The announcement was made during the 16th EU-India Summit, which was chaired by Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Santos da Costa.

Commerce Secretary Rajesh Agrawal stated that, from his country’s perspective, the trade agreement is balanced and forward-looking, which will contribute to better economic integration between India and the EU.

Agrawal added that it will boost trade and investment in both economies.

Regarding the meeting, European Commission Vice President Kaja Kallas noted that the EU-India Security and Defense Partnership was also signed.

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