On January 27, 2026, India and the European Union announced the conclusion of nearly two decades of negotiations on a historic Free Trade Agreement (FTA), hailed by leaders as transformative for global commerce. Indian Prime Minister Narendra Modi, European Council President Antonio Costa and European Commission President Ursula von der Leyen attends a joint press statement at the Hyderabad House in New Delhi, India, January 27, 2026 The agreement  often dubbed the “mother of all trade deals”will cut or eliminate tariffs on about 96.6 % of goods traded between India and the EU by value, op

On January 27, 2026, India and the European Union announced the conclusion of nearly two decades of negotiations on a historic Free Trade Agreement (FTA), hailed by leaders as transformative for global commerce.

Indian Prime Minister Narendra Modi, European Council President Antonio Costa and European Commission President Ursula von der Leyen attends a joint press statement at the Hyderabad House in New Delhi, India, January 27, 2026

The agreement  often dubbed the “mother of all trade deals”will cut or eliminate tariffs on about 96.6 % of goods traded between India and the EU by value, opening markets worth billions of dollars. European exporters could save around €4 billion annually in duties, and trade between the partners is expected to double by 2032. Under the pact, India will reduce import duties on European cars from historically high levels (up to 110 %) to as low as 10 % over a phased period, with quota conditions, boosting access for brands like Volkswagen and BMW. Tariffs on wine and spirits previously as high as 150 % will fall dramatically to around 20–40 %, and duties on textiles, leather, chemicals and other industrial goods will be significantly cut or eliminated.

The FTA also includes expanded cooperation in services, digital trade, and regulatory standards. Formal signing and implementation are expected after legal review and ratification by EU institutions and India later in 2026–2027.   Source : Reuters

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