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Today, the trade agreement being called the mother of all deals live from the UK.

This is the Marketplace Morning Report from the BBC World Service.

I'm Stuart Clarkson.

Good morning.

India and the European Union have agreed a major trade deal after nearly two decades of on-off negotiations.

The wide-ranging agreement will see a number of huge tariff cuts and a joint security partnership.

At a news conference in Delhi, India's Prime Minister, Narenda Modi, said it signalled a deepening of friendship between them.

The EU Commission President Ursula von der Leyen said the agreement would create a free trade zone of 2 billion people.

Let's bring in the BBC's Arunday Mukherjee, who's in Delhi.

Hi there.

Hi, Stuart. How's going?

Not too bad. So tell us about this deal. It sounds like it's quite a big deal.

Well, in their own words, they're referring to it as the mother of all deals.

I think the fact that both of these sides have managed to get this deal across the line

is in itself important, given the relationship that both of them have shared. The European Union

has been the largest trading bloc for India. Trade between both countries had crossed 135 billion

dollars last year. Both together are 25% of the global population, a fifth of global trade.

So you can just imagine that kind of statistic gives you a sense of why this relationship is important.

Which is why there was a lot of significance being attributed to these conversations that were happening,

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