New Delhi, Jan. 21 -- The European Union (EU) is close to finalising a landmark free trade agreement (FTA) with India that could create a market encompassing nearly 2 billion people and around one-fourth of global GDP, European Commission President Ursula von der Leyen said on Tuesday.

Speaking at a special address at the World Economic Forum (WEF) Annual Meeting in Davos, Leyen described the proposed pact as a potential 'mother of all deals', highlighting its strategic and economic significance for Europe.

"Right after Davos, I will travel to India. There is still work to do, but we are on the cusp of a historic trade agreement," she said, adding that Europe aims to deepen ties with today's growth centres and the economic powerhouses o...