India-EU trade deal: Both camps to give each other Most Favoured Nation status for 5 years

According to the World Economic Forum, the deal, which aims to remove trade barriers and open up new export opportunities, creates the world’s largest free trade zone, encompassing two billion people and nearly 25 per cent of global gross domestic product.

New Delhi: Recently, India and the European Union (EU) reached a landmark free trade deal which is touted as one of the world’s most ambitious trade pacts. Now, both nations will extend Most Favoured Nation status to each other for five years once their trade agreement takes effect.

The information has been revealed by a draft of the deal on Friday. A month ago, European Commission President Ursula von der Leyen and European Council President Antonio Costa visited New Delhi to meet Prime Minister Narendra Modi to give the trade........

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