Historic India-EU Trade Deal Set to Forge World's Largest Free Trade Zone

A major trade agreement between India and the EU is expected to conclude soon, signaling a strong commitment to free trade and economic security. Spanish and Indian leaders express confidence in its progress, with European Commission president Ursula von der Leyen visiting India to finalize discussions.

Spain's Foreign Minister, José Manuel Albares, announced on Wednesday during his visit to New Delhi that a significant trade deal between India and the European Union is on the verge of completion. Albares remarked that negotiations are proceeding without hindrance following meetings with India's Foreign Minister Subrahmanyam Jaishankar and President Droupadi Murmu.

He emphasized the importance of the agreement as a demonstration of the EU's commitment to free trade and economic stability. Albares also highlighted the need for clear communication that the EU supports free trade and possesses measures to counteract economic coercion.

European Commission President Ursula von der Leyen is scheduled to arrive in India next week to finalize the details of this historic trade agreement, which aims to establish a market of two billion consumers, surpassing the recently signed EU-Mercosur deal as the largest free trade zone globally.

(With inputs from agencies.)