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India Inks Historic USD136B Free Trade Agreement with EU
(MENAFN) A landmark free trade agreement between India and the European Union received formal documentation Tuesday, marking the end of two-decade-long negotiations, according to media.
The documentation ceremony followed high-level discussions in New Delhi between Indian Prime Minister Narendra Modi and European Union leadership, including Ursula von der Leyen and Antonio Costa.
Alongside the trade pact, both parties formalized a security and defense partnership, plus an additional agreement establishing a "comprehensive" mobility framework.
"India today inked its biggest free trade deal with the 27-nation European Union," Modi told reporters.
Rajesh Agrawal, India's Commerce Secretary, confirmed Monday that negotiators from New Delhi and Brussels had reached final terms on the FTA.
The pact is projected to receive official signatures within months, with implementation potentially beginning in early 2026, Agrawal indicated.
The breakthrough ends nearly 20 years of negotiations between the two economic powerhouses.
Government data shows the EU maintains its position as India's top merchandise trading partner, with exchange volumes hitting roughly $136 billion during the 2024-25 fiscal period.
The documentation ceremony followed high-level discussions in New Delhi between Indian Prime Minister Narendra Modi and European Union leadership, including Ursula von der Leyen and Antonio Costa.
Alongside the trade pact, both parties formalized a security and defense partnership, plus an additional agreement establishing a "comprehensive" mobility framework.
"India today inked its biggest free trade deal with the 27-nation European Union," Modi told reporters.
Rajesh Agrawal, India's Commerce Secretary, confirmed Monday that negotiators from New Delhi and Brussels had reached final terms on the FTA.
The pact is projected to receive official signatures within months, with implementation potentially beginning in early 2026, Agrawal indicated.
The breakthrough ends nearly 20 years of negotiations between the two economic powerhouses.
Government data shows the EU maintains its position as India's top merchandise trading partner, with exchange volumes hitting roughly $136 billion during the 2024-25 fiscal period.
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