By Admin 
The Free Trade Agreement (FTA) between India and the European Union (EU) has finally been completed on 27 January 2027. It is being called ‘Mother of All Deals’. Expressing happiness over this, Union Commerce and Industry Minister Piyush Goyal said, ‘I want to congratulate 140 crore Indian brothers and sisters. This is much more than FTA. This is an announcement of a deep partnership. India and EU will come together in many areas and work for a better future. This visit will prove to be a game-changer in the strategic partnership between India and EU and will bring change.
One third of the world’s population will benefit
Piyush Goyal said that this agreement is not limited to trade only. This is a sign of the strong partnership between the two sides, which account for 25% of global trade. This will increase defense cooperation. There will be a lot of investment. Cooperation in innovation and science will increase. There will be further integration in financial markets. This will create shared prosperity and a better future for one-third of the world’s population.
Piyush Goyal called it a ‘difficult journey’ and said that it is much bigger than FTA. This is extremely beneficial for the 1.4 billion people of India. Especially labour-intensive sectors like textile, agriculture and MSMEs will get easy access to the European market.
FTA signed in 16th India-EU Summit
The agreement was announced at the 16th India-EU Summit, where Prime Minister Narendra Modi, EU Commission President Ursula von der Leyen and EU Council President Antonio Costa were present. European leaders participated as chief guests in the Republic Day parade.
What benefits will we get from FTA?
- 97% tariff on goods coming to India from EU will be reduced or eliminated.
- Up to 99% tariff exemption will be available on goods going from India to EU.
- There will be big relief on cars, wine, chocolate, pasta, medicines and car parts etc.
- Trade will increase on both sides, jobs will come and economies will strengthen.
This deal has been done after almost 18 years of long negotiations and is considered to be India’s biggest FTA. Piyush Goyal said that it is win-win (beneficial for both) and is expected to be implemented soon.