Since 1960, ties between Europe and India have been deep, in fact India was one of the first countries to establish diplomatic relation with the European Economic Community and signed in 1994 a cooperation agreement to go further in trade and economic cooperation. This cooperation has evolved and developed into strong trade and investment relations that continue to grow across sectors. Learn more about the bilateral trade and investment ties: https://eeas.europa.eu/delegations/india/670/india-and-eu_en
India is situated between the Middle East, Central Asia, China, and Southeast Asia which makes it a strategic location in the era of the ‘global economy’
With an annual GDP growth rate of around 7.1% in 2016 (World Bank) India is one of the fastest growing economies in the world. It is currently ranked 7th (World Economic Forum 2017), and with its ongoing momentum is expected to become the third biggest economy by 2030 and the second by 2050 (World Economic Forum). The economic reforms planted by the Government in key areas are taking shape in various initiatives and programmes that spur economic empowerment and growth pan-India.
According to the UNCTAD’s Investment Trends Monitor (2018), India is the 10th largest recipient of global FDI (EUR 31.7 billion) in 2017 and remained the topmost destination for greenfield capital investment (even ahead of China and the US). Announcement of National Intellectual Property Rights (IPR) policy, the Make in India Programme, Clean India Mission, the implementation of Goods & Services Tax and several reforms for increased ease of doing business (raking among top 100 countries) have laid the strong foundation for foreign investment with FDI equity inflow growing at 8.7% in 2016-17.
India has the second largest population in the world (1.3 billion) and is set to overtake China within ten years. Consumer spending in India grew from 293 billion USD in 2015 to 407 billion USD in 2018 (CEIC Data), and a new middle class is rising, whose members can be counted in hundreds of millions. Moreover, 66% of the population in 2017 is of working age (15 to 64 years old) (Statista), with a strong knowledge base, and fluency in English which is already the language of business all over India.
HOLISTIC SET OF REFORMS
From industry to smart cities, to transport, to environment, to energy, or to the digital economy - India has formulated more than x Missions, Programmes and Initiatives pan-India in alignment with a targeted development and growth strategy. This offers European entities an enabling environment for entering into cooperation or exploring investment opportunities.
Contact us to learn more about opportunities of collaboration between India and Europe.