Historic EU-India Trade Deal Sealed with Personal Touch from Goan-Origin Leader
In a momentous development for international trade, the European Union and India have officially concluded a long-awaited free trade agreement, marking a significant milestone in their bilateral relationship. The announcement was made during a joint press conference in New Delhi, featuring European Council President António Costa, European Commission President Ursula von der Leyen, and Prime Minister Narendra Modi.
Strategic and Personal Significance Highlighted
European Council President António Costa emphasized both the strategic and personal importance of this landmark agreement. As a Person of Indian Origin with deep ancestral ties to Goa, Costa expressed profound pride in his heritage, stating that the EU-India relationship holds special meaning for him on a personal level.
"I am very proud of my roots in Goa, where my father's family came from," Costa declared during the press conference. "The connection between Europe and India is something personal. Also, because we conclude today our trade negotiations."
Costa further explained that the agreement sends a powerful global message during a period of geopolitical uncertainty, positioning the EU and India as strategic and reliable partners in the evolving world order.
The "Mother of All Deals"
Prime Minister Narendra Modi confirmed that this comprehensive agreement, finalized after nearly two decades of negotiations, aims to significantly deepen economic and strategic cooperation between the two major economies. Covering a combined population of nearly two billion people, the pact has been described by both parties as the "mother of all deals" and stands as one of the largest bilateral trade arrangements globally.
Addressing the significance of the partnership, Modi noted that the EU-India relationship represents approximately 25% of global GDP and about one-third of global trade, underscoring its substantial economic weight and potential impact on international commerce.
Timely Agreement Amid Global Trade Pressures
The timing of this agreement proves particularly significant as both India and the European Union face increasing trade pressures from the United States, including steep import tariffs that have disrupted established trade flows. Economic analysts suggest this deal reflects a broader trend among major economies to diversify partnerships and reduce vulnerability to protectionist policies.
Modi was scheduled to meet later in the day with Ursula von der Leyen and António Costa to formally announce the agreement, signaling a renewed commitment to closer EU-India cooperation amid shifting global alliances and economic realignments.
Costa's Deep Indian Connections
António Costa's personal connection to India runs deep through his father's family, which originates from Goa. His grandfather was born in the former Portuguese colony and spent much of his life there. Costa's father, Orlando da Costa, was born in Mozambique during Portuguese rule and became a noted writer whose work reflected strong Goan influences, including essays on Rabindranath Tagore.
Among his admirers in India, Costa is affectionately known as "Babush," a Konkani word meaning a beloved young one. His relationship with India has been formalized through several significant milestones:
- In January 2017, Costa visited his ancestral home in Goa and received the prestigious Pravasi Bharatiya Samman award
- Later that year in July, he hosted Prime Minister Narendra Modi in Lisbon for the first bilateral visit by an Indian Prime Minister to Portugal
- During this visit, Modi described Costa as "representing the best of the Indian diaspora across the world"
- Costa was also conferred an Overseas Citizen of India (OCI) card, further cementing his formal ties to the country
Widely regarded as a skilled negotiator, Costa earned the nickname "the Gandhi of Lisbon" in Portugal for his transformative work in revitalizing a crime-ridden neighborhood during his tenure as mayor of the capital city.
Future Implications and Global Impact
This historic agreement promises to unlock major opportunities for businesses and citizens across both India and Europe. The partnership represents a strategic alignment between two of the world's largest economic blocs at a crucial juncture in global trade relations.
As Costa noted during the announcement, "Our summit sent a clear message to the world. At a time when the global order is being fundamentally reshaped, the European Union and India stand together as strategic and reliable partners. Today, we are taking our partnership to the next level."
The successful conclusion of these negotiations, facilitated in part by Costa's personal understanding of both European and Indian perspectives, sets a new precedent for international trade agreements that blend strategic interests with cultural and personal connections.
