India-EU FTA Negotiations Successfully Concluded(Concluded ) 

New Delhi: India and the European Union (EU) have successfully concluded  (Concluded )   negotiations for the proposed Free Trade Agreement (FTA) and the deal has been finalized. India and the European Union will announce this historic FTA at the India-EU Summit to be held on Tuesday. Commerce Secretary Rajesh Agarwal provided this information. He said that from India’s perspective, this trade agreement is balanced and forward-looking, which will help in better economic integration of India with the European Union. Agarwal expressed confidence that this will give new impetus to trade and investment in both economies.

When will the India-EU Free Trade Agreement come into effect?
The Commerce Secretary announced, “The legal vetting of the draft agreement is currently underway. The government is trying to complete these processes soon and sign the agreement. It is expected that this agreement will be signed this year and may come into effect at the beginning of next year.” Through this FTA, India and the European Union will finalize a strategic defense agreement and facilitate the movement of migrants on Tuesday. Prime Minister Narendra Modi will host European Commission President Ursula von der Leyen and European Council President Antonio Costa at this summit. This meeting is expected to offer a comprehensive approach for both sides amidst the geopolitical instability arising from Washington’s policies on trade and security.

Security and Defence Partnership to be Signed
Von der Leyen said on Monday, “A successful India makes the world more stable, prosperous and secure. This benefits us all.” She described the participation of the EU military contingent in the Republic Day parade as a powerful symbol of deepening security cooperation between the two sides. Confirming the outcomes, she said, “This will culminate tomorrow with the signing of our security and defense partnership.” Being invited as a guest for Republic Day is a profound honor.
European Union Trade and Economic Security Commissioner Maroš Šefčovič, after witnessing the Republic Day celebrations, indicated that the India-EU free trade agreement would be finalized on Tuesday. He said on social media, “It is a profound honor to be invited as a guest for India’s Republic Day. There could be no more fitting moment to reaffirm our partnership and strengthen it further through the conclusion of an ambitious FTA.”