The India-European Union Free Trade Agreement (FTA) is poised to be one of the largest trade deals globally, covering nearly one-third of global trade and impacting around 2 billion people. Darpan Jain, Additional Secretary in the Department of Commerce, emphasized that the deal encompasses approximately $11 trillion in global trade and nearly a quarter of global GDP. The FTA is comprehensive, addressing not just tariff reductions but also trade in goods, services, digital trade, and intellectual property rights. India's goods exports are projected at $442 billion, while services exports are at $421 billion this year. The automotive sector stands to benefit significantly, with tariffs on cars priced over $40,000 expected to drop from 110% to 40% upon implementation. European businesses highlighted the FTA's potential to deepen supply chain integration and boost manufacturing in India. A recent study revealed that 5,833 EU firms operate in India, generating an estimated turnover of EUR 186 billion and nearly 6 million jobs in FY24, reinforcing the EU's position as India's largest trading partner in goods.