NEW DELHI, 27 Jan. - (ANA) - India and the European Union struck a long?delayed deal on Tuesday that will slash tariffs on most goods, aiming to boost two?way trade and reduce reliance on the United States amid growing global trade tensions.

 

The deal is expected to double EU exports to India by 2032 by eliminating or reducing tariffs in 96.6% of traded goods by value, and will lead to savings of 4 billion euros ($4.75 billion) in duties for European companies, the EU said.

 

The EU will cut tariffs on 99.5% of goods imported from India over seven years, with tariffs to be cut to zero on Indian marine goods, leather and textile products, chemicals, rubber, base metals and gems and jewellery, Indi'a trade ministry said.

 

India and the EU said agriculture-related items like soya, beef, sugar, rice and dairy have been kept out of the purview of the trade deal.

 

The deal is expected to double EU exports to India by 2032.  - (ANA) -

 

AB/ANA/27 January 2026 - - -