India–EU summit: Free trade deal announcement expected

• Creates one of the world’s largest free‑trade areas, covering ~2 billion people and nearly 25% of global GDP
• Formal signing to take six ‍months,
• Implementation expected within a year
• EU–India goods trade totals €120 billion ($139 billion) in 2024
• Trade in services added another €60 billion ($69 billion).
• India will cut high import duties on EU goods such as cars and wine.
• EU will ease access for Indian exports, including textiles and pharmaceuticals.
• Deal follows negotiations that began in 2007

India and the European Union (EU) will announce a long-awaited free trade agreement, referred to as “the mother of all deals,” after concluding negotiations that began nearly two decades ago, officials said.

Indian Prime Minister Narendra Modi is due to meet European Commission President Ursula von der Leyen and European Council President Antonio Costa in New Delhi to formalize the pact, which both sides have described as historic.

“Official level negotiations are being concluded and both sides are all set to announce the successful conclusion,” India’s trade secretary Rajesh Agrawal told AFP news agency late on Monday.

“Final negotiations have been focused and fruitful, and we are now very optimistic that we will land this historic trade deal,” an EU official said on Monday.

Both von der Leyen and Costa were feted as guests of honor at India’s Republic Day parade on Monday.

European Union leaders Antonio Costa and Ursula von der Leyen are in New Delhi to co‑chair the India‑EU Summit with Prime Minister Narendra Modi, and they’re expected to unveil a long‑awaited free trade agreement.

The deal has been two decades in the making, and one official even called it the “mother of all deals.”

Negotiations wrapped on Monday, clearing the way for the announcement.

The EU sees India as a crucial future market, while India views Europe as a key source of tech and investment.

Trade already reached €120 billion in 2024, with both sides aiming much higher.

In this blog we’ll explore why this agreement matters so much.