European Union-India Trade Relation

Jhunjhunwalas

Posted on August 1, 2013 by Asia Briefing
 

By Nathan Barlow

Aug. 1 – During 2003-2011, the value of trade between the European Union (EU) and India nearly tripled from US$38.2 billion to US$105.9 billion, pushing the EU into the forefront as India’s leading trade partner. In fact, EU-India trade amounted to about 9.9 percent of India’s total bilateral trade just last year – reinforcing the EU as India’s largest trade partner. India, on the other hand, is the EU’s 9th largest trading partner.

Thanks to ongoing talks seeking a quick conclusion to a free trade agreement (FTA) between the countries, India-EU trade looks to become a defining feature of the international economic landscape.

Ongoing FTA Talks

Negotiations on the India-EU Bilateral Trade and Investment Agreement (BTIA) – which plans to eliminate duties on 90 percent of tradable goods – first began in 2007 and were set to conclude this past…

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