MR Karel De Gucht,
the European Union Trade Commissioner met Anand Sharma, the Union Minister of
Commerce, Industry & Textiles, today. During the meeting Mr.Sharma said that
the India-EU Summit will further strengthen the two large economies of the world
and the proposed Biilateral Trade and Investment Agreement will give a flip to
an expanded and more diversified trade between the two sides. Both the leaders
met individually and with delegation to bring convergence to various issues and
iron out differences on trade related issues.
The
Minister noted that EU is an important trading partner of India and as a region
EU is India`s 3rd largest trading partner in the world. The exports growth is
30% in 2010- 11 which accounts for 53.494 billion US $. EU as a region is the
largest investor in India with FDI from EU totaling US $ 33.24 billion during
the period April 2000 to November 2011. Indian investments in EU nations have
been US $ 30 billion. India's export to EU was 18.64 % of its global trade
during 2010-11 & India's imports from EU was 12.05 % of its global trade in
2010-11
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