Mercosur and India agreed on initiating negotiations for the expansion of the coverage of the preferential trade agreement between them, which came into effect in 2003.
The agreement currently in effect grants tariff concessions on only 450 products within the tariff universe, leaving significant room to expand its coverage, not only to more goods but also to other sectors. In this regard, Brazil, as the pro tempore president of Mercosur, emphasized its willingness to strengthen economic ties with India, expressing the expectation that this agreement will serve as a key instrument to achieve that goal.
