00:00India and the European Union have finalized a landmark trade deal after nearly two decades of negotiations.
00:07Indian Prime Minister Narendra Modi says the agreement will open up India's vast market to the EU and create opportunities for both economies.
00:19Under the deal, tariffs will be eliminated or reduced on more than 96% of goods,
00:24a move expected to double EU exports to India by 2032 and save EU companies around 4 billion euros in duties.
00:33India will gradually cut tariffs on cars to 10% from as high as 110%, benefiting European automakers such as Volkswagen, Mercedes-Benz and BMW.
00:44While the EU will cut tariffs on almost all goods traded over seven years,
00:48with duties reduced to zero on Indian marine products, textiles, chemicals, rubber and base metals.
00:55Trade between India and the EU reached 136.5 billion US dollars last year.
01:01The deal comes as both India and the EU seek to hedge against uncertainties with the US,
01:07following the collapse of India-US trade talks last year and widening tariff disputes under President Donald Trump.
01:13Medil o움 of commercial and under testament behind the deal who Reagan and the EU ini affiliation of the EU program is at Jordan-US trade twice.
01:21So closed up &开 where he comes from.
01:25I catch up with me now and la tout my name is third-day follicular列 by at Jordan-US trade- leven.
01:30He's in partnership with General Assembly De think.
01:32How about the EU is now?
01:34Okay, you know.
01:34And yes, I thought this is what I did.
01:36But I assume so we want to send you the assets to the EU move.
01:38So excellent, the money is yours start saying this message very soon.
01:39Yes.
01:39Where can I tell you, the purpose of India-Uspask podemos também,
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