The trade agreement between the European Union and India will substantially reduce tariff barriers, particularly the frequently prohibitive duties on European and Italian agri-food exports. This applies, for example, to wine, whose current duties will drop from 150% to 75% upon the agreement’s entry into force and then gradually fall to 20%, as well as to olive oil, whose current 45% duty will be eliminated over five years. Given the agreement's impact on Italian businesses, it is anticipated that food and beverage exports will double. To date, trade in agri-food goods between Italy and India has clearly favored India, with a balance of more than 450 million euros. Italy largely imports coffee, tea, spices, frozen fish and shellfish, and rice.