India and EU to give each other Most Favoured Nation status for 5 years, draft trade deal shows

Feb 27 (Reuters) - The ​European ‌Union and India ​have agreed ⁠to grant each ‌other Most ‌Favoured ‌Nation ⁠status for ⁠a period of five ​years ‌starting from the date of ‌a trade ​deal entering into force, ⁠a draft of ‌the agreement showed on Friday (February 27, 2026).

Read | The India-EU trade deal is also a strategic turning point 

The FTA, finalised after years of negotiations re-launched in 2022, eliminates or reduces tariffs on 96.6% of EU exports to India by value and 99.5% of Indian exports to the EU by trade value.