India-EU trade deal nears final stage, says EU trade chief

The European Union (EU) Trade Commissioner Maros Sefcovic has said that the India-EU trade deal, often being referred to as the “mother of all deals”, was “very close” as both sides are “checking their final numbers”.

‘India imposed 150 per cent tariffs’

Speaking to Euro News, the EU Trade Commissioner further stated that India has imposed tariffs as high as 150 per cent in some sectors, which effectively makes large parts of the Indian economy off-limits for European exporters.

Also Read: India-EU trade deal: ‘Successful India makes world stable,’ says EU chief

“In some sectors, India has tariffs going up to 150 per cent. And therefore, big parts of the economy have been completely closed off to the European exporters,” said Sefcovi,c who is currently in New Delhi ahead of the India-EU summit scheduled to be held on Tuesday (January 27). He attended the Republic Day parade on Monday (January 26).

‘Most sensitive sectors kept out’

Elaborating further, the EU trade chief said that if the deal materializes then it would result in a free trade area covering 2 billion people, adding that all sectors would not be covered under the deal.

“We decided to keep the most sensitive sectors for both of us outside of this deal so we can really focus on the positive outcome,” he added.

‘Very tough negotiators’

Describing the proposed India-EU trade deal as the “largest trade deal ever”, the EU trade chief said that it would “help us [the EU] have an insurance against the global trade turmoil.”

Also Read: From Viswaguru to labour supplier: Hidden cost of India-EU trade talks

As for his Indian counterparts, Sefcovic described them as “very tough negotiators,” adding, “They had a high tariff, they are a developing country, and we wanted to respect their specificity, and at the same time, to protect European general interest.”

What European Commission President said

Earlier in Davos, European Commission President Ursula von der Leyen said the European Union was nearing the conclusion of a Free Trade Agreement with India.

Speaking at the World Economic Forum, Leyen underlined Europe’s push to deepen trade ties and strengthen international cooperation, while pointing to the sheer scale of the proposed agreement with India.

Also Read: As India, EU near free-trade agreement, here’s what’s at stake

“There is still work to do. But we are on the cusp of a historic trade agreement,” she said. “Some call it the mother of all deals. One that would create a market of 2 billion people, accounting for almost a quarter of global GDP.”

She described the potential agreement as a major step in aligning Europe with key growth centres. Leyen, along with European Council President Antonio Luis Santos da Costa, later attended India’s 2026 Republic Day celebrations as chief guests.