- India and the European Union will refrain from implementing new import-export restrictions beyond World Trade Organization rules, and will eliminate consular requirements under a proposed free trade agreement for goods, according to a draft text.
- India and the European Union are nearing a free trade agreement (FTA), with a draft text indicating commitments to avoid new import-export restrictions beyond WTO rules.
- The EU recently ended tariff preferences on 87% of Indian goods exports, which previously allowed lower-than-MFN tariffs.
- The FTA proposes eliminating consular requirements for goods and granting Most Favored Nation (MFN) treatment for five years after implementation.
- MFN status, a non-discriminatory trade policy, means both parties will apply standard duties to each other's goods.
- Implementation of the FTA, even after signing, may take a year or more.
India and the European Union will refrain from implementing new import-export restrictions beyond World Trade Organization rules, and will eliminate consular requirements under a proposed free trade agreement for goods, according to a draft text. India and the EU will grant most-favored-nation treatment for five years after the pact enters into force, the draft text shows.
Feb 27, 2026, 4:34:35 PM UTC(5 hours ago)
Impact: MediumAffected Assets
Sources
From:@DeItaone
INDIA, EU TO BAR NEW IMPORT-EXPORT CURBS BEYOND WTO RULES, SCRAP CONSULAR REQUIREMENTS UNDER PROPOSED FTA GOODS PACT - DRAFT TEXT SHOWS
INDIA-EU TO GRANT MOST-FAVOURED-NATION TREATMENT FOR FIVE YEARS AFTER PACT ENTERS INTO FORCE - DRAFT TEXT SHOWS
