“The EU and India make history today, deepening the partnership between the world’s biggest democracies. We have created a free trade zone of 2 billion people, with both sides set to gain economically”. This is what European Commission President Ursula von der Leyen said following the historic signing. “We have sent a signal to the world that rules-based cooperation still delivers great outcomes. And, best of all, this is only the start – we will build on this success, and grow our relationship to be even stronger”. With a reference to both Trump’s tariffs, that hinder international trade, and the Mercosur agreement on economic and trade relations, signed by the EU and Latin American countries, which is still being examined by the institutions in Brussels.

A statement from the Commission reads: “The EU and India concluded negotiations today for a historic, ambitious and commercially significant free trade agreement (FTA), the largest such deal ever concluded by either side. It will strengthen economic and political ties between the world’s second and fourth largest economies, at a time of rising geopolitical tensions and global economic challenges, highlighting their joint commitment to economic openness and rules-based trade”. According to the Commission, the EU and India already trade over €180 billion worth of goods and services per year, “supporting close to 800,000 EU jobs”.