Now Reading: India-EU FTA legal scrubbing done, signing likely by year-end
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India-EU FTA legal scrubbing done, signing likely by year-end
Legal scrubbing of the India-European Union Free Trade Agreement has been completed, government sources said, and signing is expected before the end of 2026. Internal approvals and translation processes are currently underway…
Legal scrubbing of the India-European Union Free Trade Agreement has been completed, government sources said, and signing is expected before the end of 2026. Internal approvals and translation processes are currently underway on the EU side. The FTA was jointly announced by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen during the 16th India-EU Summit in January 2023.
India and the EU together account for about 25% of global GDP and nearly one-third of global trade. In 2024-25, bilateral trade in goods between India and the EU stood at Rs 11.5 lakh crore (USD 136.54 billion). India's exports to the EU were valued at Rs 6.4 lakh crore (USD 75.85 billion), while imports stood at Rs 5.1 lakh crore (USD 60.68 billion). Trade in services between the two reached Rs 7.2 lakh crore (USD 83.10 billion) in 2024.
Negotiations for the deal resumed in 2022 after years of discussions. Government sources said both sides remain committed to completing the remaining formalities for signing the trade agreement by the end of 2026.
Indian Opinion Analysis
This announcement signals the final stretch of a negotiation process that has been on and off since 2007. The completion of legal scrubbing is the technical equivalent of a clean chit on the text, leaving only political approvals and translations. The real test will be whether the EU can finish its internal ratification by year-end, given that 27 member states must sign off. For India, the deal promises better access for goods such as textiles and pharmaceuticals, but the EU is equally focused on binding commitments on data security and labour standards. Watch for the text to be released ahead of the signing, as that will reveal who yielded on what.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
