‘Mother of all deals’: EU and India sign free trade agreement

The European Union and India have announced a landmark trade deal after nearly two decades of on-off talks, as both sides aim to deepen ties amid tensions with the US (Source: Photo by PTI)

The European Commission said the agreement would eliminate tariffs on most exports of chemicals, machinery and electrical equipment, as well as aircraft and spacecraft, following phased reductions (Source: Photo by PTI)

The agreement is expected to double EU exports to India by 2032 by eliminating or cutting tariffs in 96.6% of traded goods by value, and would lead to savings of €4bn (£3.5bn) in duties for European companies, the EU said (Source: Photo by PTI)

European Commission President Ursula von der Leyen said at a media briefing in Delhi that they had done it and delivered the “mother of all deals.” Indian Prime Minister Narendra Modi described the deal as historic (Source: Photo by PTI)

Von der Leyen had previously stated that she expected exports to India to double after the deal, with the EU granted unprecedented access to the previously heavily protected Indian market (Source: Photo by PTI)

Prime Minister Narendra Modi asserted that the India-European Union trade deal will boost manufacturing in India and expand services-related sectors (Source: Photo by PTI)

Modi stated it will strengthen global business and investor confidence in India (Source: Photo by PTI)

PM Modi highlighted that sectors such as textiles, gems and jewellery, leather and jute are expected to benefit from the India-EU trade deal (Source: Photo by PTI)

He said the deal offers “massive opportunities” for 1.4 billion Indians and millions in European countries and represents about 25% of global GDP (Source: Photo by PTI)

Modi added that the agreement accounts for roughly one-third of global trade and represents a major economic synergy between India and the EU (Source: Photo by PTI)

Prime Minister Narendra Modi noted that the deal also strengthens the shared commitment of India and the EU to democracy and the rule of law (Source: Photo by PTI)