The European Union is a prominent trading partner of India with India’s Export to European Union worth US $ 50.42 billion and India’s imports from the European Union worth US $ 52.27 billion with total bilateral trade summing up to US$ 102.69 billion. Trade in services amongst the countries stands at € 22.2 billion. Also, the EU is also one of the largest sources of Foreign Direct Investment for India. FDI inflows from the EU into India increased from €3.5 billion in 2009 to €7.5 billion in 2010 and €14.19 billion in 2011.
In order to foster greater trade and bilateral relations between India and the EU, Ms. Rupa Naik, Executive Director, All India Association of Industries and Director-Projects, MVIRDC World Trade Centre announced the formation of an EU Desk jointly by All India Association of Industries and MVIRDC World Trade Centre Mumbai during an interactive meeting with H. E. Dr. Joao Cravinho, Ambassador of the European Union to India. The Desk is formed on the similar lines of a previously formed “China Desk” by the organizations.
The EU Desk is expected to facilitate bilateral trade, enhance communications, and disseminate information, exchange trade delegations and host trade fairs amongst the nations.
May 9, 2014