India, EU To Give Each Other 'Most Favoured Nation' Status For 5 Years - What The Draft Trade Deal Shows

Key Highlights

• India and the EU will grant each other Most Favoured Nation status for five years.
• The trade deal reduces tariffs on 96.6% of EU exports to India and 99.5% of Indian exports to the EU.
• Neither party can offer better tariff terms to other WTO members without reciprocating.
• The agreement includes commitments to align with WTO standards and promote digital trade.
• The EU will support India's initiatives for greenhouse gas reduction.