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India Aims for Free Trade Deals with UK, EU by 2025

5/2/2025

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Summary

Goyal Pursues Trade Agreements

India's Commerce Minister Piyush Goyal is on a mission to secure free trade agreements with the UK and EU by the end of 2025, targeting lower tariffs and tackling non-tariff barriers. At the same time, India is strengthening trade ties with the US, Australia, and New Zealand, aiming to amplify its influence in the global economy.

Summary

Trump Advances Trade Deal

U.S. President Donald Trump is feeling hopeful about sealing a trade deal with India, highlighting positive progress in negotiations. Treasury Secretary Scott Bessent emphasized that India could be the first to finalize an agreement after recent tariff adjustments, aiming to lower steep tariffs and boost market access for American exports.

History

Historical Context

India's push for free trade agreements with the UK and EU mirrors its post-Cold War "Look East" policy, initiated in the 1990s. This strategy aimed to enhance trade ties with Southeast Asia, reflecting a broader shift towards economic liberalization and global integration, which continues to shape India's foreign relations today.

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Goyal Pursues Trade Agreements

India's Commerce Minister Piyush Goyal is on a mission to secure free trade agreements with the UK and EU by the end of 2025, targeting lower tariffs and tackling non-tariff barriers. At the same time, India is strengthening trade ties with the US, Australia, and New Zealand, aiming to amplify its influence in the global economy.

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