India-EU Trade Pact: A New Era of Economic Partnership

India and the European Union have concluded negotiations on a landmark free trade agreement, offering duty-free access to 93% of Indian exports to the EU. The deal, set to take effect in 2026, will open a vast market, improve competitiveness for Indian goods, and foster shared prosperity.

In a historic move, India and the European Union have finalized negotiations for a free trade agreement that could redefine global economic landscapes. Dubbed the 'mother of all deals', this pact will grant duty-free access to 93% of Indian goods entering the EU.

The negotiations, which spanned nearly two decades, promise to create a colossal market, integrating India's robust economy with the EU, the world's second-largest economic bloc. Together, India and the EU account for a quarter of the global GDP and a third of international trade.

Prime Minister Narendra Modi emphasized the strategic impact of the agreement, highlighting enhanced opportunities for Indian exports and unprecedented market access in the $20 trillion EU market. The deal is projected to boost India's textile exports and encourage mutual economic growth.

(With inputs from agencies.)