Landmark EU-India trade agreement will strengthen growth and jobs – Lynch

The free trade agreement between the European Union and the Republic of India, is one of the most significant trade milestones in decades, a Fine Gael Senator has said.

The conclusion of nearly 20 years of negotiation paves the way for dramatically expanded economic cooperation between the EU and India — a combined market of more than 2 billion consumers and nearly 25% of global GDP.

Senator Lynch said: “This historic agreement is a major win for Ireland, for the European Union, and for businesses and workers across our economies. This deal delivers real opportunities for Irish exporters, investors and workers. Over 93% of tariff will be abolished on goods, which could double EU exports to India.

“Irish and EU industries — including agri-food, spirits, machinery, chemicals, pharmaceuticals, automotive and technology sectors — will gain preferential access to India’s rapidly expanding market. This includes reduced tariffs on products such as Irish whiskey and wine, already welcomed by industry groups here in Ireland. This agreement does not come at the expense of food standards and sensitive sector such as beef and poultry are excluded.”

The deal also improves conditions for trade in services and investment, supporting Ireland’s strong export sectors, such as professional services, fintech, and ICT.

“In a rapidly shifting global economy, it is vital that the EU diversifies its trading relationships and deepens economic ties with key global partners.

“Ireland’s exporters, particularly in sectors where we excel — such as agri-food, life sciences and tech — stand to benefit from expanded access to India’s economy. This agreement will help create a more resilient and prosperous future for our people. It will create the world’s largest free trade area.”

The EU–India trade agreement will undergo ratification by the European Parliament and India’s legislative bodies before entering into force in the coming year. Senator Lynch pledged to continue working with colleagues in the Oireachtas and the European Parliament to ensure Ireland’s interests are fully represented throughout the implementation process.