India-US Trade
India to have 3 trade deals covering most of Europe in 2 months, says Goyal
This story was originally published at 19:55 IST on 10 June 2025
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NEW DELHI – India will have three trade agreements with different regions in Europe, covering most of the continent, in a month or two, Commerce and Industry Minister Piyush Goyal said in Switzerland Tuesday. He was referring to pacts with the European Union, the European Free Trade Association, and the UK.
India has already signed a deal with the European Free Trade Association and is awaiting its ratification by all the members of the association. The UK and India have concluded negotiations for a free trade agreement and are currently engaged in legal scrubbing of the text. The negotiations with the European Union are at an advanced stage and Goyal said he expects them to be concluded by the end of the year.
The minister said India expects the deal with the free trade association to come into effect in the latter half of 2025. He expects the deal with the UK to be ratified by both countries in a year.
The three agreements will cover 32 of the 44 countries in Europe. India's trade with these 32 countries accounted for 85% of its total trade worth $215.26 billion with Europe in the financial year 2024-25 (Apr-Mar), according to the data available with the commerce ministry. End
US$1 = INR 85.60
Reported by Krity Ambey
Edited by Rajeev Pai
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