The India-EU free trade agreement is likely to be announced next week as top leaders visit New Delhi for a joint summit. The update came even as the European Union suspended various export benefits to various sections under a preferential scheme. The Commerce Ministry had insisted that the decision would not impact Indian exports to the 27-nation bloc. According to the EU Official Journal, rules had been laid down in late September last year in connection with the suspension of certain tariff preferences. The update would apply from the beginning of January 2026 to December 28 for three GSP beneficiary countries: India, Indonesia and Kenya.