EU FTA will strengthen trade diversification and market access, with long-term credit benefits hinging on effective implementation and regulatory reforms.

India has shed import duties on European cars, opening its long-protected auto industry from global competition.

“The European Union and India’s free trade agreement should be a wake-up call in Washington,” said Rodrigo Balbontin, associate director for trade, intellectual property, and digital technology governance at ITIF. He said the United States is being left “on the sidelines” as other countries cut tariffs and set new trade rules.

By Shivangi Acharya and Aditi Shah NEW DELHI, Jan 28 (Reuters) - India will immediately slash duties on high-end European cars to 30% from as high as 110% under its new trade deal with the EU, an official said,