Brussels, Jan. 26 -- In an interview with Euro News ahead of a high-level EU-India summit, European Union Trade Commissioner Marcos Sefcovic said the long-awaited free trade agreement with India is "very close" and could significantly open the Indian market to European firms.

Sefcovic described the prospective pact as the "mother of all deals," noting that negotiators are "checking their final numbers" as the European bloc pushes to reduce India's steep import duties that can reach up to 150 % in some sectors.

"In some sector, India has tariff going up to 150%. And therefore, big parts of the economy has been completely closed off to the European exporters," he said, adding: "Now the big benefit will be opening the economy."

According ...