India and the European Union have taken an important step towards signing a long-awaited free trade agreement, but formal approval from European and Indian authorities is still required.
India’s new free trade agreement with the European Union gives its electronics industry a major boost—opening a $750-billion market, cutting tariffs to zero.
When European Commission President Ursula von der Leyen described India as a ‘trusted partner’ and a central pillar of Europe’s long-term economic strategy, it reflected a clear shift in how India is viewed in global power centres.