'Will boost manufacturing, service sectors': India, EU finalise landmark trade deal; PM Modi hails 'mother of all deals'

India and the European Union have finalised a landmark trade deal that will represent a quarter of the world's economy, Prime Minister ​Narendra Modi said on Tuesday.

"Yesterday, a big agreement was signed between the European Union and India," Modi ​said.

"People around the world are calling this the mother of all deals. This agreement will bring major opportunities for the 1.4 billion people of India and the millions of people in Europe," ‌he added.

He also said that the agreement represents 25 per cent of global GDP and one-third of global trade.

India and EU are expected to make a joint announcement at an India–EU summit in New Delhi, along with the details of the deal, later today.