The EU is in a prime position when it comes to global trade: it is the world's largest economy. Its 27 Member States form a single market of 450 million citizens and more than 20 million businesses. It is also the largest trading block in the world. India became the fifth largest economy in the world in 2019 and offers huge opportunities, with its population of 1.3 billion people and growing middle class. Both India and EU have vast domestic markets and a strong entrepreneurial tradition. There is enormous potential for both sides to benefit from reinforced trade, economic and investment relations.

The EU is a primary trade and investment partner of India. Bilateral trade in goods and services amounts to €107 billion with a growing share for services. It is a relationship with balanced import and export flows-which proves the complimentarity of the EU and Indian economies.

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