NEW DELHI (AP) — Prime Minister Narendra Modi said Tuesday that India and the European Union have reached a free trade agreement to deepen their economic and strategic ties.
The accord was concluded after nearly two decades of negotiations. It was dubbed the “mother of all deals” by both sides.
It touches a whopping 2 billion people and is one of the biggest bilateral engagements on commerce. The timing comes as Washington targets both India and the EU with steep import tariffs.
Modi says the agreement will bring major opportunities for the people of India and Europe. It represents 25% of global GDP and one-third of global trade.