New Delhi: Stressing the importance of the links between India and the European Union as a “stabilization factor” in the midst of global volatility and uncertainty, the Minister of External Affairs Jaishankar said that the relationship between the two is “More important than ever”.
According to the annual speech of the Iic-Bruegel, the annual Iic-Bruegel seminar in Delhi, the Minister of Foreign Affairs also underlined the interaction with the European Commission, expressing expectations for a collaboration even in the future.
“In a world that promises to be so volatile and uncertain, a stronger India-EU relationship can be an important stabilization factor. India is certainly aware of the greatest strategic awakening of Europe in recent years .
He has added: “In recent years, there has been a more intensive commitment with the European Commission. We expect it to be even more in the coming days.”
In particular, India and the EU are two of the world’s largest economies that have shared synergies and offering important commercial and investment opportunities. The EU is the largest trading partner in India and India is the EU’s 9th trading partner in terms of bilateral goods.
According to the European Union delegation to India and Bhutan, in 2023, the total value of the EU-India trade in goods was 113.3 billion euros. The EU is the main export destination for Indian goods. India has exported to EU goods of Euro 64.9 billion value, while it imported EU goods worth 48.4 billion of euros, thus benefiting from an exchange of excess goods of 16.5 billion euros.
The main elements of export from the EU to India are as follows: machines and mechanical devices, planes, spaceship and parts, machines and electrical equipment. The main import items from India to the EU are: machines, transport equipment, chemicals and related products. (Ani)
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