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India and EU sign the deal of the century

2026-01-27 20:03:13Kosova&Bota SHKRUAR NGA REDAKSIA VOX
India and EU sign the deal of the century
India and EU sign historic agreement

The European Union and India have announced a historic trade deal after nearly two decades of stalled talks, as both sides aim to deepen their ties amid tensions with the United States.

“We have achieved, we have delivered the mother of all agreements,” European Commission President Ursula von der Leyen said at a news conference in Delhi. Indian Prime Minister Narendra Modi called the pact “historic.”

As the BBC writes, the agreement will allow free trade in goods between the bloc of 27 European countries and the world's most populous country, which together account for almost 25% of global gross domestic product and a market of two billion people.

The agreement will bring major tariff reductions on a wide range of goods and services, as well as a joint security partnership.

Von der Leyen and European Council President António Costa are in Delhi, where they met with Modi at a bilateral summit.

The European Commission said it would eliminate tariffs on most exports of chemicals, machinery and electrical equipment, as well as aircraft and spacecraft. In particular, taxes on vehicles, currently up to 110%, will be cut to 10% under a quota of 250,000 vehicles. That is six times the quota of 37,000 units that India granted the United Kingdom in a deal signed last July.

India will also reduce tariffs on wine, beer and olive oil from the EU. Brussels said the deal will support investment flows, improve access to European markets and deepen supply chain integration.

Delhi said almost all of its exports will receive "preferential access" to the EU, with textiles, leather, marine products, handicrafts, precious stones and jewellery set to see tariff reduction or elimination.

While products such as tea, coffee, spices and processed foods will benefit from the deal, Delhi "has carefully protected sensitive sectors, including dairy, cereals, poultry, soybean meal, some fruits and vegetables, balancing export growth with domestic priorities," he said.

Delhi and Brussels have also agreed on a mobility framework that eases restrictions on professionals travelling between India and the EU in the short term.

“This is India’s largest free trade agreement,” Modi said. “It will make it easier for Indian farmers and small businesses to access European markets. It will also boost the manufacturing and services sectors. It will strengthen innovative partnerships.”

The agreement comes as both India and the EU are facing economic and geopolitical pressure from the US.

Delhi is facing 50% tariffs imposed by President Donald Trump last year, amid talks for a trade deal between India and the US that are still dragging on.

Last week, Trump threatened to escalate the trade war with European allies over opposition to a US purchase of Greenland, before backing down.

The EU is India's largest trading partner for goods, with bilateral goods trade reaching $136 billion (£99.4 billion) in 2024-25, nearly doubling over a decade.

Negotiations for an agreement began in 2007 but were suspended in 2013 due to market access barriers and regulatory requirements. Discussions officially resumed in July 2022.


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