India-Europian Union relations are improving after Cold-War- Discuss.
Answers
The EU is India's largest trading partner with 12.5% of India's overall trade between 2015 and 2016, ahead of China (10.8%) and the United States (9.3%). India is the EU's 9th largest trading partner with 2.4% of the EU's overall trade. Bilateral trade (in both goods & services) reached €115 billion in 2017 [2] EU exports to India have grown from €24.2 billion in 2006 to €41.7 billion in 2017. India's exports to EU also grew steadily from €22.6 billion in 2006 to €44.2 billion in 2017.[3] The largest sectors being in engineering goods, gems and jewellery, other manufactured goods and chemicals. Trade in services have also tripled between 2005 and 2016, reaching €28.9 billion. India is among very few nations in the world that run a surplus in services trade with the EU. Investment stocks from Europe to India reached €51.2 billion in 2015.[4]
France, Germany and UK collectively represent the major part of EU-India trade.[5]