India and EU Forge 'Mother of All Deals' with Landmark Free Trade Agreement

India and the European Union signed a landmark free trade agreement, expected to boost bilateral trade and strengthen defense cooperation. This 'mother of all deals' is aimed at fostering innovation, creating jobs, and reducing trade dependencies, while furthering a rules-based world order.

India and the European Union finalized what is being hailed as the 'mother of all deals,' a landmark free trade agreement designed to enhance bilateral trade and reinforce defense collaboration. Announced on Tuesday, the agreement was sealed by Prime Minister Narendra Modi and EU leadership, including Ursula von der Leyen and Antonio Costa, during a summit that marked a new chapter in India-EU relations.

The trade deal, concluded after 18 years of negotiations, aims to boost economic ties by granting Indian applications a smoother entry to European markets while strengthening cooperation in security and innovation. "This is not just a trade agreement," Modi stated, "but a blueprint for shared prosperity," emphasizing its significance in facilitating market access and fostering the growth of small industries in India.

European Commission President von der Leyen celebrated the agreement, stressing its historic importance in fostering inclusive growth and economic resilience. Together, India and the EU, representing two billion people, are poised to create significant job opportunities and reduce strategic dependencies amid growing global trade challenges. The deal is set to invigorate the supply chain and serve as a beacon for global cooperation.

(With inputs from agencies.)