Dubbed by India as “the mother of all deals,” the agreement would link markets representing nearly two billion people, creating one of the world’s largest trade frameworks. Supporters argue the pact could deepen economic ties and help rebalance trade flows between the two sides. India is currently the EU’s ninth-largest trading partner, with bilateral trade in goods worth around 120 billion euros annually, despite having a population of nearly 1.5 billion. Analysts, however, caution against expecting immediate or transformative effects. While India is likely to reduce tariffs in selected sectors, including vehicles and alcohol, its gains are expected to be concentrated in labor-intensive industries such as textiles, clothing, gems, and leather goods. Experts say the agreement’s real impact will depend on implementation and market access over time, rather than headline figures alone.