Overview
- The agreement cuts or removes tariffs on most goods and is estimated to save EU exporters about €4 billion each year.
- The deal links two markets approaching 2 billion consumers, tapping India’s large, fast‑growing middle class.
- The EU will commit €500 million to support India’s sustainable industrial transition as part of the accord.
- U.S. officials criticized the move due to India’s purchases of Russian oil, with Treasury Secretary Scott Bessent warning of self‑defeating financing.
- The accord caps a year of rapid EU trade activity with Mexico, Chile and Indonesia as the separate EU‑Mercosur pact faces a legal challenge at the EU Court of Justice.