By Admin 
India eu fta: In addition to 25 percent tariff on India from the US, an additional tariff of 25 percent has been imposed as a panalty due to the purchase of crude oil from Russia. Due to this, the total rates have been 50 percent. The high tariff imposed on India has tightened the competition for Indian exporters in the American market. That is, it is becoming difficult for India to remain in front of Vietnam or Bangladesh and Pakistan exporters.
India-EU Free Trade Agreement
Meanwhile, efforts are being intensified between India and European Union for ambitious free trade agreement and two important meetings have been scheduled next month to remove all pending differences. According to officials, a delegation of European officials is coming to New Delhi this week. Where they can discuss issues with differences such as market access, customs duty on agricultural products and especially alcohol and dairy.
This step is being taken at a time when India is under pressure from American high tariff. And the White House is constantly putting pressure on the European Union to impose additional customs on India due to buying oil from Russia.
New Delhi’s eye on the new market
Actually, both sides are trying to do the conversation by the end of this year. Because due to the influence of Trump Tariff, New Delhi is looking for a new market. India’s European Union is a large trading partner and bilateral trade between the two countries has touched a figure of about 135 billion in 2023-24.
It is believed that the European Union will present its new vision on 17 September regarding India. And it can be formally announced at the conference to be held early next month.
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