India Eyes Landmark Trade Deal with EU by Year's End

India plans to finalize a free trade agreement with the European Union by the end of the year. This effort coincides with strengthening ties with Cyprus, a potential entry point to Europe, as part of a broader trade initiative amidst Middle East tensions.

India aims to conclude a significant free trade agreement with the European Union by year's end, announced Prime Minister Narendra Modi on Monday. Cyprus, slated to assume the EU presidency in 2026, has expressed prioritizing improved relations.

During an official visit to Cyprus, Modi emphasized expanding economic ties and discussed India's global trade agenda, revealing plans for finalizing the India-EU trade agreement. Mod emphasized the unlimited potential in building economic connections with Cyprus, a Commonwealth partner.

Amid tensions in the Middle East, India is progressing on its ambitious India-Middle East-Europe Corridor by sea and rail. Cyprus could become a strategic transshipment hub, enhancing its trade role as the country prepares for its EU presidency.

(With inputs from agencies.)