New Delhi, Jan. 28 -- The long-awaited free trade agreement between India and the European Union was announced on Tuesday. While the EU has already released a chapter-by-chapter summary, India's official text is still awaited. Often billed as the "mother of all trade deals", the pact spans 20 chapters and is being pitched as a major win for both sides.

From India's perspective, the agreement promises substantial gains in goods and services exports and deeper integration with a large developed market. At the same time, it locks in some of the EU's toughest regulatory standards, while leaving sensitive areas-especially agriculture and carbon-related costs-largely unresolved. Mint explains the agreement, chapter by chapter.

India's biggest...