The Sunday Guardian reports: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Friday stated that the 16th IndiaEU Summit held in New Delhi this January provided a decisive new momentum to the bilateral strategic partnership, elevating it to a higher level. Addressing the Europe Day 2026 celebrations in the presence of EU Ambassador Herve Delphin, Sitharaman noted that the outcomes of the summit signify a transformative phase in the engagement between the two powers. “The 16th India-EU Summit held at New Delhi in January 2026 has given a decisive new momentum to our Strategic partnership, taking it to a newer level,” the Finance Minister said on X.
The Minister emphasized that the successful conclusion of negotiations for the India-EU Free Trade Agreement (FTA), alongside the signing of the Security and Defence Partnership and the adoption of the Comprehensive Framework on Cooperation on Mobility, represents a new chapter in Indo-EU relations. “The joint roadmap adopted at the Summit – ‘Towards 2030: India-EU a Joint Comprehensive Strategic Agenda’ provides a clear and ambitious vision for our cooperation over the coming years,” the Ministry of Finance quoted er as saying. Earlier on Thursday, the European Union’s Ambassador to India, Herve Delphin, advocated for the inclusion of an investment liberalisation chapter within the landmark free trade agreement (FTA) between the two powers.
Background
Delphin also called for the rapid finalisation of a separate investment protection pact to solidify the legal ground for businesses. The 27-nation bloc and India recently marked a breakthrough on 27 January by announcing the conclusion of negotiations for the FTA, a deal widely celebrated as the “mother of all deals”. Under the proposed terms, a vast array of Indian products will gain duty-free entry into the European market, while Indian consumers can expect a price drop for European luxury vehicles and wines.
What this means
Currently, both partners are immersed in the legal vetting of the expansive, 1,000-page document, a process slated for completion this July.
Originally reported by The Sunday Guardian. This story has been edited and re-presented by BRIC Team.
