India, Jan. 23 -- As international trade is again threatened by turbulence in the form of tariffs, broken supply chains and geopolitical shifts, India and the European Union are on the cusp of finalizing one of the most significant trade deals of the current decade. Dubbed by both sides as the "mother of all deals," the proposed trade agreement between India and the European Union has the potential to redefine the economic relationship between two regions that account for nearly two billion people and about 25% of global GDP.

It is the magnitude of the agreement that makes it unique and the EU is India's biggest trading partner and India is one of the EU's biggest international partners. The value of bilateral trade in goods reached USD ...