FM Sitharaman Explains The ‘Mother Of All Deals’: 92.5% Tariff Lines, 97% Trade Value Opened

Finance Minister Nirmala Sitharaman highlighted the India-EU trade agreement as a major example of India’s approach to negotiating trade deals in a changing global economy. Referring to European Commission President Ursula von der Leyen’s description of it as the “mother of all deals,” Sitharaman said the agreement covers economies representing around 2 billion people and roughly a quarter of global GDP. Sitharaman said India has opened 92.5% of its tariff lines and around 97% of trade value, while the EU has opened about 99% in value terms and around 97% of tariff lines, according to her remarks. Official Indian figures put India’s offer at 92.1% of tariff lines covering 97.5% of EU export value, while the EU’s concessions cover almost 97% of tariff lines and more than 99% of trade value. She also stressed that sensitive areas such as agriculture and dairy required calibrated market access, while supply-chain resilience and national interests remain central to trade negotiations.