India and European Union Agree on ‘Mother of All Deals’ Trade Agreement

**Islamabad (Qudrat Daily):** India and the European Union have reached an agreement on a major trade deal, described by both sides as the “mother of all deals.”

According to the European Union, the agreement will reduce or eliminate tariffs on nearly 97 percent of European exports, resulting in annual duty savings of up to €4 billion.

Indian Prime Minister Narendra Modi, speaking in New Delhi after meeting European Commission President Ursula von der Leyen and European Council President Antonio Costa, called the agreement the “mother of all deals.” He said the pact would create countless opportunities for India’s 1.4 billion people as well as millions across the European Union.

EU officials said the agreement is India’s most comprehensive and wide-ranging trade deal to date, and is expected to benefit key European sectors including agriculture, automobiles, and services.

According to a foreign news agency, the deal also includes a security partnership, which is likely to open new opportunities for defense companies.

Prime Minister Modi said the agreement would also boost India’s textile industry, precious stones and jewelry sector, leather goods, and services sector.

Quoting an Indian official, the foreign news agency reported that after completing legal requirements, the agreement could be formally signed within the next five to six months.