India-EU Free Trade Agreement Progress and Impact on Auto Industry

Union Minister Piyush Goyal announced that India and the EU are committed to finalizing a balanced Free Trade Agreement (FTA) by year-end, which will enhance trade, investment, and innovation in the automotive component sector. The FTA aims to create new opportunities for collaboration and growth, while recent GST reforms are expected to provide significant relief to the auto industry. The Minister emphasized the importance of a fair negotiation process and the potential benefits for both Indian and European businesses.

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