00:00Andra Modi calls her the mother of all trade deals, though it's starting off from a very low base.
00:05Trade between the EU and India stood at 120 billion euros in 2020.
00:10And while the EU is Delhi's largest trading partner.
00:15Accounting for 11.5% of its commerce, India ranks only 9th among the EU.
00:20The EU's trading partners are well behind countries such as the UK, Switzerland and Norway.
00:25European businesses will see a growing economy in the world's most populous nation.
00:30Opening up to them, among the beneficiaries will be Europe's also sector with tariff.
00:35Taxes on car imports from the EU to be slashed from a current 70 or 110%.
00:40Which over time will be reduced to 10.
00:45We'll also be gaining greater access to European markets for its main exports such as text.
00:50We'll see you next time.
00:55India's raw materials is a strategic boon for European countries.
01:00India's raw material is part of Europe's de-risking strategy to avoid over-dependence on trade with China.
01:05And will also provide new options in the uncertain world of Donald Trump's tariffs.
01:10Negotiators will spend several months finessing the details in certain critical areas.
01:15With the final agreements set to be signed by the end of the year.
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