India and European Union have closed a 'landmark' free trade deal, Prime Minister Modi says

January 27, 2026

TL;DR

India and the European Union have finalized a free trade agreement.
The deal creates a market of 2 billion people and is seen as a "landmark" agreement.
It is expected to benefit Indian sectors like textiles, gems and jewelry, and leather.
The agreement aims to strengthen trade ties amidst rising geopolitical tensions.
Trade talks were relaunched in 2022 and the deal took nearly two decades to finalize.
Goods traded between India and the EU in 2024 amounted to over 120 billion euros.
India's top exports to the EU include machinery, chemicals, and textiles.
The EU's main exports to India include machinery, transport equipment, and chemicals.
This is India's fourth major trade deal since the U.S. imposed tariffs.

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