Explained: Why The India-EU Mega Trade Deal Is Being Called A 1991-Style Economic Game Changer

After decades of stop-start negotiations, India and the European Union on Tuesday signed a landmark free trade agreement in New Delhi, one of the most ambitious trade pacts India has ever concluded. Often compared to the 1991 economic reforms, the deal aims to double bilateral trade by 2032 and deepen cooperation across manufacturing, services, clean energy and supply chains. India will slash duties on most EU exports, while the EU offers near-total duty-free access to Indian goods. Sensitive sectors are protected, while mobility provisions boost opportunities for Indian students and professionals in Europe.