3rd-7th MARCH, 2025 | 10:00AM-7:00PM
Overview
European countries have been one of the largest contributors of the FDI India. They offer opportunities in terms of technology sharing and techno-know-how providing high level synergies in sectors where European countries are the world leaders. India has a lot to gain from an FTA with the EU, particularly in regard to preferential and duty-free access to the European market. A sustainability impact assessment, commissioned by the EU indicates that an extended FTA would result in significant benefits to both parties in terms of welfare gains, production, international trade, wage & productivity increases.
Europe is India's second largest trading partner has consistently been among India’s top (10-12) global partners accounting for US$ 185 billion worth of trade in goods in 2022-2023 or 21.8% of total Indian trade. By means of the Strategic Partnership, India and the EU launched a ‘Roadmap to 2025’ to help guide joint action between the regions and further augment their association. The roadmap to 2025 showed the importance of global connectivity and the impact of cooperation on human lives for both the EU and India. In the time of global crisis during the COVID19 pandemic, India provided essential medicines such as paracetamol and Hydroxychloroquine to many European Union member states, including France, UK, Germany, Italy and Netherlands.
In the same vein, India was supported with critical medical equipment by EU member states during the deadly 2nd wave of the pandemic in the country. India’s total export with the various countries of Europe region stood at US$ 78.04 billion whereas total import from the region stood at US$ 60.04 billion during the year 2023-2024 (Apr – Jan).
Objective
In today’s world, when economic structure of any nation is considered as benchmark of any country, India-European relations are growing strength to strength and trade and investment relations have seen significant changes and has been defined by deepening integration over the past decade. A regular and effective political and business dialogue has helped reach a balanced and forward-looking relation. The Session will deliberate on how Indian Industry can leverage from the expertise of the European counterparts, while highlighting Indian competence in attracting European FDI & measures to further bilateral trade.