The chief executive of Brussels-based trade group Eurochambres analyses whether the traditional trade agreement format is viable any more when it comes to India’s relationship with the European Union (EU).
India has become the world’s fastest-growing large economy. It is the world’s seventh-largest economy in terms of gross domestic product (GDP), overtaking the G7 members Canada and Italy as well as Brazil. In 2015 India’s economy expanded despite agriculture facing a second consecutive drought year, with the Asian Development Bank (ADB) estimating in July 2016 that the Indian economy was on track to meet its projected growth target of 7.4 per cent in 2016-17, supported by brisk consumer spending and an uptick in the rural economy.
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