Interviews
EU-India Business Summit in New Delhi
29 Nov '07
3 min read
In this speech delivered at the EU-India Business Summit in New Delhi, EU Trade Commissioner Peter Mandelson argues that an ambitious Free Trade Agreement between India and the EU could provide a big boost to both economies and share up global demand if the world economy begins to cool.
He says that reinforcing strong Indian economic growth was now an "integral part of maintaining global economic demand and a healthy global economy" and "a mark of India's growing weight in the world...India is now an indispensable part of the global economic architecture".
Urging European and Indian businesses to push for an ambitious outcome to the FTA negotiation launched earlier this year, Mandelson says: "Business on both sides should throw its weight behind a deal that does justice to the ambition we brought to the table a year ago".
At the heart of a deal: manufacturing, services, investment:
Mandelson argues that an EU-India FTA could provide a strong boost to the Indian manufacturing sector through new access to the European market and by making European industrial exports to India cheaper. Mandelson notes that 7 million Indians formally work in manufacturing compared to 100 million Chinese.
Mandelson argues that an EU-India FTA could help attract new EU investment to India, helping the Indian government to attract the investment it wants for infrastructure improvements: "European services companies bring with them capital, skills and experience that India wants".
He says that reinforcing strong Indian economic growth was now an "integral part of maintaining global economic demand and a healthy global economy" and "a mark of India's growing weight in the world...India is now an indispensable part of the global economic architecture".
Urging European and Indian businesses to push for an ambitious outcome to the FTA negotiation launched earlier this year, Mandelson says: "Business on both sides should throw its weight behind a deal that does justice to the ambition we brought to the table a year ago".
At the heart of a deal: manufacturing, services, investment:
Mandelson argues that an EU-India FTA could provide a strong boost to the Indian manufacturing sector through new access to the European market and by making European industrial exports to India cheaper. Mandelson notes that 7 million Indians formally work in manufacturing compared to 100 million Chinese.
Mandelson argues that an EU-India FTA could help attract new EU investment to India, helping the Indian government to attract the investment it wants for infrastructure improvements: "European services companies bring with them capital, skills and experience that India wants".
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