00:00So it's been described then as the mother of all deals, the leaders of India and the European...
00:05...coming together in New Delhi to announce a huge new trade pact reached our...
00:10...after two decades of negotiations. That deal announced in the last half hour or so.
00:15As EU leaders headed there to rubber stamp it, the aim to help shield against...
00:20...challenges from the world's two leading economies, the United States and China.
00:25A while ago, in the last half hour, the EU president, Ursula von der Leyen, spoke as well.
00:29Let's hear exactly...
00:30...what she had to say.
00:32We did it. We delivered...
00:35...the mother of all deals.
00:38We are creating a market...
00:40...of two billion people.
00:43And this is the tale of two giants.
00:45...the world's second and fourth largest economies.
00:50Two giants who choose partnership in a true win-win...
00:55...it will create levels of growth that neither side...
01:00...can achieve alone.
01:01...and by combining these strengths...
01:03...and by combining these strengths...
01:04...
01:05...we reduce strategic dependencies...
01:08...at a time when trade is increasing...
01:10...weaponised.
01:11...of underline, they're talking a short while ago.
01:14We're going to cross...
01:15...we're live then to New Delhi...
01:16...talk to correspondent Navadita Kamari...
01:18...who joins us from then.
01:20...Navadita, as we just saw...
01:21...the deal has been signed...
01:22...lots of positive messages, of course...
01:24...not just from...
01:25...from Ursula von der Leyen...
01:26...but also from Narendra Modi.
01:28What's it going to mean then?
01:30...
01:32...yeah, definitely it is a land...
01:35...and mark deal...
01:36...which will reduce India's reliance...
01:38...on the US and...
01:40...and China amid...
01:42...an increasingly unpredictable...
01:44...geopolitical shift.
01:45...the deal will open significantly...
01:48...the European market for...
01:50...indian businesses...
01:51...particularly in manufacturing sectors...
01:53...like garments...
01:54...textiles...
01:55...gemstones...
01:56...and leather...
01:57...both sites are also...
01:59...expected to...
02:00...to sign a defence...
02:01...and security pact...
02:02...which will potentially...
02:04...lead to joint...
02:05...in defence manufacturing...
02:06...like jet engines...
02:08...sharing...
02:09...maritime intel...
02:10...and transfer of technology...
02:11...from the EU...
02:12...to India...
02:13...and that's why...
02:14...Indian...
02:15...Prime Minister...
02:16...Narendra Modi...
02:17...while announcing...
02:18...the deal...
02:19...hailed it as...
02:20...a very significant deal...
02:22...for India...
02:23...and called it...
02:25...the biggest...
02:26...free trade agreement...
02:27...in India's...
02:28...history...
02:29...he added...
02:30...that...
02:31...this deal...
02:32...is...
02:33...is going to...
02:34...make a...
02:35...huge...
02:36...progress here...
02:37...and will...
02:38...benefit...
02:39...the public of...
02:40...both Europe...
02:40...and India...
02:41...and serve...
02:42...as a prime example...
02:43...of...
02:44...a prime...
02:45...partnership...
02:46...between...
02:47...two...
02:48...major...
02:49...global...
02:50...economies...
02:51...and...
02:52...also...
02:53...economies...
02:54...economies...
02:55...economies...
02:56...economies...
02:57...india...
02:58...the fourth...
02:59...largest economy...
03:00...in the world...
03:01...and that's why...
03:02...it...
03:02...is...
03:03...being held...
03:04...even by the prime minister...
03:05...as a...
03:06...historic...
03:07...and...
03:07...landmark...
03:08...deal...
03:09...how would you say...
03:10...Navadita...
03:11...individual people...
03:12...and businesses...
03:13...as well...
03:12...of course in India...
03:13...are feeling about it...
03:17...oh well...
03:18...Indian people...
03:19...are thrilled...
03:20...there is a sense...
03:21...of relief...
03:22...and excitement...
03:22...along...
03:23...after...
03:24...a period...
03:25...of...
03:26...humiliation...
03:27...and...
03:27...setback...
03:28...many felt...
03:29...following...
03:30...the punitive...
03:31...tariffs...
03:32...of...
03:33...50%...
03:34...imposed...
03:35...by the Trump...
03:36...administration...
03:37...manufacturing...
03:37...sector...
03:38...especially...
03:39...government...
03:40...and...
03:41...textiles...
03:42...that...
03:43...is...
03:44...the second...
03:45...largest...
03:46...employer...
03:47...after...
03:48...the...
03:49...and...
03:50...no...
03:51...the...
03:52...the...
03:53...and...
04:06les
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