The EU and India have concluded negotiations on a free trade agreement, described by both sides as the largest trade deal either party has reached. The agreement is expected to deepen economic ties and expand market access, with the EU Commission indicating that, once implemented, it could double EU goods exports to India by 2032 and reduce or eliminate tariffs on 96.6% of EU goods exports to India, saving around €4 billion per year in duties.

The deal includes provisions intended to make the agreement more accessible for SMEs, including measures on transparency, reducing regulatory barriers and establishing contact points to help companies understand and use the agreement. India also committed to significant tariff reductions in a number of industrial sectors.

Next steps include legal revision and translation, followed by approval procedures. On the EU side, the agreement will require endorsement by the Council and consent of the European Parliament before it can enter into force, alongside ratification by India.

EBI will analyse the agreement and provide an overview of impact for the boating industry.