• Source:JND
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India-EU FTA: A Free Trade Agreement (FTA) between India and the European Union has been signed, paving the way for lower prices on several goods. According to the EU, the pact will eliminate or reduce tariffs on over 90 per cent of its exports to India. Prime Minister Narendra Modi called the agreement not just a trade deal, but a blueprint for shared prosperity. This deal will save EU exporters up to 4 billion euros in tariffs annually. This is the largest trade opportunity India has ever offered to any partner.

Tariff Reduction On Goods

After the signing of this free trade agreement, import duties or tariffs on 90 per cent of goods coming from Europe will be reduced to zero or very low. As a result, many goods coming to India from Europe will become cheaper, including products ranging from chocolate and wine to cars.

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Product: machinery and electrical equipment
Current Tariff (per cent): up to 44
Upcoming Tariff (per cent): 0 for almost all products

Product: Aircraft and spacecraft
Current Tariff (per cent): up to 11
Upcoming Tariff (per cent): 0 for almost all products

Product: Optical, medical and surgical instruments
Current Tariff (per cent): up to 27.5
Upcoming Tariff (per cent): 0 for 90 products

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Product: plastic
Current Tariff (per cent): Up to 16.5
Upcoming Tariff (per cent): 0 for almost all products

Product: pearls, precious stones and metals
Current Tariff (per cent): up to 22.5
Upcoming Tariff (per cent): 0 for 20 products and reduced fees for others

Product: chemicals
Current Tariff (per cent): Up to 22
Upcoming Tariff (per cent): 0 for almost all products

Product: motor vehicle
Current Tariff (per cent): 110
Upcoming Tariff (per cent): 10 (quota of 250k)

Product: iron and steel
Current Tariff (per cent): Up to 22
Upcoming Tariff (per cent): 0 for almost all products

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Product: pharmaceuticals/medicines
Current Tariff (per cent): 11
Upcoming Tariff (per cent): 0 for almost all products

Product: wine
Current Tariff (per cent): 150
Upcoming Tariff (per cent): 20 (Premium Range), 30 (Medium Range)

Product: spirits
Current Tariff (per cent): Up to 150
Upcoming Tariff (per cent): 40

Product: beer
Current Tariff (per cent): 110
Upcoming Tariff (per cent): 50

Product: olive oil, margarine, and other vegetable oils
Current Tariff (per cent): up to 45
Upcoming Tariff (per cent): 0

Product: kiwi and pear
Current Tariff (per cent): 33
Upcoming Tariff (per cent): 10 (within quota)

Product: fruit juices and non-alcoholic beer
Current Tariff (per cent): up to 55
Upcoming Tariff (per cent): 0

Product: processed food (bread, pastries, biscuits, pasta, chocolate, pet food)
Current Tariff (per cent): up to 50
Upcoming Tariff (per cent): 0

Product: lamb
Current Tariff (per cent): 33
Upcoming Tariff (per cent): 0

Product: sausage and other meat preparations
Current Tariff (per cent): up to 110
Upcoming Tariff (per cent): 50


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