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EU and India Near Historic Trade Deal
20 Jan
Summary
- EU and India are close to a historic free trade agreement.
- The deal would create a market of 2 billion people.
- A breakthrough would boost India's global supply chain position.
The European Union is nearing a significant free trade agreement with India, described as potentially "historic" by European Commission President Ursula von der Leyen. Substantial progress has been made in negotiations, although final details still require completion.
This proposed pact, which has been in development for years, aims to enhance economic connections across goods, services, investments, and regulatory cooperation between the EU and India. A finalized agreement would represent a major trade achievement for the EU in recent times.
Von der Leyen's upcoming visit to India is anticipated to accelerate discussions, possibly paving the way for a political agreement soon. The deal is projected to open a market of 2 billion people, contributing significantly to global economic activity.
