Berlin: Seeking to improve trade and investment between Europe and India, the European Union will host a major business summit in Brussels Wednesday.
The summit, Trade and Investment Partnership Summit (TIPS 2013), will be held at the European Parliament, organised by the Brussels-based Europe India Chamber of Commerce (EICC) in collaboration with Eurochambres and Indian Chamber of Commerce.
The summit will be the largest business event in the context of India and European business relations of 2013 and will provide the highest level platform for a concrete and constructive dialogue in the context of improving trade and investment between EU and India, EICC said in a statement.
In addition to general trade and investment climate and opportunities in India, the specific sectors the TIPS will discuss are Infrastructure, Renewable Energy, Retails and Pharmaceuticals.
The two-way trade between India and 27-nation European bloc stood at USD 91.3 billion in 2010-11. The value of EU-India trade grew from 28.6 billion euros in 2003 to 79.9 billion euros in 2011.
EU investment in India more than tripled between 2003 and 2010; going from 759 million euros in 2003 to 3 billion euros in 2010.
Trade in commercial services tripled during the same time period, going from 5.2 billion euros in 2002 to 17.9 billion euros in 2010.
First Published: Tuesday, October 15, 2013, 18:23