India’s Commerce and Industry Minister Piyush Goyal expects the concluded trade agreement with the European Union to take effect in March or April 2027, though the required legal and political approvals remain outstanding.
In an NDTV interview published Oct. 27, Goyal forecast a signature before the end of 2026. He described the pact as one in which “everybody is a gainer,” NDTV reported.
European Commission projections suggest the agreement could double EU goods exports to India by 2032. The Commission says tariffs would be reduced or eliminated on goods making up 96.6% by value of EU exports to India, and estimates European products could save about €4 billion a year in duties.
Commission figures put annual trade in goods and services between the EU and India above €180 billion, with nearly 800,000 EU jobs associated with that commerce. Goyal also said investment attracted to India could benefit Indian businesses, NDTV reported.
Separately, Goyal has described India’s wider free trade agreement drive as opening markets with about $85 trillion in combined GDP over the next 18 months. In recorded remarks, he compared that total with a global GDP estimate of $115 trillion, a ratio of roughly 74%.
The forecast signing date is not a confirmed schedule. Negotiations concluded Jan. 27, but the European Commission says the draft remains subject to legal revision and the pact will bind the parties only after they complete required legal procedures. Talks began in 2007, were suspended in 2013 and resumed in 2022.
The EU process includes Council adoption, signature, European Parliament consent and a subsequent Council decision; India must ratify the agreement as well. The Commission sent proposals to the Council on Sept. 11, and the Parliament still lists the file in a preparatory phase. An earlier EconoTimes report outlined the pact’s remaining approval steps.
