India is a fast-growing economy with a large and skilled workforce. India and the EU have been engaged in negotiations on a trade and investment agreement, and on civil aviation and maritime transport, since June 2007. These negotiations are part of a free trade agreement within the framework of the envisaged EU-India Partnership.
Whereas the EU services exports to India accounted for €6.7 billion, in 2007, the EU services imports from India amounted to €5.5 billion, in 2007. India’s growth is a result of the successive deregulation and liberalisation of the Indian economy after the financial crisis, in 1991.
The parameters for an ambitious FTA were set out in the report of the EU-India High Level Trade Group in October 2006. So far, five negotiating rounds have been held. The sixth round is foreseen from 17-19 March 2009 in Delhi, before the Indian Parliament elections in April.”
(Source: European Commission)
For further details on the FTA negotiations between the EU and India see the
- DG Trade’s website
- European Commission’s statistics
- Website of the Government of India
- European Commission’s Communication on an EU-India partnership (COM (2004) 430 final)
- Joint Press Statement of the Fifth EU-India Summit
- Joint Action Plan for EU-India partnership has provided guidelines for this partnership since 1994.
- Other studies have reinforced the economic potential of an FTA between the EU and India.
