Trade deal talks with EU wrapped up: Indian commerce secy

India has wrapped up the negotiations for a proposed free trade agreement with the European Union (EU), Indian Commerce Secretary Rajesh Agrawal said today (26 January).

The FTA deal, to be announced formally on 27 January, is "balanced and forward-looking," which will help improve India's economic integration with the EU, the PTI quoted Agrawal as saying.

Agrawal said the deal will come into force sometime next year. "Legal scrubbing of the text will take 5-6 months and formal signing will be done after that.

"Negotiations have been successfully concluded. The deal has been finalised. It will propel trade and investments in both economies," he added.

Indian Prime Minister Narendra Modi will hold a summit meeting with visiting European Council President Antonio Costa and European Commission President Ursula in New Delhi tomorrow.

Leyen and Antonio Costa are now in Delhi and attended India's 77th Republic Day as chief guests.

European Union Trade Commissioner Marcos Sefcovic said the long-awaited agreement could significantly open the Indian market to European firms. 

In an interview with Euro News ahead of the high-level EU-India summit, Sefcovic also described the pact as the "mother of all deals", using Ursula von der Leyen's words. 

The EU market accounts for about 17% of India's total exports and the bloc's exports to India constitute 9% of its total overseas shipments.

India's bilateral trade in goods with the EU was $136.53 billion in 2024-25 (exports worth $75.85 billion and imports worth $60.68 billion), making the EU India's largest goods trading partner. The services trade in 2024 was $83.10 billion.