New Delhi, Jan. 26 -- India and the European Union are expected to formally announce a long-awaited trade agreement at the India-EU Summit on Tuesday, and this deal is projected to significantly expand bilateral trade and drive strong growth in Indian exports over the next decade, Deloitte India partner Gulzar Didwania told ANI today.

"This deal is dubbed as the 'Mother of All Deals' because of obvious reasons. EU is India's second largest trading partner," Didwania said, adding that "Over the next decade, the current trade of 135 billion dollars is expected to cross 250 billion dollars."

Didwania said the agreement could significantly scale up bilateral trade volumes over the coming years and the export gains would be substantial.

"An...