India, Jan. 27 -- India and the European Union (EU) on Tuesday (January 27) sealed a long-anticipated Free Trade Agreement (FTA), heralded on both continents as a transformative pact linking two major economic powers comprising roughly 25% of global GDP and one-third of world trade.

Described by EU leaders as the "mother of all deals", the accord eliminates or substantially reduces tariffs on an exceptionally broad range of goods and services, and deepens commercial, strategic and people-to-people ties.

This breakthrough comes at a time of heightened global trade turbulence, marked by aggressive protectionist policies in Washington and intensifying economic competition with China.

India's FTA with the EU now stands as a defining moment...