India's Largest Trade Partners in EU
Context:
Prime Minister Narendra Modi and European Commission President Ursula von der Leyen formally announced the completion of negotiations for the India-EU Free Trade Agreement (FTA).
The talks, which began in 2007, were fast-tracked in the last six months due to shifting trade winds.
Top EU Trade Partners:
Country
India's Exports ($ mn)
Key Fact
Netherlands
22,763
Largest export destination in the EU for India.
Germany
10,629
Second largest; a key industrial partner.
France
7,960
Significant strategic and trade partner.
Belgium
6,320
Major hub for diamond and trade transit.
Spain
4,764
Notable export market.
Poland
2,619
Emerging partner in Central Europe.
Sweden
1,262
Key Nordic partner.
Key Trends:
India maintains a robust trade balance with the Netherlands.
Germany remains a powerhouse for both exports and imports.
The completion of the FTA is seen as a move to mitigate the impact of "US protectionism" and "Chinese overcapacity"