Why Indian exports to the European Union are likely to fall
Updated: 22 Aug 2022, 10:36 AM IST
TL;DR.The EU is the second-largest destination for Indian exports after the US. However, India still ranks as the tenth largest trading partner for the EU. In 2021, India accounted for 2.1 percent of total trade in goods for the EU well behind China (16.2%), the USA (14.7%), and the UK (10%).
After a decade of negotiations, Australia has signed a historic free trade deal with India, reducing its economic dependence on China.