India Secures Free Trade Agreement with EU
"Yesterday (Monday), a significant agreement was reached between India and Europe," Modi said in a virtual address to Indian Energy Week, referring to the conclusion of the FTA negotiations with the EU.
The declaration preceded Modi's discussions with visiting European Commission President Ursula von der Leyen and EU Council President Antonio Costa in the capital New Delhi.
Modi indicated the pact would represent 25% of worldwide GDP and one-third of international commerce.
"People in the world are discussing it as a 'mother of all deals'," he said.
"This is an excellent example of coordination between the two economies of the world," Modi added.
Separately, Indian Commerce Secretary Rajesh Agrawal confirmed Monday that India and the EU had finalized FTA negotiations, with the accord now complete.
The deal is anticipated to receive signatures later this year and could take effect in early 2026, Agrawal noted.
According to the Indian government, the EU remains India's foremost trading partner for merchandise, with bilateral commerce volume hitting approximately $136 billion in 2024-25.
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