India-EU Pact: The Mother of All Trade Deals

India and the EU finalized a historic trade deal set to open India's vast market to free trade with the EU. Announced by PM Modi and EU President von der Leyen, the agreement follows years of negotiations and promises significant opportunities for both Indian and European populations.

India and the European Union have reached a historic trade agreement, Prime Minister Narendra Modi announced on Tuesday. This landmark deal, described as the 'mother of all deals,' aims to open India's large and protected market to the 27-nation EU, which is India's largest trading partner.

Modi highlighted the global significance of the deal, stating it would provide significant opportunities for the 1.4 billion residents of India and the millions in Europe. A joint announcement by Modi and European Commission President Ursula von der Leyen is expected at an India-EU summit in New Delhi.

The agreement follows recent EU trade deals with other global partners and comes amid efforts to reduce reliance on U.S. economic ties, as past U.S. tariffs and diplomatic tensions have strained transatlantic relationships. Formal sign-off will occur after legal vetting in the coming months.