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President of the European Commission, Ursula von der Leyen; European Council president, Antonio Luis Santos da Costa; and Indian prime minister, Narendra Modi, celebrated the conclusion of the agreement in January. EPA/RAJAT GUPTA/Shutterstock

The EU‑India agreement is huge – and it illustrates the changing role of trade in a fractured world order

The ‘mother of all deals’ aims to create a free-trade area covering nearly a quarter of the world’s population.