As India and the European Union (EU) move closer to finalising a landmark free-trade agreement, Prime Minister Narendra Modi hailed the move, saying the huge pact — totalling about 25 per cent of global gross domestic product (GDP) — will boost the manufacturing sector and support services between two of the largest economies. The Prime Minister noted that the India-EU trade pact is being seen as the "mother of all deals" by many across the globe and said it will create major opportunities for businesses and people on both sides.
"A landmark agreement is being signed between India and the European Union. People in the world are discussing this as the mother of all deals. This agreement brings tremendous opportunities for India’s 1.4 billion people and the millions of people in European countries," he said, adding that for India it would boost sectors including textiles, gems and jewellery, and leather goods.
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