India and EU Seal Historic Free Trade Pact: A Path to Shared Growth
India and the EU have finalized their biggest-ever Free Trade Agreement, marking a historic milestone. The pact aims to enhance investment, innovation, and global supply chain resilience. Leaders emphasized shared democratic values and expanding cooperation in technology, energy, and governance.
Prime Minister Narendra Modi hailed the signing of the India-European Union Free Trade Agreement (FTA) as the largest trade deal in the nation’s history. Concluded on January 27, the pact with 27 EU member states is expected to boost investments, foster innovation partnerships, and strengthen global supply chains.
Speaking at the 16th India-EU Summit alongside EU leaders Ursula von der Leyen and Antonio Costa, Modi described the agreement as a “blueprint for shared prosperity.” The deal was formally exchanged between EU Trade Commissioner Maros Sefcovic and India’s Commerce Minister Piyush Goyal.
The leaders also discussed pressing global issues including Ukraine, West Asia, and the Indo-Pacific, emphasizing the importance of multilateralism and institutional reform. Modi highlighted that India-EU relations, rooted in democratic values and economic synergy, have expanded across areas such as clean energy, digital governance, and strategic technology.
Trade between India and the EU currently stands at €180 billion, with the EU being India’s largest trading partner in goods. For FY 2024-25, bilateral trade reached USD 136 billion, including USD 76 billion in exports and USD 60 billion in imports. Negotiations for this FTA began in 2007, paused in 2013, and were relaunched in 2022 before reaching this landmark conclusion.
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