Prime Minister Modi’s Announcement: ‘Seal’ on India–Europe Agreement — Duty-Free Access to European Markets on 96.6% of Indian Goods
According to available information, import duties will fall by 44% on machinery, 22% on chemicals and up to 11% on pharmaceutical products.
The agreement is estimated to be worth at least $136 billion.
Current India–EU trade data (2025):
India’s Exports to Europe
Petroleum products – $15 billion
Electronics – $11.3 billion
Organic chemicals – $5.1 billion
Textiles – $4.5 billion
Gems & jewellery – $2.5 billion
Tyres – $890 million
Coffee – $75 million
India’s Imports from Europe
Electronics – $9.4 billion
Aircraft – $6.3 billion
Medical devices – $6.3 billion
Plastics – $2.3 billion
Cars – $2.1 billion
Aluminium – $632 million
This agreement is expected to double India’s exports to the European Union. In addition, increased access to the Indian services market, especially in financial services, maritime services and other key sectors, will open new business opportunities and accelerate job creation.
