Indian grapes

Indian grape growers could benefit from an FTA with the EU

Positive signs have emerged from recent trade talks between India and the EU consensus on a Free Trade Agreement could soon be reached.

“The EU-India Free Trade Agreement will be the single biggest trade agreement in the world, benefiting 1.7bn people,” said European Commission president Jose Manuel Barroso. “It would mean new opportunities for both Indian and European companies. It would mean a key driver for sustainable growth, job creation and innovation in India and Europe.”

Currently the EU is India's largest trading partner, accounting for about US$113bn of trade in goods and services in 2010, according to a report by the European Commission. Bilateral trade in goods rose by 20 per cent between 2010 and 2011.

India has climbed from 15th to eighth in the list of the EU's main trading partners since 2002. The EU exported almost US$46bn of goods to India and imported US$43 in 2010.


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