📋 Tender Overview
Economics Minister Dr. Nicole Hoffmeister-Kraut welcomes the fundamental agreement between India and the European Commission on a free trade agreement. Regarding the news about the agreement on an External: Free trade agreement between the European Union (EU) and India (Opens in new window) says Dr. Nicole Hoffmeister-Kraut, Minister for Economic Affairs, Labor and Tourism: The fundamental agreement between India and the EU Commission on a free trade agreement is good news for our companies. With around 1.4 billion inhabitants, the agreement opens up new market and sales opportunities that our companies urgently need in the current situation, says Economics Minister Dr. Hoffmeister herb. Competitive conditions and sales opportunities are improving With a trade volume of around 4.2 billion euros, India is already an important trading partner for Baden-Wurttemberg companies. The agreement is particularly important for the External: Mechanical engineering (opens in new window), which accounts for almost 38 percent of Baden-Wurttembergs exports to India and is currently under considerable competitive pressure as a key industry. The previously high tariffs of up to 44 percent for machinery are intended to be largely eliminated by the agreement. The tariffs for combustion vehicles are also to be significantly reduced from currently up to 110 percent. The trade agreement therefore noticeably improves the competitive conditions for our companies and increases sales opportunities in this rapidly growing market. I also very much welcome the announced tariff reductions in the areas of medical products, external: chemicals (opens in new window) and external: aerospace (opens in new window). But India is much more than just a large and interesting sales market. India is a dynamic and innovative growth market that offers great potential for the development of new products and as a technology partner. And India is a values and cooperation partner with whom we work together in trust on numerous global challenges such as External: international climate protection (Opens in new window). I was able to convince myself of this again during my delegation trip to Delhi, Pune and Mumbai last year, the minister underlined the strategically important importance of India. Baden-Wurttemberg is traditionally closely linked to India The great importance of the free trade agreement was also a topic in my political discussions with representatives of the federal government and the government of our partner province of Maharashtra. Baden-Wurttemberg is traditionally closely linked to India and the relationship is maintained at all levels. I very much hope that the next steps will now also be initiated promptly at the European level and that there will be no further delays on the way to ratification, emphasizes the Minister of Economic Affairs.
