India signs the “mother of all deals” with the European Union after 20 years of negotiations
Indian Prime Minister Narendra Modi announced today, Tuesday, that India and the European Union had concluded a historic trade agreement, as part of the two sides’ efforts to hedge against fluctuations in relations with The European Union, which includes 27 countries, is its largest trading partner.
Modi said: "Yesterday, an important agreement was signed between the European Union and India". He added: "The world describes it as the mother of all deals. This agreement will create huge opportunities for 1.4 billion people in India and millions of people in Europe"
Modi and European Commission President Ursula von der Leyen are expected to issue a joint statement at the India-EU summit in New Delhi, containing details of the agreement, later on Tuesday.
The volume of trade exchange between India and the European Union reached US$136.5 billion in the fiscal year ending March 2025.
This agreement comes days after the European Union signed a pivotal agreement. With the Mercosur bloc in South America, following last year’s agreements with Indonesia, Mexico and Switzerland.
This series of agreements highlights global efforts to hedge against the United States, in light of President Donald Trump’s push to annex Greenland and his threats to impose Tariffs on European countries, which constitutes a test of the established alliances between Western countries.
Trump had imposed 50% tariffs on Indian goods, and a trade agreement between India and the United States collapsed last year after communication between the two governments deteriorated.
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