India-EU FTA Concluded: Modi, Goyal Hailed for "Mother of All Deals"

Speaking to ANI, Arha credited Prime Minister Narendra Modi and Commerce Minister Piyush Goyal for driving the initiative. The landmark India-European Union Free Trade Agreement (FTA), often referred to as the "mother of all deals," was officially concluded on January 27, 2026, following nearly two decades of negotiations.

"... Together, we will transform Indo-Mediterranean and European trade. Prime Minister Modi and your Commerce Minister, Mr Piyush Goyal, deserve a great deal of credit for making this happen...," he said.

By connecting two of the world's largest democratic economies, the deal creates a massive market of approximately 2 billion people, aiming to significantly reshape trade, investment, and supply chain resilience between India and Europe.

Officials are currently working on the legal review and translation of the agreement text, which is expected to be completed by July 2026.

Arha also highlighted the India-Middle East-Europe Economic Corridor (IMEC), hailed as a new "Golden Road" or modern Silk Route, being developed under PM Modi and Commerce Minister Piyush Goyal to connect India, the Middle East, and Europe.

Announced at the 2023 G20 Summit, this route links India with the UAE, Saudi Arabia, Jordan, Israel, and Europe, bypassing traditional chokepoints like the Suez Canal to reduce transit time by nearly 40%.

"One of the important things about William Dalrymple's book is the Golden Road. We are in the process under PM Modi and Piyush to put in a new Golden Road that connects India to Europe and onwards to America. That's the future, that's the discussion," Arha told ANI at Raisina Dialogue 2026.

The Golden Road by William Dalrymple explores how ancient India transformed the world through trade, ideas, and culture. The book highlights India's significant influence on Eurasia from 250BC to AD1200, spreading Buddhism, Hinduism, and mathematical concepts like the decimal system and algebra.

Reacting to the ongoing West Asia tensions, Arha stated that the current challenges are a necessary step towards a stronger and better future.

Arha said, "Sometimes, and you know this from India, sometimes a bitter medicine makes the patient and the environment stronger and better. This is a bitter medicine we had to go through."

Earlier, highlighting India's rising status in the global economic order, Union Minister of Commerce and Industry Piyush Goyal on Saturday described the relationship between India and the United States as a multidimensional alliance that extends far beyond trade.

Speaking at the Raisina Dialogue, Goyal emphasised that the partnership is anchored in high-tech collaboration and strategic security. The Minister noted that the bond between the two nations is defined by a deep integration of technology and investment.

"India and US relations are strong. It's multi-dimensional. It's not only about trade. There is a huge technology overlay on it. There is a huge critical minerals partnership, a defence partnership... It's a partnership of two countries which will define the future," Goyal stated.

Addressing the specifics of trade negotiations with Washington, Goyal expressed immense confidence in the outcomes India has achieved compared to other global players. "We got the best deal amongst all of the competitors," he remarked.

During a detailed fireside chat, Goyal elaborated on his "mantra" for negotiating Free Trade Agreements (FTAs), which involves balancing international ambitions with domestic sensitivities. He revealed that, unlike previous administrations, the current government prioritises exhaustive stakeholder consultations to ensure no local industry is "thrown under the bus."

The President of Finland, Alexander Stubb and the Prime Minister Narendra Modi inaugrated the eleventh edition of the Raisina Dialogue, India's flagship conference on geopolitics and geoeconomics, on Friday.

Opening the proceedings, Samir Saran, President, Observer Research Foundation (ORF), stated that throughout its eleven years, the Dialogue has remained steadfast in its "aim of unpacking the present to help shape the future.

"He pointed out that its theme in 2026, Samskara, captures a world in which "nations are asserting their identity, asserting their dialogue, and advancing through refinement."

- ANI