India-EU FTA Deal Nears: Major Announcement Expected on Republic Day

• Two top EU leaders, Antonio Luis Santos da Costa and Ursula von der Leyen, will visit India from January 25-28 for Republic Day.
• Speculation is rife that a Free Trade Agreement (FTA) between India and the European Union could be finalized during this visit.
• Ursula von der Leyen referred to the potential agreement as the "mother of all deals," creating a market of 2 billion people and a quarter of global GDP.
• A formal announcement regarding the successful completion of FTA negotiations is anticipated on January 27 during the India-EU Summit.
• This FTA would be India's largest deal to date, covering goods and services with the 27-nation EU, India's biggest export destination.

Why It Matters: India and the EU are on the verge of a historic FTA, with a major announcement expected around Republic Day.