NEW DELHI—India’s farmers said they would call off protests that have endured for more than a year, after the government acceded to their demands and completed a major retreat for Prime Minister Narendra Modi.

Pitching tents on the outskirts of New Delhi since November last year, thousands of farmers persevered through the winter cold—and long stretches of the pandemic—urging Mr. Modi to repeal three laws designed to deregulate the agricultural sector. In a surprise move last month, Mr. Modi broke the deadlock by agreeing to roll back the legislation.

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