'Mother of All Deals' Sealed: India And EU Sign Historic Free Trade Pact
The India-EU free trade agreement – which European Commission President Ursula von der Leyen called "the mother of all trade deals" – has been sealed, Prime Minister Narendra Modi said Tuesday afternoon European Council President Antonio Costa and the PM signed a declaration to that effect.
In a post-signing statement on X the PM said two of the world's biggest democratic trading blocs – with trade valued at US$ 213 billion – had "sealed the biggest FTA in our history". The PM said, "We have taken a lot of decisions that will help people… the India-EU trade deal is a blueprint for mutual growth."
He also noted an estimated eight lakh Indians living in the EU will benefit greatly.
"Today, India has concluded the largest Free Trade Agreement in its history. Today is January 27 and it is a happy coincidence that, on this day, India is signing this FTA with 27 countries of the European Union. This is not just a trade agreement... it is a new blueprint for shared prosperity," the PM said.
