European Commission President Ursula von der Leyen said the European Union is on the verge of concluding a free trade agreement (FTA) with India, signalling that the historic pact could be signed soon.Speaking at the World Economic Forum (WEF) in Davos on Tuesday, January 20, von der Leyen said: “There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of two billion people, accounting for almost a quarter of global GDP.” She added that the agreement would diversify EU trade and strengthen ties with one of the world’s fastest-growing economies.
Von der Leyen is expected to travel to India early next week and will be the chief guest at the Republic Day parade on January 26, alongside other European leaders.
Commerce and Industry Minister Piyush Goyal also described the proposed EU-India FTA as the “mother of all deals.”“We have done FTA deals with seven developed countries so far. This one (EU) will be the mother of all. It will cover two of the world’s most powerful economies. We have very good growth possibilities,” Goyal said in New Delhi.
Von der Leyen is expected to travel to India early next week and will be the chief guest at the Republic Day parade on January 26, alongside other European leaders.
Commerce and Industry Minister Piyush Goyal also described the proposed EU-India FTA as the “mother of all deals.”“We have done FTA deals with seven developed countries so far. This one (EU) will be the mother of all. It will cover two of the world’s most powerful economies. We have very good growth possibilities,” Goyal said in New Delhi.
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The comments underscore the ambition of both sides to finalise a landmark trade agreement that could reshape economic relations between Europe and India.
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