India and European Union: Scripting an Economic Miracle

Abstract

This paper highlights the international trade relationship of India with European (EU). EU was India’s largest trading partner, whereas India was EU’s 9th largest in the year 2014. Bilateral trade of India-EU in goods in 2014 was € 72.52 billion (Indian exports € 37.07 billion and Indian imports € 35.45 billion) with a trade balance of € 1.62 billion in favour of India. India and EU have inked a series of bilateral agreements and MoUs in science and technology, ICT, employment and social affairs, civil aviation, energy, research and innovation etc. Both sides are cooperating in the fields of energy security, science and technology, agriculture, pharmaceuticals and biotechnology, and ICT.