India, Jan. 21 -- India and the European Union are on the cusp of a "historic trade agreement" that would create a market comprising two billion people accounting for almost a quarter of the global GDP, European Commission President Ursula von der Leyen said on Tuesday.

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

The two sides are set to announce the conclusion of negotiations on the much-awaited free trade agreement at the India-EU summit on January 27.

In an address at the World Economic Forum in Davos, von der Leyen said Europe wants to do business with the grow...