US Edition'I'm from Goa': Costa cites his Indian roots, calls new pact most ambitious FTA ever concluded'
The FTA covers 90% of goods tariffs, aims to deepen economic and strategic ties, and is hailed as the EU's most ambitious trade pact, representing 25% of global GDP.
- On January 27, 2026, India and the European Union signed their most ambitious FTA in New Delhi, with António Costa, Ursula von der Leyen, and Prime Minister Narendra Modi present as leaders hailed it the 'mother of all deals.'
- Strategic motives drove the negotiation, with leaders saying the pact aims to deepen trade, manufacturing and services cooperation, diversify export destinations, and attract foreign direct investment between India and the European Union.
- Concrete trade terms include tariff cuts on over 90% of traded goods, European liquor duties reduced to 40 per cent, and luxury car duties dropping from 110 per cent to 10 per cent.
- The agreement will immediately boost investment and job creation, ease market access for Indian exporters , and includes a security and defence pact with mobility of Indian talent to Europe, making India the third Asian nation in such defence ties.
- Highlighting his roots, António Costa produced his Overseas Citizen of India card and said, `I am from Goa,` showing his deep personal ties to the pact.
95 Articles
95 Articles
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'Very proud of ancestral roots in Goa': European Council chief Antonio Costa flaunts OCI card—watch
European Council President Antonio Costa expressed pride in his Goan roots, highlighting his personal connection to India as the EU and India concluded an ambitious free trade agreement. This historic moment marks a new chapter in their relations, strengthening ties in trade, security, and ...
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