It took years to get here, but the final stretch is moving fast. The EU–India landmark trade deal has reached member states in record time, putting the ball in their court. And bringing European businesses closer to easier access to one of the world’s biggest markets.

The European Commission has presented the Free Trade Agreement (FTA) between the European Union and India to the Council of the EU. If member states give it the green light, it will become the biggest trade deal Brussels and New Delhi have ever struck.

For European companies, the deal would open up much easier access to one of the world’s biggest markets. It would remove or cut tariffs on 96 per cent of goods the EU exports to India, saving European businesses around €4 billion a year in duties, according to the Commission. It would also tackle other trade barriers and provide more predictable rules for trade and investment.

The EU and India already trade more than €180 billion worth of goods and services every year. That trade supports almost 800,000 jobs across the EU. Once the deal takes effect, European companies should find it easier to do business in India, while consumers could benefit from more choice and more competitive prices.

More than just another trade deal

The agreement is also part of a wider EU push to strengthen trade ties beyond its traditional partners. The world’s most populous country matters to Europe not just as a vast market, but as a strategic partner at a time when global trade is increasingly shaped by the rivalry between the United States and China.

The sheer scale of the deal is striking. Together, the two markets represent roughly 2 billion people and economies accounting for around a quarter of global GDP.

„Our focus has been clear from the start: to ensure that businesses and citizens feel the tangible benefits of this landmark FTA as quickly as possible,“ Trade Commissioner Maroš Šefčovič said. He said the Commission was putting the agreement before the Council for signature and conclusion in record time.

From political deal to real-world trade

The political agreement announced in January was only the beginning. Today’s move takes the deal from a headline-making political breakthrough into the formal approval process.

Earlier estimates suggested the agreement could almost double European exports to India by 2032. The Commission has also argued that completing trade deals faster has become more important than ever in the current geopolitical climate.

The proposals now need approval from EU member states in the Council. The European Parliament must then also give its consent before the agreement can be concluded. India, meanwhile, is carrying out its own domestic ratification process.

Only once all those steps are complete will it become clear how many European companies can actually make the most of the new terms.