India-EU FTA: "Mother of All Trade Deals" Nears Signing, Set to Boost Key Sectors

• The Free Trade Agreement (FTA) between India and the European Union (EU) is expected to be signed around January 27, termed the "Mother of all trade deals" by Commerce Minister Piyush Goyal.
• The agreement aims to elevate India's relations with 27 European countries, providing Indian products 'duty-free' access to the EU's rich consumer market and boosting exports.
• India and the EU's economies are complementary, with India offering human resources and manufacturing, and the EU providing high technology and investment.
• European Council President Antonio Luis Santos da Costa and European Commission President Ursula von der Leyen will visit India for Republic Day, potentially coinciding with the FTA announcement.
• Key Indian sectors like Textile and Apparel, IT and Digital Services, Gems and Jewellery, and Agriculture and Food Processing are expected to benefit significantly from reduced duties and harmonized standards.

Why It Matters: The India-EU FTA, a landmark deal, is poised to significantly boost India's exports and strengthen economic ties.