Indian Trade Minister Anand Sharma said on Friday he would endorse a draft trade reform at the World Trade Organization, removing a major obstacle to a deal.
"It is a victory for the WTO and for the global community to have arrived at a mature decison," Sharma told reporters. "We are more than happy. It is a great day. It is a historic day."
The first global trade reform since the creation of the World Trade Organization is ready for agreement by ministers from the body's 159 member countries later on Friday, sources involved in the talks said.
WTO Director-General Roberto Azevedohas drafted a text that he will submit to the full membership, signalling that he believes he has found terms that are acceptable to all members, including India which had raised vocal objections over agriculture.
(Read more: US, Europe still positive on WTO deal prospects)
Barring any last-minute veto, the deal aims to slash red tape at customs around the world, give improved terms of trade to the poorest countries, and allow developing countries to skirt the normal rules on farm subsidies if they are trying to feed the poor.
It would also revive confidence in the WTO's ability to negotiate global trade deals, after a string of failures that left the body at risk of sliding into irrelevance.