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Question

Q. In the context of India- European Union(EU) trade relations, Consider the following statements:

Which of the statements given above is/are correct?

A

1 and 2 only
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B

1 only
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C

2 and 3 only
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D

1, 2 and 3
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Solution

The correct option is B
1 only
Explanation:

Statement 1 is correct:
The EU is India's largest trading partner, accounting for €80 billion worth of trade in goods in 2019 or 11.1% of total Indian trade, on par with the USA and ahead of China (10.7%).

Statement 2 is incorrect: India and EU are currently negotiating a Broad-Based Trade and Investment Agreement.

Statement 3 is incorrect: The EU is the second-largest destination for Indian exports (over 14% of the total) after the USA.

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