New Delhi (HRNW)- India and the European Union have finalized a long-awaited historic trade agreement. Indian Prime Minister Narendra Modi described it as the \u201cmother of all deals,\u201d stating that it will create vast economic opportunities for millions of people in India and Europe.<\/p>\n
The deal, reached after nearly two decades of negotiations, will allow India to open its large but protected market to the 27-nation European Union under free trade. The EU is currently India\u2019s largest trading partner. The Prime Minister and European Commission President Ursula von der Leyen will jointly announce the agreement\u2019s details at the India-EU summit in New Delhi. The India-EU trade volume reached $136.5 billion by the end of the financial year 2025.<\/p>\n
Indian officials stated that formal signing will follow legal scrutiny, expected to take five to six months, with implementation likely within a year. Experts say the deal will boost India\u2019s exports in labor-intensive sectors while giving European products a competitive price advantage in the Indian market. The agreement also strengthens India-EU partnerships amid uncertain trade conditions with the United States.<\/p>\n
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