India-EU FTA: "Mother of All Deals" Nears Reality, Says Piyush Goyal

• Commerce Minister Piyush Goyal stated that the India-EU Free Trade Agreement (FTA) could be finalized by January 27, coinciding with EU leadership's meeting with PM Narendra Modi in New Delhi.
• Goyal emphasized that no EU member state opposes a trade partnership with India, calling the potential FTA the "mother of all deals" since 2014.
• Negotiations are in their final, arduous stage, with 20 out of 24 chapters already closed, and both sides are pushing to conclude talks before the leaders' meeting.
• Sensitive agricultural issues have been removed from the negotiation table, and discussions continue on topics like Carbon Border Adjustment Mechanism (CBAM), Geographical Indications (GI), critical minerals, and intellectual property rights (IPR).
• The EU is India's largest trading partner, with bilateral goods trade at $137.5 billion in FY 2023-24; India seeks market access for labor-intensive goods, while the EU aims to export more automobiles and liquor.

Why It Matters: India-EU FTA, dubbed "mother of all deals," is close to completion, promising mutual economic growth.