Historic India-EU Free Trade Agreement Set to Transform Markets by 2026

Commerce Minister Piyush Goyal announced the conclusion of the India-EU free trade agreement, expected to be implemented by 2026. The pact will grant 93% of Indian exports duty-free access to the EU, enhancing trade between the two regions and opening investment opportunities, benefiting industry sectors in both regions.

On Tuesday, Commerce Minister Piyush Goyal announced that the landmark India-EU free trade agreement is set to be implemented within the calendar year of 2026. This follows the completion of negotiations for what is being heralded as the 'mother of all deals,' marking a significant milestone in international trade relations.

The agreement ensures 93% of Indian exports will have duty-free access to the 27-nation European Union, while luxury imports from Europe, such as cars and wines, will become more affordable in India. This monumental pact, concluded after two decades of negotiations, is poised to create a market for 2 billion people, harnessing the combined economic strength of India and the EU.

Piyush Goyal emphasized the deal's balanced nature, describing it as a win-win for industries in both regions, with the potential to boost investment avenues. India, which now counts the EU as its 22nd FTA partner, continues to strengthen global trade ties, having entered agreements with countries like Mauritius, the UAE, the UK, and others since 2014.