India and EU reiterate commitment to conclude free trade agreement by 2025

New Delhi New Delhi: India and the European Union (EU) have reiterated their commitment to complete the Free Trade Agreement (FTA) by the end of 2025. Both sides have spoken of working together to finalize this agreement as soon as possible. This FTA will include reduction in duties, removal of trade barriers and simplification of rules, which will boost trade between the two countries.

This agreement will prove beneficial for both India and the European Union. India will get an opportunity to further strengthen its trade relations with the European Union, which will give new possibilities to Indian exporters. Along with this, access to their products in the Indian market will also increase for the EU countries.

The objective of the FTA is to facilitate trade and promote economic cooperation. This will create a better business environment between the two sides, which will help in the economic growth of both the countries. The government has accelerated the process of negotiations on several issues before the completion of this agreement and plans to finalize it soon.