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10.09.202505:49:04UTC+00India, EU Race to Seal Trade Pact by Year-End

India and the European Union are engaging in pivotal trade discussions in New Delhi this week, with the goal of finalizing an agreement by the end of the year, according to a report by Reuters. These negotiations, which were revitalized in 2022, have gained momentum following the decision by U.S. President Donald Trump to increase tariffs on Indian products last month due to India's procurement of Russian oil. This move has adversely affected exports including textiles and chemicals. Concurrently, the European Union, which has also been impacted by Trump's tariffs, is actively pursuing trade alliances globally. Currently, 11 out of the 23 negotiation chapters have reached consensus, although disagreements persist regarding sectors such as agriculture, automotive, alcohol, food safety, and labor and environmental standards.

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