of doing business by reducing the time and associated cost of compliance for Indian exporters by allowing self-certification through a Statement on Origin. The PSRs chart an innovative course by considering needs of MSMEs by locking in quotas for shrimps & prawns, and downstream aluminum products which would enable MSMEs to source non-originating inputs. They also incentivise ‘Make in India’ by building in transition period for certain PSRs in the machinery and aerospace sector.

Services-the key growth driver of trade in future

Services being dominant and faster growing part of both economies will trade more in future. Certainty of market access, non-discriminatory treatment, focus on digitally delivered services, ease of mobility are expected to provide boost to services exports.

Under the FTA, broader and deeper commitments have been secured from the EU across 144 services subsectors, including IT/ITeS, professional services, education, and other business services. This covers a vast range of services sectors spectrum in which Indian service providers will get a stable and conducive regime in the EU market to supply their services. India’s competitive, high-tech services are expected to drive India’s exports while benefitting EU businesses and consumers.

India’s offer on 102 subsectors covers EU priorities such as professional, business, telecommunications, maritime, financial, and environmental services. This will offer EU businesses a predictable regime to bring investment and innovative services to India thereby enhancing their exports and providing best in class services to Indian businesses.  This mutually beneficial framework is set to accelerate trade in services, unlock new opportunities for Indian professionals and businesses, and strengthen India’s presence in high-value global markets, fostering innovation, skills mobility, and knowledge-based economic growth.

Powering India’s Talent across Europe

The FTA establishes an assured regime for temporary entry and stay for professionals, including Business Visitors, Intra-Corporate Transferees, Contractual Service Suppliers, and Independent Professionals.

Through a comprehensive mobility framework, India strengthens its position as a global hub for talent. The framework eases movement of employees (and their spouses and dependents) of Indian Corporates established in the EU in all services sectors. For business entities aiming to provide services under a contract to EU clients, India can access 37 sub-sectors including IT, business, and professional services. 

Independent professionals intending to provide services to EU clients get certainty in 17 sub-sectors for Independent Professionals, covering IT, R&D, and higher education, creating expanded opportunities for Indian professionals and knowledge-driven trade. India and EU have agreed on constructive framework to enable Social Security Agreements in 5 years with all the EU Member States and a continuing conducive framework for entry of India students to study and avail post study work visa.

Expanding Horizons for Indian Traditional Medicine

The FTA is expected to provide a boost to Indian traditional medicine services and practitioners. In the EU Member States where regulations do not exist, AYUSH practitioners will be able to provide their services using the professional qualifications they gain in India.

The FTA also provides future certainty and locks in the openness of the EU for establishment of AYUSH wellness centres and clinics in the EU Member States. The FTA also envisages greater exchange with the EU to facilitate trade in Indian Traditional Medicine services.

Innovate, Protect, Prosper: Elevating Intellectual Property

The FTA reinforces intellectual property protections provided under TRIPS relating to copyright, trademarks, designs, trade secrets, plant varieties, enforcement of IPRs, affirms Doha Declaration and recognises the importance of digital libraries, specifically the Traditional Knowledge Digital Library (TKDL) project initiated by India. The IPR chapter provides for exchanging views and information on their respective laws and practices relating to the transfer of technology, including measures to facilitate information flows, business partnerships, etc.

Strengthening SPS and TBT Links for Safe, Standardised, Seamless trade

The FTA introduces enhanced cooperation on SPS and TBT matters. It will facilitate recognition of conformity assessment results, enabling equivalence on SPS measures on technical justification and localised responses to pest/ disease outbreaks. Through digitisation, information sharing, and adherence to international standards, the FTA reduces trade barriers, facilitates smoother market access, and strengthens regulatory predictability for exporters.

Sectoral gains under the India–EU FTA

Harvesting Growth beyond Farms: Preferential Access Fuels Agri Growth

India secures preferential market access for its agricultural exports, boosting competitiveness for processed foods, tea, coffee, spices, table grapes, gherkins and cucumbers, sheep and lamb meat, sweet corn, dried onion, and some other fruits and vegetable products.

This will strengthen rural incomes, women’s participation, and India’s position as a premium, trusted supplier in Europe.

Strategic safeguards for sensitive sectors like dairy, cereals, poultry, soymeal, certain fruits and vegetables, etc. ensure export growth while protecting domestic priorities.

Accelerating Exports through Engineering Excellence

With preferential market access for engineering goods presently facing tariffs as high as 22%, the FTA is expected to enhance India’s exports to the EU, which stood at approximately INR 1.44 Lakh Crore (USD 16.6 billion), and improve share in EU’s nearly INR 174.3 Lakh Crore (USD 2 trillion) engineering goods imports. The FTA is poised to empower MSME-led industrial hubs, catalysing industrial modernisation and global competitiveness.

Jobs and Growth: Labour-Intensive Industries Gain Competitiveness

Sectors like textiles, leather, footwear, marine, sports goods, toys, and gems and jewellery gain enhanced competitiveness through tariff elimination, supporting employment generation and EU market integration.

Stepping Up India’s Leather & Footwear exports in Europe

India’s world-acclaimed craftsmanship and MSME innovation in leather and footwear sector, supporting significant employment, is poised to unprecedented leap onto Europe’s stage.

Elimination of tariffs at entry into force of the FTA from up to 17% to zero across all tariff lines will help level the playing field for India’s exports to EU, valued at approximately INR 20.9 Thousand Crore (USD 2.4 billion) and improve share in EU’s nearly INR 8.71 Lakh Crore (USD 100 billion) leather and footwear imports. Regulatory alignment, simplified compliance, and support for design-led, sustainable products will enable a shift from low-margin production to value-added global leadership.

Marine Exports to get a Major Boost

Preferential access covering 100% of trade value, by reducing tariffs of up to 26% will unlock the EU marine market for imports (INR 4.67 Lakh Crore (USD 53.6 billion)). This enhanced market access is expected to significantly improve the competitiveness of India’s marine exports, while complementing and strengthening India’s export capacity in the marine sector, currently valued at INR 8,715 Crore (USD 1 billion) to the EU. The FTA will turbo-charge exports of shrimp, frozen fish, and value-added seafood exports, empowering coastal communities in Andhra Pradesh, Gujarat, Kerala, and beyond and India’s blue economy.

India’s Medical Instruments, Appliances, and vital Supplies

India’s medical Instruments, Appliances, and vital Supplies built on cutting-edge manufacturing, innovation, and skilled talent is set for a quantum leap in the EU. Tariffs of up to 6.7% eliminated across 99.1% of trade lines, enabling cost-competitive entry in European markets for lenses, spectacles, medical devices, measuring and testing instruments.

Promoting India’s Jewellery Export and creating enormous Job opportunities

The gems and jewellery sector, a blend of artistry, MSME entrepreneurship, and heritage craftsmanship, becomes more competitive in the EU market. From tariffs of up to 4% previously to gaining preferential access across 100% of trade value, India’s INR 23.5 thousand Crore (USD 2.7 Billion) jewellery exports become competitive through the FTA in INR 6.89 Lakh Crore (USD 79.2 billion) import market.

Threading Success: Textiles & Apparel high achievers

Gaining zero duty access in textiles and clothing, covering all tariff lines and reducing tariffs by up to 12%, would open up the EU’s INR 22.9 Lakh Crore (USD 263.5 billion) import market. Building on India’s current INR 3.19 Lakh Crore (USD 36.7 billion) in global textile and apparel exports, including INR 62.7 Thousand Crore (USD 7.2 billion) to the EU, such access would significantly expand opportunities, particularly in yarn, cotton yarn, cotton yarn, man-made fibre apparel, Ready-Made Garments, men’s and women’s clothing and home textiles. This would enable MSMEs to scale, generate employment, and reinforce India’s positioning as a reliable, sustainable, and high-value sourcing partner.

Plastics & Rubber exports to benefit extensively

India’s plastic and rubber industries will gain preferential access to the EU, a market with global imports valued at INR 27.67 Lakh Crore (USD 317.5 billion). With India’s current exports to the EU at INR 20.9 thousand Crore (USD 2.4 billion) and total global exports of INR 1.13 Lakh Crore (USD 13 billion), this access underscores substantial scope for growth. Enhanced access under FTA combined with India’s skilled manufacturing workforce and MSME-driven innovation, positions the country to increase employment, boost exports, and strengthen its global trade profile.

Chemicals: Expanding Exports, Generating Employment

FTA ensures zero duty on 97.5% of India’s chemical export basket by value, eliminating duties of up to 12.8% and boosting competitiveness across inorganic, organic, and agrochemicals. The FTA is expected to expand exports, strengthen MSME-led clusters and promote high-value, sustainable, and technologically advanced products, positioning India as a trusted supplier to EU’s nearly INR 43.57 Lakh Crore (USD 500 billion) chemical market for imports.

Unlocking opportunities in Mines and Minerals

Zero duty across 100% of tariff lines breaks cost barriers, ensuring India exports quality, reliable, and value-added minerals to the EU. The FTA unlocks opportunities to scale India’s presence in Europe’s high-value markets, while long-term, predictable access fuels partnerships with European manufacturers in steel, electronics, automotive, and renewable energy.

Significant Market Access for Home Décor, Wooden Crafts and Furniture

Lower duties of up to 10.5% provides enhanced access, boosting the competitiveness of Indian wooden, bamboo, and handcrafted furniture. The FTA supports growth in high-value, design-oriented segments and strengthens India’s role in global furniture supply chains.

Topics

Acts Income Tax