India, EU conclude trade deal talks; agreement set to be announced tomorrow | India News

India and the European Union have completed negotiations on the proposed Free Trade Agreement (FTA), Commerce Minister Rajesh Agrawal said in New Delhi on Monday. The deal will be officially announced on Tuesday. The Commerce Minister stated that the agreement is balanced and future-oriented for India and said that it will deepen India’s economic relationship with the EU.

Agrawal stated that the agreement is currently undergoing legal review, and efforts are ongoing to complete the remaining procedures and sign the agreement as soon as possible. According to Hindustan Times, the FTA is likely to be signed late this year and could come into force early next year.

Meanwhile, US Treasury Secretary Scott Bessent touched on the European Union’s purchase of oil products from India. In an interview with ABC News on Monday, Bessent said Europe was financing a “war” against itself by buying refined Russian oil products from India.

“Let me be clear once again, Russian oil goes to India, refined products come out, and Europeans buy refined products. They are financing the war against themselves.”

He also said that under Trump’s leadership, “we will eventually end” the Russia-Ukraine war.

The EU remains a vital economic and strategic partner for India

India and the European Union are committed to finalizing a far-reaching, mutually beneficial free trade agreement that will boost growth and prosperity for businesses and citizens on both sides, Union Commerce Minister Piyush Goyal said on Sunday.

“The European Union remains a vital economic and strategic partner for India, and we value our shared commitment to a mutually beneficial, ambitious India-EU Free Trade Agreement for the prosperity of our businesses and people.” he said.

I’m really happy to host you my friend, @MarosSefcovic!

I am pleased to acknowledge that the constant and constructive interaction between us and our teams over the past year has brought us closer to a fruitful outcome.

The European Union remains a vital economic and strategic partner for India,… https://t.co/T5Ll2jaaAe— Piyush Goyal (@PiyushGoyal) January 25, 2026

‘Mother of all deals’: India-EU Free Trade Agreement

The India-EU trade deal has been negotiated for almost 18 years, making it one of the longest-running trade disputes for India. Commerce Minister Piyush Goyal had earlier referred to the proposed deal as India’s “mother of all deals”.

European Council President Antonio Costa and European Commission President Ursula von der Leyen arrived in New Delhi on Monday to attend the 77th Republic Day celebrations ahead of the 16th India-EU Summit. Prime Minister Narendra Modi said India was honored to host the EU leaders, adding that their visit underlined the growing strength of the India-European Union partnership.

In its statement, the Ministry of External Affairs had said that India-EU bilateral relations have expanded and deepened in a wide range of areas, especially after the historic visit of the College of EU Commissioners to India in February last year.