India and the European Union (EU) have agreed to sign a free trade agreement by the end of 2025. Leaders from both sides met recently and promised to speed up the talks. They want to finish all discussions and complete the deal within the next two years.
A free trade agreement helps countries trade goods and services without high taxes or limits. It also makes it easier for companies to do business in each other’s countries. India and the EU started these talks many years ago, but they faced delays and disagreements. Now, both sides have shown strong interest in moving forward.
The leaders discussed several key issues during their meeting. They talked about reducing import duties, protecting investments, and supporting digital trade. They also focused on solving past problems and finding fair solutions for both sides.
The Indian government said that the deal will help Indian businesses sell more products in Europe. It will also help Indian workers find more jobs in sectors like textiles, engineering, and information technology. The EU said the agreement will give European companies better access to India’s growing market, which has over 1.4 billion people.
Both sides agreed to hold regular meetings and send teams to speed up the process. They also decided to involve industry experts and trade bodies to help shape a fair and balanced agreement.
The EU is one of India’s biggest trading partners. In recent years, trade between the two reached over $130 billion. With this new agreement, both sides expect trade to grow even more. It will also strengthen their political and economic relationship.
The Indian and EU leaders believe this deal can create jobs, boost exports, and bring more investment. They also want to make the deal fair for small businesses and protect the environment.
If India and the EU stay on track, they will sign the final agreement by the end of 2025 and create new opportunities for people and businesses on both sides.