INDUSTRY INSIGHTS
investments will be able to reach Indian shores
with more clarity and abundance.
During the same event, Merkel also mentioned
that Germany will spend €1 billion in the next five
years on green urban-mobility projects that are
conceived under the newly envisaged German-
Indian partnership. While formal discussions
related to the FTA were suspended in 2013, an
FTA that will help both India and Europe in a
major way has long been pending (labour has
been one of the key issues, because of which the
FTA between the two countries has never seen
the light of the day.) Since 2013, however, India
and the EU have informally met at least nine times
to discuss the potential and possibilities of an
FTA. On August 5, both the countries met once
again to hold the discussion, which was the most
recent one that happened between them.
However, the fact that India already has free-
trade agreements with many countries has stirred
a great sense of hope among the European
countries waiting to partner with India.
IN THE LAST DECADE,
TRADE BETWEEN INDIA
AND EUROPE HAS
INCREASED BY 72
PER CENT.
Let us note that almost 18 per cent of Indian
exports land in Europe. This makes Europe one
of our largest trading partners, accounting for a
value of about €92 billion in the trading of goods,
as of 2018. Moreover, in the last decade, trade
between India and Europe has increased by 72
per cent. Given the prosperous business ground
that India presents to Europe, an FTA between
the two nations, as is believed, is sure to come
along. Once this is set in motion, India’s trading
aspirations will only find newer ground.
APPAREL
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December 2019
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