Under the India-European Union Free Trade Agreement, often described as the 'mother of all deals', India will permit EU banks to open 15 branches over a four-year period, offering limited market access while protecting domestic financial stability. India already allows 100% FDI in insurance and 74% in banking. The pact contains safeguards for national security and against sudden import surges, leaves India's intellectual property regime unchanged, and provides for a joint review every five years.