Why is India-EU free trade deal, one of India's longest-running trade talks, important?

Negotiations for India-EU free trade deal began in 2007, were suspended and then relaunched in 2022, making it one of India's longest-running trade talks. It represents 25% of world's GDP, one-third of the world's global trade and will create a market for two billion people. EU is India's biggest trade partner, with bilateral trade of over $135 billion (₹12,39,988 crore).