India maintains a first in developing relations with the European Union. Presently, the EU and India have a very cordial relationship which allows free trade agreement between the two. These relations were initiated in 1973 when the two nations signed a bilateral agreement. Since then, an agreement was signed in 1994 and an action plan in 2005 to take care of any necessary changes and requirements between the open trade that the two countries allow.
Twenty percent of the Indian trade is done with the European Union making it the largest partner for the Indian Republic. The Commission proved its level of maturity in 2006 when the opposition by France and Luxembourg for the take over bid of Mittal Steel Company over Arcelor came out in the global market. However, the cause of the successor was supported by the Union due to competition being the only criteria. In addition to this, one can see that India and the British are one of the largest investors for one another and have mingled to a great extent when it comes to the human grounds too, by giving equal rights to the citizens of the other. |
