Europe Today EU-India shindig wraps up in Delhi with mega trade deal
Jan 28, 2026
António Costa, President of the European Council, on the political and economic weight of the new EU–India trade deal. Josef Aschbacher, ESA Director General, on Europe’s space innovators and funding gaps. They discuss trade winners, strategic signalling in a multipolar world, and the need to back home-grown space entrepreneurs.
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Big Market Opening For EU Firms
- The EU–India trade deal sharply reduces tariffs across many sectors, opening a previously protected market to European exports.
- This could unlock major opportunities for European machinery, food brands and carmakers while lowering barriers for doing business in India.
Winners And Protections In The Deal
- Tariffs on machinery components and equipment will fall to zero, and many European food products see the same cut.
- Car tariffs will be reduced more gradually, with some models facing quotas and lower cuts to protect industry sensitivities.
Deal As Political Signal
- António Costa framed the deal as politically significant: two large democracies promoting cooperation over confrontation.
- He argued such bilateral deals complement multilateral rules and help underpin international law and predictability.