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New Delhi, 27 January. India and the European Union (EU) on Tuesday announced the completion of negotiations on the much-awaited Free Trade Agreement (FTA). While European Commission President Ursula von der Leyen and European Council chief Antonio Luis Santos da Costa called the agreement the ‘Mother of All Deals’, Prime Minister Narendra Modi said that India has completed the biggest trade agreement ever. This FTA is not just a trade agreement but a new blueprint for shared prosperity. This FTA includes 27 countries of the European Union.

16th India-Joint statement on EU summit

The India-EU joint statement said Prime Minister Narendra Modi co-chaired the 16th India-EU Summit with European Council President Antonio Costa and European Commission President Ursula von der Leyen on January 27, 2026 in New Delhi.

India-Resolve to take EU strategic partnership to a higher level

In the statement, both sides resolved to take the India-EU strategic partnership to a higher level based on shared values ​​and principles such as democracy, human rights, pluralism, rule of law and the UN-led rules-based international order. They also committed to addressing security threats, promoting inclusive and sustainable development, strengthening economic resilience and security, advancing climate and biodiversity action, and accelerating progress on the Sustainable Development Goals.

PM Modi said, ‘This historic agreement will make it easier for our farmers and our small industries to access the European market, create new opportunities in manufacturing and further strengthen cooperation between our services sector. Additionally, this FTA will boost investment between India and the EU, encourage new innovation partnerships and strengthen global supply chains. This agreement is not limited to trade only, but it presents a blueprint for shared prosperity.

Cooperation between India and EU is a good step for the world : PM Modi

The Prime Minister further said, ‘India and European Union cooperation is a good step for the world. Multilateralism and respect for international norms are our shared traditions. We are unanimous that reform of global institutions is necessary to address today’s challenges. We will expand tri-lateral projects from the Indo-Pacific to the Caribbean. This will support sustainable agriculture, clean energy and women empowerment.

Bilateral trade between India and EU is worth 80 billion euros

PM Modi said that at present the bilateral trade between India and the European Union is worth 80 billion euros and about eight lakh Indians live in different parts of Europe. India and the EU had been negotiating a bilateral trade agreement for nearly a decade. This was described as the Mother of All Deal by both sides. This agreement will benefit two billion people of the world and its impact will be seen on about 25 percent of the world’s economy.

We delivered the ‘Mother of All Deals’ – Ursula von der Leyen

After the signing of the India-EU Free Trade Agreement, European Commission President Ursula von der Leyen said, “Prime Minister Modi, we have done it… We have delivered the ‘Mother of All Deals’.”

She said, “Thank you very much for the extraordinary hospitality we received. It was an honor for us to be the chief guest on Republic Day yesterday. This is a memory I will carry with me throughout my life because the feeling of unity among the people was very strong. The streets were full of people, united with the pride and joy of belonging to the Indian nation.”

“India has moved forward, and Europe is really happy about that because when India succeeds, the world becomes more stable, more prosperous and more secure, and we all benefit from that,” Layne said.

trade talks completed, Partnership on the next level: Antonio Costa

Antonio Costa of the European Council said, ‘Today we have completed our trade negotiations. We restarted it in May 2021, when I had the opportunity to host that meeting in a previous role. This summit of ours gives a clear message to the world.

Antonio Costa said, ‘At a time when the global system is undergoing major changes, the European Union and India stand together as strategic and reliable partners. Today we are taking our partnership to the next level. As the world’s two largest democracies, we are working together to deliver tangible benefits for our citizens and build a global order that underpins peace, stability, economic growth and sustainable development.’

‘I am very proud of my roots in Goa’

Costa said, ‘I am the President of the European Council, but I am also an overseas Indian citizen. As you can understand, it means a lot to me. I am very proud of my roots in Goa, where my father’s family comes from, and the connection between Europe and India is personal to me. He also showed one of his passports and said that this will strengthen people to people ties.

Antonio Costa thanked Prime Minister Narendra Modi and said, ‘Prime Minister Modi, thank you for welcoming us on this special occasion. Yesterday we had the privilege of being the chief guest at the Republic Day celebrations. It was a very impressive display of India’s capabilities and diversity. Today is a historic moment. We are starting a new chapter in our relations on trade, security and people-to-people ties.