The European Union is on the verge of concluding a free trade agreement with India, although work remains to get it over the line, European Commission President Ursula von der Leyen has said, in a speech at the World Economic Forum in Davos in Switzerland.
"There is still work to do. But we are on the cusp of a historic trade agreement. Some call it the mother of all deals. One that would create a market of two billion people, accounting for almost a quarter of global GDP," she said in a section of her speech on EU efforts to diversify its trade.
Ms von der Leyen is expected to visit India early next week.
Meanwhile, Chinese Vice Premier He Lifeng has warned the world must not revert to the "law of the jungle", as the US steps up its bid to acquire Greenland.
"A select few countries should not have privileges based on self-interest, and the world cannot revert to the law of the jungle where the strong prey on the weak," Mr He said in a speech which came as US President Donald Trump pushes his increasingly assertive 'America First' agenda, and demands NATO ally Denmark to cede Greenland to him.
"All countries have the right to protect their legitimate interests."
In a veiled reference to Mr Trump's mercurial trade policies, Mr He criticised the "unilateral" actions and trade agreements of "some countries" which he said violates the rules of the World Trade Organization.
China and the US last year were locked in a trade war that saw both countries impose tit-for-tat tariffs on each others' products.
"The current multilateral trading system is facing unprecedented and severe challenges.
"We must firmly uphold multilateralism and promote the improvement of a more just and equitable international economic and trade order," Mr He said.
The US has sent an unusually large delegation to Davos, in a sign that it wants to make its presence felt at the summit for global economic and political leaders.
US Treasury Secretary Scott Bessent and other US officials will attend panels at the forum's congress centre but also at the 'USA House', a venue inside an old church on the glitzy promenade of the mountain retreat.
Canadian Prime Minister Mark Carney, who has sought to reduce his country's reliance on the United States in its own tariffs feud with Mr Trump, will also speak in Davos.
As US ties fray, Mr Carney turned the page on years of diplomatic tensions with China during a visit to Beijing last week, securing a preliminary trade agreement to reduce tariffs.
Other flashpoints on the WEF agenda include the crises in Venezuela, Gaza, Ukraine and Iran.
UN chief Antonio Guterres, a Davos regular, cancelled his participation after coming down with a "bad cold", his office said.
