The official said trade with India formed under 3% of the E.U.’s global trade, which is “far below” what was expected of the relationship. Conversely, the E.U. is India’s largest trading partner and investor, and accounts for 11% of India’s global trade. The official also said the E.U. has reservations about the model “Bilateral Investment Treaty” (BIT) that New Delhi has proposed, especially on dispute mechanisms in Indian courts.
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Unknown titleCOVID-19 crisis and recent pronouncements that India wants to go ‘Self reliant’, didn’t help the situation,” the official said, referring to Prime Minister Modi’s launch of “Atmanirbhar India”. <span>The official said trade with India formed under 3% of the E.U.’s global trade, which is “far below” what was expected of the relationship. Conversely, the E.U. is India’s largest trading partner and investor, and accounts for 11% of India’s global trade. The official also said the E.U. has reservations about the model “Bilateral Investment Treaty” (BIT) that New Delhi has proposed, especially on dispute mechanisms in Indian courts. Speaking about the importance of multilateralism and cooperation on global forums, the officials said the E.U. had welcomed India’s election to the U.N. Security Council next year, and Summary
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