India and the European Union are set to announce a landmark free trade agreement, described by leaders on both sides as the most significant in India’s recent economic history, after nearly two decades of negotiations. The deal, expected to be unveiled at the India–EU summit in New Delhi, will open India’s vast market to deeper engagement with the 27-nation European bloc, which together with India accounts for roughly 25 % of global GDP and about 2 billion consumers.
The agreement, often dubbed the “mother of all trade deals,” aims to slash tariffs on a wide range of goods and unlock significant new opportunities for trade and investment on both sides. Indian officials have pledged tariff cuts in key areas including automobiles and industrial goods, while European exporters anticipate improved access for products such as machinery, chemicals, and wine.
Leaders from India and the EU have emphasized that this pact will not only boost economic growth and job creation but also strengthen strategic cooperation amid a shifting global trade landscape marked by rising protectionism and geopolitical tensions. The formal effectiveness of the agreement will depend on subsequent legal reviews and ratification processes in both the EU and India, with implementation expected within the next year.
News as reported
