India-EU Trade Pact: The Mother of All Deals Looms Large

The free trade agreement between India and the EU, described as the 'mother of all deals,' is nearing completion. Expected to be announced in late January, the agreement will see key EU leaders visiting India. It promises to diversify India's export markets and reduce dependence on China.

Commerce and Industry Minister Piyush Goyal announced on Friday that India and the EU are on the verge of concluding a substantial free trade agreement, calling it the 'mother of all deals'.

The formal announcement is expected by January 27, coinciding with the state visit of European Council President Antonio Luis Santos da Costa and European Commission President Ursula von der Leyen to India.

Goyal emphasized that the agreement will be mutually beneficial, fostering significant export opportunities for India while addressing the global trade challenges posed by high U.S. tariffs and dependence on China.

(With inputs from agencies.)