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According to Commerce and industry Minister Kamal Nath, a landmark trade and investment agreement will be reached by India and the 27-nation European Union by next year, and bilateral commerce between the two sides will be doubled to $100 billion. “We are planning to double India-EU trade to $100 billion in another five years,” Nath said in Marseilles.
The trade between India and the EU is currently estimated at around $50 billion.
“We are confident of concluding a trade and investment agreement with the EU next year,” said the minister. “It is going to be the biggest ever trade agreement between any two sides. India is a trillion dollar economy and the EU economy is over $12 trillion. It's going to bring enormous benefits to both sides.”
Prime Minister Manmohan Singh leading the Indian delegation is currently in France.
India and the EU began their ninth summit in this port city of France. The two-day talks will culminate in the signing of a joint statement and a revised plan of action to improve their relationship. (Source: Sify)
October 2, 2008
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