Their efforts to finalize a free transaction agreement are maximized by the European Union (EU) and the IndiaHe said a top minister in the Prime Minister’s cabinet Narendra Monty, as the southern Asia nation is trying to broaden his trade relations beyond the US after the impact of duties.
“India and the EU are working with honestly and commitment to finalize a comprehensive and balanced free trade agreement,” Pijcian Goyal’s Minister of Commerce said at an event for the industry in New Delhi on Friday (12.9.25), according to Bloomberg. The search for a “perfect agreement” should not stand in the way of the finalization of the trade agreement, Payion Goyal said, reflecting its urgent character.
India is looking for alternative destinations to mitigate the impact of the 50% duty imposed by President Donald Trump on exports of goods from South Asia. Bloomberg Economics estimates that if the new duties remain, they could reduce exports to the US by about 52% and the country’s gross domestic product by almost 1% in the medium term.
The negotiations are “intense” and are proceeding with “unprecedented momentum”, as both sides were trying to complete the agreement by the end of the year, EU Commissioner for Commissioner and Economic Security, Maros Sefzovic, told the same event. It is in India for commercial talks.
The two sides are training “an economically essential, win-win package” to help businesses and people in Europe and India, he said.