Which things of India were in high demand in European countries and kept on increasing ? Which system did Europeans implement to fulfil the demand and to take the benefit of situation ? the nera route one has in nase to come to India fror
Answers
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).
Explanation:
The EU is India's third largest trading partner, accounting for €62.8 billion worth of trade in goods in 2020 or 11.1% of total Indian trade, after China (12%) and the US (11.7%).The EU is the second-largest destination for Indian exports (14% of the total) after the USA.
India is the EU’s 10th largest trading partner, accounting for 1.8% of EU total trade in goods in 2020, well behind China (16.1%), the USA (15.2%), and the UK (12.2%).
Trade in goods between the EU and India increased by 72% in the last decade.
Trade in services between the EU and India reached €32.7 billion in 2020.The EU's share in foreign investment inflows to India more than doubled from 8% to 18% in the last decade, making the EU the first foreign investor in India.
EU foreign direct investment stocks in India amounted to €75.8 billion in 2019, which is significant but way below EU foreign investment stocks in China (€198.7 billion) or Brazil (€318.9 billion).
Some 6,000 European companies are present in India, providing directly 1.7 million jobs and indirectly 5 million jobs in a broad range of sectors