Rushali Saha
On January 27, India and the European Union concluded free trade agreement (FTA) negotiations. Both European Commission President Ursula von der Leyen and India’s Trade Minister Piyush Goyal have described it as the “mother of all deals,” highlighting its significance. This is the largest trade agreement that both the EU and India have ever concluded.
As part of the agreement, the EU will eliminate tariffs on over 90 percent of tariff lines and 91 percent in terms of value. Both sides agreed to partially liberalize a significant additional number of lines, effectively bringing the overall coverage of trade liberalization to 96.6 percent for India and 99.3 percent for the EU. It is expected to double EU exports to India by 2032. India, on its part, has secured preferential access to the European markets across 97 percent of tariff lines, covering 99.5 percent of trade value.
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