Home / Knowledge / News / Trade with EU to touch $572 bn under FTA by 2015, FICCI
Trade with EU to touch $572 bn under FTA by 2015, FICCI
04
Feb '08
India's trade engagement with EU could touch $572 billion under the FTA which is likely to be fully implemented by 2015, according to latest FICCI study on “India-EU Trade & Investment: Current Status and Issues”.

This engagement includes both trade in goods and services, in which trade in services would be having a major share of around 57% of the total trade.

FICCI study stated that India's trade in goods could be around $251 billion and trade in services around $320 billion with EU under the FTA by 2015.

However, FICCI study expressed concern over the growing trade deficit in goods between India and EU. FICCI said that trade deficit which was $492 million only in 2001-02 has spiraled to $3 billion by 2006-07, i.e. over 6 times.

FICCI study also emphasized the need for resolution of number of issues under the FTA negotiations for increasing the share of India's exports in EU market, both for goods and services.

Currently, India's share is only 1.8% in EU's world imports of goods, and only 1.3% in EU's world import of services, FICCI pointed out.

Some of the important barriers to trade and investment faced by Indian business in EU market are lack of harmonization of micro-biological standards in EU countries; costly certificates required for exporting fruits to EU; costly conformity procedures for CE mark; aflatoxin limits in groundnuts; delay in approvals by EC for Indian milk product units; Visa issues; lack of recognition of qualifications and work experience; VAT etc, according to FICCI study.


Must ReadView All

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X