India and the European Union have agreed to finalize a long-pending free trade agreement this year and boost cooperation in trade, technology, connectivity and defense.

India and the European Union will try to seal a trade deal during this year, European Commission President Ursula von der Leyen said on Friday.

Von der Leyen said during a New Delhi visit that the bloc was considering a defense and security partnership with India. The EU is aiming to achieve a free trade agreement with New Delhi ahead of possible US tariffs.