India-EU strategic partnership gained decisive new momentum, says Nirmala Sitharaman at Europe Day 2026
Addressing the 2026 Europe Day celebrations in the presence of EU Ambassador Herve Delphin, Sitharaman noted that the summit results indicate a transformative phase in the interaction between the two powers.
“The 16th India-EU Summit held in New Delhi in January 2026 has given a decisive new impetus to our Strategic partnership and taken it to a newer level,” the Finance Minister said in his statement on X. he said.
The Minister emphasized that the signing of the Security and Defense Partnership and the adoption of the Comprehensive Framework for Cooperation on Mobility, as well as the successful conclusion of the India-EU Free Trade Agreement (FTA) negotiations, represent a new chapter in Indo-EU relations.
“The joint roadmap adopted at the summit – ‘Towards 2030: India-EU Joint Comprehensive Strategic Agenda’ provides a clear and ambitious vision for our cooperation in the coming years,” the Ministry of Finance said. he said.
Earlier on Thursday, European Union Ambassador to India Herve Delphin advocated for the inclusion of an investment liberalization chapter in the landmark free trade agreement (FTA) between the two powers. Delphin also called for the rapid conclusion of a separate investment protection agreement to solidify the legal basis for businesses.
The 27-nation bloc and India recently made a breakthrough on January 27 by announcing the conclusion of FTA negotiations, widely considered the “mother of all agreements”. Under the proposed terms, a wide range of Indian products will gain duty-free access to the European market, while Indian consumers can expect price reductions on European luxury vehicles and wines. Currently, both partners are immersed in the legal review of the comprehensive 1,000-page document, which is scheduled to be completed this July. On Thursday, the Ambassador stated that the agreement is expected to be signed within this calendar year, with the implementation date envisaged in early 2027. He emphasized the scale of the partnership, noting that the agreement affects nearly two billion people, representing “a quarter of the global population and a quarter of global GDP”.
The FTA promises a major reduction in trade barriers, with the EU reducing tariffs on more than 99 percent of Indian goods and providing India with improved access to nearly 97 percent of EU exports. “So, on the EU side, we will have European customers benefiting from cheaper products such as Indian textiles, leather, footwear, precious stones, jewellery, tea, coffee, spices, seafood. Indian businesses will also see lower prices on EU industrial goods such as machinery, aircraft or medical equipment,” Delphin said.
