India and the European Union on Friday agreed to conclude a free trade deal by the end of the year, their first commitment to a deadline on talks that have been going for years, as they look to soften the effect of tariff increases from the United States.

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.