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In a landmark 16th India-EU Summit held in New Delhi, Prime Minister Narendra Modi, alongside European Council President Antonio Costa and European Commission President Ursula von der Leyen, announced the conclusion of the India-EU Free Trade Agreement (FTA). Prime Minister Modi described the pact as 'a new blueprint for shared prosperity' and the largest trade agreement in India's history, coinciding with the 27th of the month and the 27 nations of the EU. The summit also marked the launch of a first-ever Security and Defence Partnership to enhance cooperation in maritime security, counter-terrorism, and cyber threats. President Costa, noting his personal roots in Goa, emphasized the strategic trust between the two largest democracies. President von der Leyen hailed the deal as the 'mother of all deals,' creating a market of 2 billion people. The leaders also signed a Comprehensive Framework on Mobility to benefit students and professionals, and launched the 'Towards 2030' strategic agenda to guide bilateral ties.

During a high-level joint press statement, India and the European Union solidified their bilateral ties through the signing of several transformative agreements. The ceremony, attended by Prime Minister Narendra Modi, European Council President Antonio Costa, and European Commission President Ursula von der Leyen, marked the 'Political Declaration on Conclusion of Negotiations of the India-EU Free Trade Agreement'. Other significant pacts included the India-EU Security and Defence Partnership and a Comprehensive Framework on Cooperation on Mobility. The speaker noted, 'These documents reflect the wide-ranging multifaceted bilateral cooperation as part of the India-EU Strategic Partnership.' The session also saw the exchange of documents regarding disaster risk management, a Green Hydrogen Task Force, and cooperation between the Reserve Bank of India and the European Securities and Market Authority. A new strategy document titled 'Towards 2030, a joint India-European Union comprehensive strategic agenda' was also announced to guide future cooperation.

On this Special Report, Geeta Mohan covers the landmark announcement of the Free Trade Agreement (FTA) between India and the European Union. Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President António Costa convened to signal the conclusion of the pact, which von der Leyen described as the 'mother of all deals'. The agreement aims to streamline trade across 27 member states, focusing on supply chain resilience and reducing tariffs. A significant highlight for Indian consumers is the expected price relief on luxury car imports from brands like Mercedes, BMW, and Audi, though electric vehicles are currently excluded from these benefits. The report notes that while the political conclusion is reached, legal scrubbing and approval from the European Parliament will follow. National Security Advisor Ajit Doval and External Affairs Minister S. Jaishankar were also present, highlighting the strategic depth of this partnership amidst global economic upheavals and the need for alternative supply chains.

On this Special Report, Foreign Affairs Editor Geeta Mohan provides an exclusive breakdown of the landmark India-EU Free Trade Agreement. The deal, described as the 'mother of all deals' by Ursula von der Leyen, is expected to double European Union exports to India by 2032. Geeta Mohan notes that 'tariffs of up to 44% on machinery, 22% on chemicals, 11% on pharmaceuticals will be mostly eliminated' as part of the negotiations. The agreement aims to eliminate tariffs on 90% of EU surgical, optical, and medical tools, as well as aircraft and spacecraft. Mohan highlights that India has maintained its 'red lines' by keeping the dairy sector out of the deal to respect local sensitivities. The report also discusses the strategic implications of the deal as a move to reduce dependence on China and its reception by the United States, specifically mentioning Treasury Secretary Scott Bessent's observations on the evolving trade dynamics.