India and E.U. finalize landmark trade deal as they hedge against U.S.

NEW DELHI — India and the European Union have finalized a landmark trade deal that will represent a quarter of the world’s economy, Indian Prime Minister Narendra Modi said Tuesday, as the two sides seek to hedge against fickle ties with the United States.

After nearly two decades of on-off negotiations, the deal will pave the way for India to open up its vast and guarded market, the world’s largest, to free trade with the 27-nation E.U., its biggest trading partner.

“Yesterday, a big agreement was signed between the European Union and India,” Modi said.

“People around the world are calling this the mother of all deals. This agreement will bring major opportunities for the 1.4 billion people of India and the millions of people in Europe,” he said.

He added that the agreement represents 25% of global GDP and one-third of global trade.

• Add to Google

European Union halts approval of U.S. trade deal after Trump tariff threat

02:35

Modi and European Commission President Ursula von der Leyen are expected to make a joint announcement at an India–E.U. summit in New Delhi, along with the details of the deal, later on Tuesday.

Trade between India and the E.U. stood at $136.5 billion in the fiscal year through March 2025.

The agreement comes days after the E.U. signed a pivotal pact with the South American bloc Mercosur, following deals last year with Indonesia, Mexico and Switzerland.

During the same period, New Delhi finalized pacts with Britain, New Zealand and Oman.

For Subscribers

FOR SUBSCRIBERSDiddy is punished following NBC News report on his VIP life in prison and contraband cellphone use

FOR SUBSCRIBERS‘Too young to vote, old enough to be tear gassed’: French protesters’ anger swells

FOR SUBSCRIBERSDOJ gets aggressive in suing states that challenge Trump’s immigration policies

FOR SUBSCRIBERSJustice Department seeks criminal charge for former Trump aide Cassidy Hutchinson

FOR SUBSCRIBERS‘I just want to hold him’: USS Lincoln sailor to meet his 10-month-old son as ship docks

FOR SUBSCRIBERSSenate candidates run on raising Social Security taxes for higher incomes to prevent benefit cuts

FOR SUBSCRIBERSRussian operation that used ChatGPT tricked schools, a politician and media, OpenAI says

FOR SUBSCRIBERSTrump administration’s deal with Nevada fuels data center fight in governor’s race

FOR SUBSCRIBERSLatino voters reject Trump’s immigration policies — and detail the personal impact

FOR SUBSCRIBERSAs Democrats eye big midterm gains, the Wisconsin governor’s race remains a nail-biter

FOR SUBSCRIBERSU.S. military prepares new Iran war options ahead of midterm elections

FOR SUBSCRIBERSCIA probe into intel leak led to discovery of gold bars at agent’s home, sources say

FOR SUBSCRIBERSTexas Latino leaders clash with national Democrats in a meeting over gubernatorial race

FOR SUBSCRIBERS‘Still in this very long day that started on Oct. 7th’

FOR SUBSCRIBERSAnimal rescues in Cuba struggle to care for abandoned pets amid deepening economic crisis

Slide 1 of 1

For Subscribers

FOR SUBSCRIBERSDiddy is punished following NBC News report on his VIP life in prison and contraband cellphone use

FOR SUBSCRIBERS‘Too young to vote, old enough to be tear gassed’: French protesters’ anger swells

FOR SUBSCRIBERSDOJ gets aggressive in suing states that challenge Trump’s immigration policies

FOR SUBSCRIBERSJustice Department seeks criminal charge for former Trump aide Cassidy Hutchinson

FOR SUBSCRIBERS‘I just want to hold him’: USS Lincoln sailor to meet his 10-month-old son as ship docks

FOR SUBSCRIBERSSenate candidates run on raising Social Security taxes for higher incomes to prevent benefit cuts

FOR SUBSCRIBERSRussian operation that used ChatGPT tricked schools, a politician and media, OpenAI says

FOR SUBSCRIBERSTrump administration’s deal with Nevada fuels data center fight in governor’s race

FOR SUBSCRIBERSLatino voters reject Trump’s immigration policies — and detail the personal impact

FOR SUBSCRIBERSAs Democrats eye big midterm gains, the Wisconsin governor’s race remains a nail-biter

FOR SUBSCRIBERSU.S. military prepares new Iran war options ahead of midterm elections

FOR SUBSCRIBERSCIA probe into intel leak led to discovery of gold bars at agent’s home, sources say

FOR SUBSCRIBERSTexas Latino leaders clash with national Democrats in a meeting over gubernatorial race

FOR SUBSCRIBERS‘Still in this very long day that started on Oct. 7th’

FOR SUBSCRIBERSAnimal rescues in Cuba struggle to care for abandoned pets amid deepening economic crisis

Slide 1 of 1

The spate of deals underscores global efforts to hedge against the U.S. as President Donald Trump’s bid to take over Greenland and tariff threats on European nations test longstanding alliances among Western nations.

Trump has imposed a 50% tariff on goods from India and an India-U.S. trade deal collapsed last year after a breakdown in communication between the two governments.

The formal signing of the India-E.U. deal would take place after legal vetting expected to last five to six months, an Indian government official aware of the matter has said.

“We expect the deal to be implemented within a year,” the official added.