New Delhi, Jan. 27 -- India and the European Union (EU) announced the conclusion of negotiations for a Free Trade Agreement (FTA) on Tuesday, 27 January at the 16th India-EU Summit.

The FTA, often described as "the mother of all deals", seeks to "strengthen economic and political ties between the world's second and fourth largest economies, at a time of rising geopolitical tensions and global economic challenges, highlighting their joint commitment to economic openness and rules-based trade," the official statement read.

Here are the key details of the FTA outlining what the EU and India are offering each other, including tariff differences before and after the proposed deal -

Under the FTA, India will gain preferential access to Europ...