India-EU Free Trade Agreement: 'Mother of All Deals' on the Horizon

India and the EU have finalised a free trade agreement after 18 years of negotiations, aiming to boost economic ties amid US tariffs. The deal will enhance trade in goods and services, providing opportunities for Indian exporters while ensuring strategic economic partnerships between the two regions.

The long-anticipated India-European Union free trade agreement is set to be announced on January 27, marking a significant milestone in economic diplomacy for both regions. After 18 exhaustive years of negotiations, the pact is finally reaching its conclusion, aiming to bolster economic ties challenged by global tariff disruptions.

Commerce and Industry Minister Piyush Goyal hailed this agreement as the 'mother of all deals' signed by India so far, underscoring its importance. The agreement is expected to facilitate duty-free access for Indian goods within the EU while reducing import duties on European products, enhancing bilateral trade relations.

Key discussions were held between Indian Prime Minister Narendra Modi and European leaders, addressing sensitive sectors such as agriculture and dairy. The agreement, which covers 24 chapters, also aims to foster services trade and investment protection, promoting stronger economic alliances between India and the EU.

(With inputs from agencies.)