"Major agreement reached after 20 years of negotiations and during ongoing tensions with the US. New Delhi, India India and the European Union have signed a free trade agreement that both sides have hailed as the mother of all deals. The agreement, announced on Tuesday, came together over nearly two decades of intermittent negotiations and during a geoeconomic crisis triggered by United States President Donald Trump's trade war."
"The deal between India and the 27-nation EU covers about 2 billion people and represents a combined market of nearly $27 trillion and about 25 percent of the global gross domestic product (GDP). European Commission President Ursula von der Leyen and European Council President Antonio Costa joined Indian Prime Minister Narendra Modi in New Delhi on Monday as honorary guests for Republic Day and its annual military parade."
"This agreement will bring major opportunities for the people of India and Europe, Modi said while addressing an energy conference virtually on Tuesday before an India-EU summit. Europe and India are making history today, von der Leyen wrote in a post on X. We have created a free-trade zone of two billion people, with both sides set to benefit. We will grow our strategic relationship to be even stronger."
India and the European Union finalized a free trade agreement after nearly 20 years of negotiations and amid geoeconomic tensions initiated by U.S. trade actions. The agreement covers goods, services, and investments across the EU customs union and establishes a combined market of about two billion people and nearly $27 trillion in GDP. Senior EU and Indian leaders met in New Delhi during Republic Day events. The deal is expected to significantly reduce tariffs and to address trade shifts after the EU withdrew GSP benefits for India in 2023. An EU-India security and defence partnership was also signed on January 27, 2026.
Read at www.aljazeera.com
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