India and EU announce trade deal

January 28, 2026

TL;DR

India and the European Union have finalized a trade deal at a summit in New Delhi.
The agreement is described as "the mother of all deals" and is expected to boost innovation and enhance cooperation.
It will create a free trade zone for 2 billion people, benefiting both India and the EU.
The deal is expected to cut duties on over 90% of EU goods to India and could save member nations up to €4 billion in taxes.
India will slash tariffs on cars to 10% over five years from as high as 110%.
Tariffs will be slashed on 99.5% of goods traded by the trade bloc over seven years.
The EU will eliminate tariffs on marine goods, leather and textile products, chemicals, rubber, base metals, gems, and jewelry from India.
Bilateral trade between India and the EU reached approximately $136 billion in 2024-25.
The EU and India also signed a security and defense partnership.
The 17th India-EU Summit will be held in Brussels next year.

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