India-EU Trade Deal: Timeline of key milestones in strategic partnership from 1962 to today

PRIME Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.

Addressing the Indian Energy Week virtually, Modi congratulated all on the EU-India trade deal and said, “I am informing you about a big development … a significant agreement was signed between India and Europe yesterday (Monday).”

People are discussing it as a "mother of all deals”, and this agreement has brought a lot of opportunities for 140 crore Indians and crores of Europeans, he said.

"This is an excellent example of coordination between two economies of the world. This agreement represents 25 per cent of the global GDP and one third of the global trade," he said.

Prime Minister Modi’s remarks came as he all set to host the 16th EU-India summit in New Delhi today. The visiting President of the European Council, António Costa, and the President of the European Commission, Ursula von der Leyen, will represent the EU at the summit.

The summit will offer an opportunity to build on the EU-India strategic partnership and further strengthen collaboration across key policy areas such as trade, security and defence, the clean transition and people-to-people cooperation, according to a statement from the European Council.

The India-EU partnership has developed over decades, beginning with basic diplomatic engagements and expanding into a multifaceted strategic alliance that encompasses political dialogue, economic cooperation, security, and global challenges like climate change and technology. 

India-EU partnership has developed over decades, beginning with basic diplomatic engagements and expanding into a multifaceted strategic alliance that encompasses political dialogue, economic cooperation, security, and global challenges like climate change and technology.

India-EU partnership has developed over decades, beginning with basic diplomatic engagements and expanding into a multifaceted strategic alliance that encompasses political dialogue, economic cooperation, security, and global challenges like climate change and technology, according to a government statement.

From initial recognition in the 1960s to the establishment of annual summits and joint initiatives in the 21st century, the ties have progressed significantly, reflecting mutual interests in trade, investment, and sustainable development.

Diplomatic relations between India and the EU trace back to the early 1960s, with India being among the first countries to establish ties with the European Economic Community (EEC) in 1962. This laid the groundwork for formal cooperation, culminating in the 1993 Joint Political Statement and the 1994 Cooperation Agreement, which aimed to strengthen bilateral political and economic links.

Here is a timeline of India-EU Relations:

1962:Early Economic Engagement - India establishes formal ties with the European Economic Community (EEC)

1993: Political Foundation—Adaptation of the joint political statement, deepening diplomatic engagement

1994: Institutional Cooperation—Signing of the India-EU Cooperation Agreement

2000: Summit-level Dialogue—First India-EU Summit in Lisbon, marking a new phase of high-level engagement.

2004: Strategic Elevation—Partnership upgraded to a strategic partnership at the 5th summit in the Hague

2007: Trade Ambitions—Launch of negotiations for the Broad-based Trade and Investment Agreement (BTIA)

2020: Future-Oriented Vision—Adaptation of the India-EU Strategic Partnership Roadmap to 2025.

2022: Technology and Trade Synergy—Launch of the India -EU Trade and Technology Council (TTC)

This agreement represents 25 per cent of the global GDP and one-third of global trade.
2025: New Strategic EU-India Agenda: EU strategy to reinforce prosperity and security with India.