On Tuesday, Prime Minister Narendra Modi praised the India-European Union Free Trade Agreement (FTA) as the "mother of all deals," claiming that it would strengthen links between two of the biggest economies in the world and create enormous opportunities for individuals and companies on both sides.
"The European Union and India inked a significant agreement yesterday. This is being referred to as the "mother of all deals." The public in Europe and India will benefit greatly from this deal. "This is a perfect example of a partnership between two major economies of the world," Modi stated, noting that the agreement accounts for about one-third of global trade and 25% of global GDP.

Prior to the 16th India-EU Summit in Delhi, where he is expected to have limited, delegation-level discussions with European Council President Antonio Costa and European Commission President Ursula von der Leyen, the Prime Minister made these statements.
Both sides are expected to formally proclaim the end of negotiations on the long-pending free trade agreement, making the summit historic.
The successful conclusion of negotiations between India and the EU was announced by Commerce Secretary Rajesh Agrawal on Monday. The formal announcement of the trade deal is scheduled for Tuesday, January 27.
He stated that after formal signing and legal cleansing of the language, which might take five to six months, the agreement is anticipated to take effect next year.Von der Leyen, one of the main visitors at the Republic Day parade, emphasised the significance of India's development by writing on X, "A successful India makes the world more stable, prosperous, and secure." And everyone gains from it.

The agreement has also attracted notice from around the world. In the midst of ongoing trade negotiations between the US and India, US Treasury Secretary Scott Bessent expressed alarm about the development and criticised Europe for continuing to buy refined Russian oil products from India.