PM Modi announces signing of India-EU Free Trade Agreement

New Delhi: India and the European Union are set to announce what has been described as the "Mother of all deals" on Tuesday (January 27) at the 16th India-EU summit, marking the successful conclusion of long-drawn negotiations between the two sides. The summit will be co-chaired by Prime Minister Narendra Modi along with the President of the European Council, Antonio Luis Santos da Costa, and the President of the European Commission, Ursula von der Leyen. Meanwhile, addressing the opening ceremony of India Energy Week 2026, PM Modi a "big agreement" was signed between the European Union and India, which people are calling this the mother of all deals. "This agreement will bring major opportunities for the public in India and Europe. This is a perfect example of a partnership between two major economies of the world...This agreement represents 25 per cent of the global GDP and 1/3rd of global trade," he said. 

Together, India and the EU account for nearly one-fifth of global trade and about 25 per cent of the world's population, underscoring the growing economic and strategic significance of the partnership. At the EU-India summit scheduled for Tuesday, leaders from both sides are expected to adopt a joint comprehensive strategic agenda and discuss trade in the context of the ongoing free trade agreement negotiations, which were first launched in 2007 and relaunched in 2022 and concluded on Monday.

President of the European Council, António Luís Santos da Costa, and President of the European Commission, Ursula Von Der Leyen, meet Prime Minister Narendra Modi at the Hyderabad House in Delhi.

President of the European Council, António Luís Santos da Costa, and President of the European Commission, Ursula Von Der Leyen, laid a wreath at the Rajghat and pay floral tributes to Mahatma Gandhi.

Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade. Addressing the Indian Energy Week virtually, Modi congratulated all on the EU-India trade deal and said, "I am informing you about a big development … a significant agreement was signed between India and Europe yesterday (Monday)."

People are discussing it as a "mother of all deals", and this agreement has brought a lot of opportunities for 140 crore Indians and crores of Europeans, he said. "This is an excellent example of coordination between two economies of the world. This agreement represents 25 per cent of the global GDP and one third of the global trade," he said.

Prime Minister Narendra Modi said, "Manufacturing will get a huge boost from this trade deal with the EU, and the services sector will also expand. The Free Trade Agreement will boost the confidence of every investor and businessman to invest in India."