India expanded its trade agreements with the European Union, New Zealand, European Free Trade Association, Canada, and United States in 2026

India expanded its trade agreements with the European Union, New Zealand, European Free Trade Association, Canada, and United States in 2026

¨     India expanded its trade agreements with the European Union, New Zealand, European Free Trade Association, Canada, and United States in 2026.

¨     These agreements support India’s long-term goal of becoming a $30 trillion economy by 2047.

¨   A Free Trade Agreement (FTA) is a treaty that reduces or eliminates customs duties on goods and may also improve access for services, investment, and markets.

¨     India and the European Union signed an FTA on 27 January 2026 after nearly two decades of negotiations.

¨     The India–EU FTA provides immediate duty-free access to 70.4% of Indian tariff lines.

¨  It covers more than 90.7% of India’s export value to the EU, with duty-free access expected to rise to 99% after full implementation.

¨     India and New Zealand signed an FTA on 27 April 2026.

¨     The agreement grants Indian exporters full duty-free access to the New Zealand market.

¨     India will liberalize tariffs on about 70% of tariff lines, covering 95% of bilateral trade.

¨     The India–European Free Trade Association Trade Agreement includes Switzerland, Norway, Iceland, and Liechtenstein.

¨     EFTA has committed to facilitate $100 billion in investments in India over 15 years.

¨     The agreement is expected to create 1 million direct jobs in India.

¨     India and Canada launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) on 2 March 2026.

¨     The two countries have set a target of US$50 billion in bilateral trade by 2030.