India, Jan. 26 -- India and the European Union (EU) have successfully concluded negotiations for the proposed Free Trade Agreement, commerce secretary Rajesh Agrawal said on Monday. He said the deal, to be announced formally on January 27, is "balanced and forward-looking," which will help improve India's economic integration with the EU.

"The deal will come into force sometime next year. Legal scrubbing of the text will take 5-6 months; formal signing will be done post that," Agrawal was quoted as saying.

"Negotiations have been successfully concluded. The deal has been finalised. It will propel trade and investments in both economies," he added.

European Council President Antonio Costa and European Commission President Ursula von der...