The European Union and India have concluded a free trade agreement, European Commission President Ursula von der Leyen announced on X.

She described the deal as a historic milestone in EU–India relations. “Today, Europe and India are making history. We have concluded what can truly be called the ‘mother of all agreements’. We have created a free trade area covering two billion people, benefiting both sides,” von der Leyen said.

Earlier, speaking at the World Economic Forum in Davos, the European Commission President noted that the agreement would be unprecedented in terms of consumer reach. The deal is expected to create a market of around 2 billion people, accounting for nearly a quarter of global GDP.