Commerce and Industry Minister Piyush Goyal on Friday, January 16th, 2026, described the proposed free trade agreement (FTA) between India and the European Union as the “mother of all deals”, comparing it with the seven trade agreements India has signed so far with developed countries. However, he did not confirm reports suggesting a January 27 deadline for the conclusion of the agreement.
Since 2014, India has entered into trade deals with the United Kingdom, Mauritius, the United Arab Emirates, Oman, and the four European Free Trade Association (EFTA) countries—Switzerland, Norway, Iceland, and Liechtenstein—besides an early harvest agreement with Australia. “I have done seven FTAs so far, all with developed countries. This one will be the mother of all deals,” Mr. Goyal told reporters.
The Minister said the proposed agreement would be mutually beneficial for both India and the EU. He noted that India was securing favourable terms in sectors of its interest, while offering similar advantages to the EU in areas important to it. “It has to be win-win for both. The good part is that we don’t compete with each other. Our interests are different,” he said.
Despite growing expectations that the deal could be finalised during the visit of European Commission President Ursula von der Leyen and European Council President António Costa to India from January 25 to 27, Mr. Goyal said he did not wish to commit to a deadline.
Commerce Secretary Rajesh Agrawal had earlier said that sensitive agricultural issues for both sides would be kept outside the agreement and that 20 of the 24 chapters under negotiation had already been finalised.
