The deal will propel trade and investment between both sides," said India Trade Secretary Rajesh Agrawal. Trade between the two sides stood at $136.5 billion in the fiscal year through March 2025. After nearly two decades of on-off negotiations, the deal will see India open up its vast and guarded market, the world's largest, to free trade with the EU, its biggest trading partner. An India-U.S. trade deal collapsed last year after a breakdown in communication between their two governments. Both the EU and India had been locked in last-minute give and take over cars and steel trade, among the final points of contention.

Source: The Telegraph January 27, 2026 04:20 UTC