{"id":18335,"date":"2025-03-07T08:41:01","date_gmt":"2025-03-07T03:11:01","guid":{"rendered":"https:\/\/www.indianwineacademy.com\/articles\/?p=18335"},"modified":"2025-03-07T09:00:23","modified_gmt":"2025-03-07T03:30:23","slug":"item_4_965","status":"publish","type":"post","link":"https:\/\/www.indianwineacademy.com\/articles\/item_4_965\/","title":{"rendered":"India EU FTA set to finally conclude by the Year-end"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18335\" class=\"elementor elementor-18335\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4720b6a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4720b6a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-53f09f7\" data-id=\"53f09f7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70aab53 elementor-widget elementor-widget-text-editor\" data-id=\"70aab53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tPosted: Thursday, 06 March 2025 23:40\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-ad9e937\" data-id=\"ad9e937\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-cccb2a7\" data-id=\"cccb2a7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9669605 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9669605\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b62f3ec\" data-id=\"b62f3ec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c0e78f1 elementor-widget elementor-widget-text-editor\" data-id=\"c0e78f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"row\">\n<div class=\"col-sm-12\">\n<h1 class=\"articlepagetitle_heading\">India EU FTA set to finally conclude by the Year-end<\/h1>\n<div class=\"articlepageintroline\">March 06: India and the European Union (EU) have announced a year-end deadline for concluding the long-pending FTA (Free Trade Agreement), marking their first firm commitment to a timeline after years of negotiations. Announced at the end of visit of the European Commission President Ursula von der Leyen\u2019s visit to India a week ago, implies that both sides are now serious to counter the impact of the onslaught of potential tariff hikes by POTUS Trump<\/div>\n<div class=\"articledata\">\n<p>European Commission PresidentUrsula Von der Leyen and Indian PM Narendra Modi emphasized the need to finalize negotiations that have faced several roadblocks and announced at the joint Press Conference, but the deadline has been set to finalize the deal by the end of this year (2025).Mr. Modi said, \u201cWe have now prepared a blueprint for collaboration in the areas of trade, technology, investment, innovation, green growth, security, skilling, and mobility.\u201d<\/p>\n<p>Talks for the agreement had started in 2007 and stalled for eight years in 2013 after several parleys since the general elections were taking place in 2014. They resumed in 2021 when the Modi Government agreed to start all over again. India has been reluctant to decrease import duties as has been continuously emphasized by Trump. EU on its part, has been hesitant to ease visa restrictions for Indian professionals. There have been other points of disagreement like duty reduction on wines and spirits but in 2022 a similar Treaty was signed according to which the duties on <a href=\"https:\/\/www.indianwineacademy.com\/item_3_907.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #990000;\">premium Australian<\/span><\/a> wines were decreased in steps over the next 10 years.<\/p>\n<p>The EU is India\u2019s largest trading partner in goods, with bilateral trade increasing nearly 90% over the past decade to reach $137.5 billion in the Fiscal 2023-24. Von der Leyen called for an \u201cambitious\u201d trade and investment agreement, highlighting sectors such as batteries, pharmaceuticals, semiconductors, clean hydrogen, and defense as key areas of cooperation.<\/p>\n<p><strong>Also Read : <a href=\"https:\/\/www.indianwineacademy.com\/item_3_913.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #990000;\">India EU FTA: First Round of Negotiations concludes in Delhi<\/span><\/a><\/strong><\/p>\n<p>The world economic order has been changing fast since Donald Trump took over the Oval Office on January 20 this year. He has been threatening to impose reciprocal tariffs on all nations, including the EU and India with some reciprocal tax increases already announced and in force. He even made Modi do the impossible-reducing duties on the popular motorcycles, Harley Davidson by 50%.<\/p>\n<p>Both the EU and India and in fact most other countries with stable or growing economies need to come together and face the brunt of the current onslaught by the US better. \u201cWe both stand to lose from a world of spheres of influence and isolationism, and stand to gain from a world of cooperation and working together and there is an opportunity for Europe and India to reimagine their partnership,\u201d says Von der Leyen\u201d<\/p>\n<p><strong>Also Read : <a href=\"https:\/\/www.indianwineacademy.com\/item_1_909.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #990000;\">European Union maybe over optimistic about FTA with India<\/span><\/a><\/strong><\/p>\n<p>There have been several points of difference between the two. The EU has been pushing India to reduce tariffs exceeding 100% on imported cars, whiskey (the major constituent UK has since left EU and a separate Indo-UK FTA has been on a parallel track) and wine.India wants greater access for its pharmaceuticals and chemical exports and reduced tariffs on textiles, garments, and leather products. India also objects to the EU\u2019s proposed carbon border tax, and has reportedly threatened to impose tariffs of 20% to 35% on high-carbon goods like steel, aluminum, and cement from January 2026.<\/p>\n<p>Incidentally, Piyush Goyal is currently in the US to meet his counterparts to discuss various trade issues and tariffs so that India is least affected in the battle of nerves between Trump and Modi.<\/p>\n<p><strong>Also Read : <a href=\"https:\/\/www.indianwineacademy.com\/item_4_878.aspx\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #990000;\">India and EU getting Ready for FTA Talks in May <\/span><\/a><\/strong><\/p>\n<p>It may be added that each constituent nation of the EU has to ratify the treaty individually and the process may take another 1-2 years before it becomes a reality and the Indian wine lovers can see a dent in the heavy duties. Moreover, excise duty is a state subject and many States might insist on increasing excise duties but seemingly would refrain as a majority of States are controlled by the same party BJP and the threat seems to be minimal at this stage.<\/p>\n<p><strong>Subhash Arora<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Posted: Thursday, 06 March 2025 23:40 India EU FTA set to finally conclude by the Year-end March 06:<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[82,80],"tags":[885,887,92,655,886],"class_list":["post-18335","post","type-post","status-publish","format-standard","hentry","category-other-headlines","category-top-headline","tag-eu","tag-european-commission","tag-fta","tag-india","tag-india-and-the-european-union"],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","slider-bg":"","card-grid":"","card-list":"","morenews-featured":"","morenews-large":"","morenews-medium":""},"author_info":{"display_name":"admin","author_link":"https:\/\/www.indianwineacademy.com\/articles\/author\/admin\/"},"category_info":"<a href=\"https:\/\/www.indianwineacademy.com\/articles\/category\/other-headlines\/\" rel=\"category tag\">Other Headlines<\/a> <a href=\"https:\/\/www.indianwineacademy.com\/articles\/category\/top-headline\/\" rel=\"category tag\">Top Headline<\/a>","tag_info":"Top Headline","comment_count":"0","_links":{"self":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/18335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/comments?post=18335"}],"version-history":[{"count":7,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/18335\/revisions"}],"predecessor-version":[{"id":18342,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/posts\/18335\/revisions\/18342"}],"wp:attachment":[{"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/media?parent=18335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/categories?post=18335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indianwineacademy.com\/articles\/wp-json\/wp\/v2\/tags?post=18335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}