Cyprus chamber of commerce highlights opportunities from EU-India agreement

The Cyprus Chamber of Commerce and Industry (Keve) has announced that the new European Union-India free trade agreement creates significant opportunities for European exporters, including Cypriot businesses in the agri-food and industrial sectors.

Under the agreement, which was completed in January 2026 and is expected to enter into force in the coming years, India’s vast market of approximately 1.45 billion people will become more accessible to European companies.

The chamber stated that the new free trade agreement between the European Union and India is set to create “significant opportunities for EU exporters, including businesses in the agri-food and industrial sectors”.

India was described as one of the largest markets globally, with the agreement offering preferential access for European products.

According to the announcement, tariffs on more than 96 per cent of EU goods exports to India will be reduced or eliminated, providing enhanced access to a major global market.

Moreover, EU exporters are expected to save up to €4 billion annually in tariffs, strengthening their competitiveness under the new framework.

The chamber highlighted that companies, including small and medium-sized enterprises and agri-food producers, will benefit from reduced tariffs on a wide range of products such as olive oil, processed foods, wines and spirits.

It was underlined that strict EU health and food safety standards remain fully in force, ensuring continued consumer protection despite the liberalisation of trade.

The agreement also provides for mechanisms enabling targeted responses to potential market disruptions, offering safeguards in case of adverse effects.

In addition, the framework enhances access in services, strengthens the protection of intellectual property rights and simplifies customs procedures.

The chamber emphasised that the agreement opens new opportunities across multiple sectors, including the agri-food industry, machinery, medical devices, chemicals and other branches of production.

It added that “the stability offered by the deal, combined with the reduction of trade barriers, can significantly improve the access of small and medium-sized enterprises to new markets”.

“Local small and medium-sized enterprises that are active in exports or seeking to expand their export activity, particularly in the agri-food and manufacturing sectors, were encouraged to examine how the new agreement can enhance their competitiveness in the Indian market,” the chamber said.

Finally, the chamber called on businesses to assess the potential benefits of the agreement and consider how preferential access to one of the world’s largest economies could support their long-term growth strategies.