Davos, Jan. 20 -- European Commission President Ursula von der Leyen on Tuesday stated the European Union is close to finalising a Free Trade Agreement with India and noted that some describe it "the mother of all deals".

Addressing the World Economic Forum in Davos, she stressed Europe's intent to expand trade and international cooperation.

She also referred to the scale of the proposed trade deal with India.

"There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of 2 billion people, accounting for almost a quarter of global GDP," von der Leyen said.

The President of the European Commission said she will travel to India next weekend. She s...