EU and India: On the Brink of a Historic Trade Pact

The European Union is close to finalizing a free trade agreement with India, which could lead to a market of 2 billion people, accounting for nearly a quarter of global GDP. European Commission President Ursula von der Leyen emphasized the significance of this potential agreement during her speech at the World Economic Forum in Davos.

In a speech delivered at the World Economic Forum in Davos, European Commission President Ursula von der Leyen announced that the European Union is on the brink of signing a free trade agreement with India. While indicating that additional work is needed, she acknowledged the potential impact of the deal.

Von der Leyen emphasized the magnitude of the agreement, suggesting that it could be the 'mother of all deals.' If finalized, the agreement would create a combined market of 2 billion people, encompassing nearly a quarter of the global GDP, illustrating its global economic significance.

Reports suggest von der Leyen is scheduled to visit India early next week, signaling the critical phase that the negotiations have entered. The potential agreement marks a pivotal moment in the EU's strategy to diversify its trade relationships.

(With inputs from agencies.)