Historic India-EU Free Trade Agreement: The 'Mother of All Deals'

The India-EU free trade agreement has been hailed as a major breakthrough by global businesses and experts. Announced after 20 years of negotiations, the deal marks a significant step toward fostering economic cooperation between India and the European Union, impacting a quarter of global GDP.

Global businesses and European companies with operations in India have applauded the newly concluded India-EU free trade agreement, labeling it a long-anticipated breakthrough. Several senior political leaders across Europe expressed their approval of the agreement.

Following two decades of negotiations, India and the 27-nation European bloc announced the conclusion of negotiations for what has been termed 'the mother of all deals.' Expected to be signed and implemented this year, this agreement is set to accelerate opportunities for businesses on both sides, according to industry leaders like Jurgen Westermeier, President and Managing Director for India and South Asia at Airbus.

The agreement, praised by the President of the Berlin Chamber of Commerce for opening up opportunities in a tense global market, is seen as a major strategic move against global protectionism by various European business organizations. It's expected to enhance market diversification, particularly benefitting machinery and agri-food sectors.

(With inputs from agencies.)