India, Jan. 23 -- India and the European Union are on the verge of clinching a long-awaited Free Trade Agreement (FTA), with an announcement expected on Tuesday at the India-EU Summit in Delhi.

European Commission President Ursula von der Leyen and the President of the European Council, Antonio Costawill, be in India from January 25 to 27 as Republic Day chief guests, and hold summit talks with Prime Minister Narendra Modi.

This would mark a major milestone in India's trade diplomacy and deepen economic ties with one of the world's largest trading blocs.

Once signed and ratified by the European Parliament, a process that could take at least a year, the agreement is expected to significantly expand bilateral trade. It could provide a ti...