Of course. Here is the news article, written in the style of a senior financial correspondent.

---

India and the EU clinch the 'mother of all deals' in a historic trade agreement

NEW DELHI – After nearly twenty years of protracted negotiations, India and the European Union have finalized a landmark free trade agreement, a move set to reshape global economic alliances and create a powerful commercial corridor affecting nearly two billion people. The comprehensive deal, hailed by the EU chief as the "mother of all deals," aims to deepen both economic and strategic ties between two of the world's largest markets.

The historic accord was announced Tuesday against a backdrop of increasing geopolitical headwinds and trade protectionism, most notably from the United States. The pact signals a decisive move by both New Delhi and Brussels to forge alternate partnerships and secure their supply chains amid global uncertainty.

Why It Matters

This agreement unites two economic powerhouses that together account for a quarter of the world's GDP and a third of global trade. For businesses and consumers, it promises to dismantle significant trade barriers, lower costs, and create millions of jobs across the Indian subcontinent and the 27-nation EU bloc.

"This agreement will bring major opportunities for the people of India and Europe," Indian Prime Minister Narendra Modi stated, emphasizing the scale of the partnership.

The Big Picture: A Response to Global Turmoil

The timing of the deal is no coincidence. It serves as a strategic counterweight to disruptive trade policies that have strained traditional alliances. The impetus for the final push in negotiations was accelerated by ongoing trade friction with Washington.

• Strategic Realignment: The pact represents more than just commerce; it is a geopolitical statement. At a joint news conference, Prime Minister Modi emphasized that the partnership "will strengthen stability in the international system" during a time of "turmoil in the global order."

• Countering U.S. Protectionism: India is currently navigating steep U.S. tariffs, including a 25% levy on certain goods related to its continued purchases of Russian oil. The EU has also faced threats of punitive tariffs from the U.S. in recent years. This deal allows both to diversify their export markets and reduce reliance on a single, sometimes volatile, partner.

• A Message of Cooperation: European Commission President Ursula von der Leyen framed the accord as a story of "two giants" choosing partnership in a "true win-win fashion." In a post on X, she declared, "Europe and India are making history today. We have concluded the mother of all deals," adding that it sends "a strong message that cooperation is the best answer to global challenges."

Inside the Deal: Key Provisions

The agreement is one of the most ambitious ever signed by either India or the EU, covering a vast range of goods and services. It is designed to eliminate billions in tariffs and streamline regulatory processes.

• Comprehensive Tariff Elimination: The EU will phase out tariffs on nearly 99% of Indian shipments by trade value. In return, India is set to reduce or eliminate tariffs on 96.6% of goods originating from the EU.

• Automotive Sector Breakthrough: In a major victory for European, particularly German, automakers, India’s notoriously high import duties on cars will be slashed. Tariffs will gradually fall from as high as 110% to as low as 10%. Duties on auto parts will be completely eliminated over a 5-to-10-year period.

• Consumer and Industrial Goods: The agreement will see the removal of steep Indian tariffs on a wide array of European products. Duties on machinery (up to 44%), chemicals (up to 22%), and pharmaceuticals (up to 11%) will be mostly abolished.

• Wine and Spirits: European wine producers will gain significant access to the burgeoning Indian market, with tariffs on premium wines plummeting from 150% to just 20%. A quota system will also be applied to whisky.

• Indian Sector Gains: The deal is poised to boost India's key export industries, including textiles, apparel, engineering goods, leather products, and marine products, by providing them with preferential access to the massive EU consumer market.

Strategic Carve-Outs and Sensitivities

While comprehensive, the agreement respects critical domestic sensitivities on both sides, with certain key agricultural sectors being excluded from the free trade provisions.

• India's Exclusions: New Delhi has kept its dairy sector, including milk and cheese, as well as cereals, out of the deal to protect its vast and politically sensitive agricultural base.

• EU's Exclusions: Brussels will not grant concessional tariff access to Indian sugar, meat, poultry, or beef products, safeguarding its own agricultural standards and markets.

Beyond Commerce: A Deeper Partnership

The pact extends well beyond tariff lines, cementing a broader strategic alignment between the two partners.

• Defense and Security: India and the EU have agreed on a framework for deeper cooperation on defense and security matters, a significant step in an increasingly multipolar world.

• Mobility and Skills: A separate pact was concluded to ease mobility for skilled professionals, researchers, and students, fostering greater integration of human capital between the two economies.

By the Numbers

• Economic Clout: The combined India-EU market represents approximately 25% of global GDP.
• Trade Volume: Bilateral trade stood at $136.5 billion in the 2023-2024 fiscal year. The goal is to increase this to nearly $200 billion by 2030.
• Annual Tariff Savings: The deal is projected to cut up to €4 billion ($4.7 billion) in annual customs duties for exporters.
• Population Impact: The agreement’s framework will directly or indirectly affect the lives of a combined population of close to 2 billion people.

What's Next

With the political agreement sealed, officials will now undertake a legal review of the text. The deal will then require ratification by the European Parliament and formal signing by both sides.

Indian Trade Minister Piyush Goyal expressed confidence that the process would be swift, stating he expects the landmark agreement to officially come into force by the end of this year. Once implemented, the accord is set to create a new and stable commercial corridor, fundamentally reshaping global trade flows for decades to come.