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56<br />
India-EU: Creating Market Alliances<br />
India EU Trade & Investment Relations<br />
India – EU Trade & Investment Relations: Increased mutually supporting relations between EU-<br />
India fostering Trade and Unity<br />
EU is India's largest trading partner in goods and second largest<br />
trading partner in services (after the US). It’s also a source of<br />
advanced technology and a significant donor. In the last<br />
decade, both countries have come together to increase the trade<br />
relationship and thereby become stronger economic allies. EU<br />
and India have an institutional framework in place across levels,<br />
enabling decision makers to interact with each other, highlighted<br />
below:<br />
Annual EU-India Summit<br />
Senior-official level Joint Committee<br />
Sub-Commission on Trade<br />
Working groups on technical issues such as TBT, SPS,<br />
agricultural policy or industrial policy<br />
Driving force behind EU-India relations will continue to be trade<br />
and commerce. With the conclusion of the India-EU trade and<br />
investment agreement expected by the end of the year, trade is<br />
likely to grow significantly. High economic trade between the two<br />
countries creates a win-win situation for both, as there is<br />
immense potential to explore synergies. The India-EU bilateral<br />
trade 12 is expected to exceed € 70.7B by 2010 and € 160.6B by<br />
2015.<br />
EU -India, Trade in Goods, 2007- 2009<br />
(In € B)<br />
26.6<br />
29.5 29.5 31.6<br />
25.4<br />
27.5<br />
2.9 2.1 2.1<br />
2007 2008 2009<br />
Imports Exports Balance<br />
12 According to FICCI-Grant Thornton<br />
India <strong>Report</strong>, Europa<br />
www.ebtc.eu
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