India receives $83b FDI from EU in 2000-17

FE Online Desk | Published: October 07, 2017 15:00:39 | Updated: October 24, 2017 13:37:52

Representational image (Photo- Collected)

India received around US$ 83 billion in Foreign Direct Investment (FDI) from Europe during 2000-17 constituting approximately 24 per cent of the total FDI inflow into the country.

The European Union (EU) is the country’s largest regional trading partner with the two-way trade in goods standing at USD 88 billion in 2016.

India and the EU have also been strategic partners since 2004, according to a global media report.

At the invitation of Indian Prime Minister Narendra Modi, the President of the European Council, Donald Franciszek Tusk, and the President of the European Commission, Jean-Claude Juncker, are now visiting New Delhi on a three-day visit scheduled for October 5-7.

They met in the14th EU-India Summit 2017 on Friday. The European Union pushed for adoption of a Free Trade Agreement to promote trade partnership with the continent being India’s single biggest trading partner as a bloc, reports the economic times.