Pakistan, Jan. 27 -- India and the European Union have finalised a long-awaited trade agreement, Indian Prime Minister Narendra Modi announced on Tuesday, calling it the "mother of all deals." The pact aims to strengthen economic ties and hedge against volatile trade relations with the United States.

Read More: Europe and India push for historic 'mother of all deals'

After nearly two decades of intermittent negotiations, the agreement will open India's large and tightly regulated market to free trade with the 27-nation EU, which is India's biggest trading partner. Trade between the two sides reached $136.5 billion in the fiscal year through March 2025.

"People around the world are calling this the mother of all deals. This agreement wi...