Question

Identify the common features of trade centres

Answer 1

Answer:

India is amongst the world’s fastest-growing large economies and is an important player in global economic governance. India is an important trade and investment partner for the EU. It represents a sizable and dynamic market, with an annual GDP growth rate of around 6% (pre-Covid-19).

Trade picture:

• The EU is India's largest trading partner, accounting for €80 billion worth of trade in goods in 2019 or 11.1% of total Indian trade, on par with the USA and ahead of China (10.7%).
• The EU is the second-largest destination for Indian exports (over 14% of the total) after the USA.
• India is the EU’s 10th largest trading partner, accounting for 1.9% of EU total trade in goods in 2019, well behind the USA (15.2%), China (13.8%) and the UK (12.6%).
• Trade in goods between the EU and India increased by 72% in the last decade.
• Trade in services between the EU and India increased rapidly from €22.3 billion in 2015 to €29.6 billion in 2018.

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