India-EU FTA Expected by 2026: Piyush Goyal Announces Historic Trade Pact

• Commerce Minister Piyush Goyal announced the India-EU Free Trade Agreement (FTA) is likely to be implemented within the 2026 calendar year.
• The agreement, concluded after two decades of negotiations, was described as the 'mother of all deals' and will create a market of about 2 billion people.
• Once implemented, 93% of Indian shipments will gain duty-free access to the EU, while luxury cars and wines from the EU will become cheaper in India.
• India and the EU together account for 25% of global GDP and one-third of international trade.
• Goyal highlighted the pact as a 'balanced, equitable, and fair' agreement, offering a win-win for industries in both regions and opening investment opportunities.

Why It Matters: The India-EU FTA, a historic pact, is set for 2026 implementation, promising significant trade and investment benefits.