Irish business groups welcome 'historic' EU-India trade deal

Deal will see tariffs either reduced or eliminated on 90% of EU goods

European Council president Antonio Costa with Indian prime minister Narendra Modi and EU Commission president Ursula von der Leyen.

Business groups in Ireland have welcomed the announcement of an EU-India trade deal, after nearly two decades of negotiations, which will see tariffs on 90% of goods exported to India either reduced or eliminated.

The deal will see Indian tariffs on 30% of goods imported from the EU fall to zero immediately, while tariffs will either be eliminated or reduced on 90% of EU exports. The EU Commission estimates EU firms will save up to €4bn a year in duties.