Business

Prime Minister Narendra Modi announced that the upcoming free-trade agreement between India and the European Union (EU) will greatly enhance manufacturing and support services for both of these major economies. He referred to the trade pact as the “mother of all deals,” a title that many around the world have embraced. Modi highlighted that this agreement will work in conjunction with the trade deal India signed with Britain last year. He stated, “The India-EU agreement is being called ‘the mother of all deals.’ The India-EU Free Trade Agreement complements the India-UK trade deal. It will boost the manufacturing sector and support services.” This statement was made during the launch of energy week earlier today. India and the EU have recently wrapped up negotiations on this proposed free trade agreement (FTA), which aims to increase mutual trade and strengthen their economic relationship. Both parties view this deal—expected to be announced today—as balanced and forward-looking.