India and European Union Sign Biggest Free Trade Agreement |

Описание: Hi, welcome to Deaf Talks news.
Yesterday, India and the European Union finalized a Free Trade Agreement.
Prime Minister Modi said, today, India has completed the largest discussion free trade agreement after 18 years.
European Union President António Costa was present with him.
The agreement is worth 213 billion US dollars.
What is Free trade ? let me explain.
For example : If a European company wants to start in India they can apply to the government, get approved with less taxes.
Currently, foreign cars face 70% to 110% import tax in India.
After the agreement India plans to reduce import tax by 40%.
This will reduce prices of European cars like BMW, Mercedes-Benz, Volkswagen and Renault.
Import tax on wine will be reduced significantly.
Wine imported from European countries will become cheaper.
Medicines and medical equipment from Europe will become cheaper.
Cancer treatment medicines may cost less.
Indian-made medicines can be exported to Europe.
High-technology products and electronics will become cheaper.
Aircraft spare parts will cost less.
India will export more clothes, leather goods, and jewellery to Europe.
Indian businesses will benefit from better market access.
This free trade agreement will increase trade.
Consumers will benefit from lower prices.
India’s economy is expected to grow stronger.
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