India, Jan. 27 -- Prime Minister Narendra Modi and European Commission President Ursula von der Leyen, have jointly announced the conclusion of the India-European Union Free Trade Agreement (India-EU FTA) at the 16th India-EU Summit, held during the visit of the European leaders to India. This announcement marks a historic milestone in India-EU economic relations and trade engagement with key global partners.

The European Union is India's one of the largest trading partner, with bilateral trade in goods and services growing steadily over the years. In 2024-25, India's bilateral trade in goods with the EU stood at Rs 11.5 Lakh Crore ($136.54 billion) with exports worth Rs 6.4 Lakh Crore ($75.85 billion) and imports amounting to $5.1 Lakh ...