Pakistan, Jan. 20 -- The European Union is close to signing a free trade agreement with India, European Commission President Ursula von der Leyen said. She called it "the mother of all deals." The agreement would create a market of two billion people, representing nearly a quarter of global GDP.

Von der Leyen noted that while progress is significant, "there is still work to do" before the deal is finalized. She emphasized the EU's goal to diversify trade and strengthen economic ties with India. The deal is expected to cover goods, services, and investment protections.

Read more: India nears historic trade breakthrough with EU

The European Commission president will visit India early next week to advance negotiations. Indian officials sa...