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India-EU Trade

  • The EU is India's largest trading partner, accounting for €80 billion worth of trade in goods in 2019 or 11.1% of total Indian trade, on par with the USA and ahead of China (10.7%).
  • The EU is the second-largest destination for Indian exports (over 14% of the total) after the USA.
  • India is the EU’s 10th largest trading partner, accounting for 1.9% of EU total trade in goods in 2019, well behind the USA (15.2%), China (13.8%) and the UK (12.6%).
  • Trade in goods between the EU and India increased by 72% in the last decade.
  • Trade in services between the EU and India increased rapidly from €22.3 billion in 2015 to €29.6 billion in 2018.
  • 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 €68 billion in 2018, which is significant but way below EU foreign investment stocks in China (€175 billion) or Brazil (€312 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.
  • Indian companies invested over €50 billion in Europe since 2000.

Table 1: India’s trade with EU
Value in US$ million
 
Year 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-20
India’s Export to EU 49491.7 44572.2 47292.1 53597.9 57172.3 53723.8
Growth %   -9.9% 6.1% 13.3% 6.7% -6.0%
India’s import from EU 49236.4 43934.1 42384.6 47873.4 58425.1 51203.0
Growth %   -10.8% -3.5% 13.0% 22.0% -12.4%
India total trade with EU 98728.1 88506.3 89676.6 101471.3 115597.4 104926.8
Source: DGCI&S


Table 2: Top 15 engineering products exported to EU (Value in US$ million)
 
Top 15 Engineering Sectors 2018-19 2019-20 Growth%
Electric Machinery and Equipment 2641.7 2566.8 -2.8%
Iron and Steel 2606.0 2113.0 -18.9%
Products of Iron& Steel 1883.1 1759.1 -6.6%
Auto Components/Part 1202.6 1105.4 -8.1%
Industrial Machinery and parts 978.0 929.8 -4.9%
Other Misc Items 694.5 660.4 -4.9%
Ships, Boats and Floating bodies 153.3 659.1 330.1%
IC Engines and Parts 801.5 607.3 -24.2%
Aircrafts & Spacecrafts 676.7 490.1 -27.6%
Aluminium and products 946.0 470.6 -50.2%
 Medical and Scientific Instruments 446.2 402.7 -9.8%
Machinery for ATMs 363.3 398.2 9.6%
Motor Vehicle/cars 746.1 380.8 -49.0%
Hand Tools & Cutting Tools 269.6 232.3 -13.8%
Other Construction Machinery 262.9 215.3 -18.1%
Total of top 15 products 14671.6 12991.0 -11.5%
Total engineering export to EU 16184.7 14352.9 -11.3%
Share % 90.7% 90.5%  
Source: DGCI&S
 
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