India-EU Consultations on Disarmament & Non-Proliferation matters
India and the European Union (EU) held the sixth round of consultations on disarmament and non-proliferation matters on November 23, 2020. The consultation conference was held virtually.
- The consultations involves the exchange on developments in the fields of nuclear, chemical and biological disarmament.
- It also include the development on the non-proliferation, conventional weapons and outer space security issues.
- Both sides also held talks and consultations on the export control regimes, strategic stability environment and other developments of mutual interest.
Aim of the Consultations
The consultations is aimed at enhancing the mutual understanding and appreciation on international security issues between both sides.
The India-EU relations are defined by the EU-India Cooperation Agreement of 1994. The EU is a significant trade partner for India. Both sides are involved in negotiating a free trade deal since 2007. The trade between India and EU stood at US$104.3 billion during 2018-2019.
India-EU trade Relations
The EU is presently the India’s largest trading partner. The trade with EU stands at 12.5% of India’s overall trade as of 2016. This amounts to trade ahead of China (10.8%) and the United States (9.3%). India is also the EU’s 9th largest trading partner. EU’s trade with India stands at 2.4% of the EU’s overall trade. The exports from EU to India is growing since 2006. India’s exports to the EU have also grew steadily with the largest sectors of export being engineering goods, pharmaceuticals, gems and jewellery. Trade in services between both sides has also tripled between 2005 and 2016. India is among the few nations in that have a surplus in services trade with the EU.