trade between india and european union- final project

8/18/2019 Trade Between India and European Union- Final Project

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Introduction

The republic of Indian maintains an ongoing dialogue with

the Supranational Institution of the European Union which is separate from

the bilateral relation with sovereign member states of the European Union.

In Asia, the positive public perception of Europe is highest in India. India, the

world's most populous democracy, has strong and effective strategic

partnerships with rance, U! and "ermany. The foremost areas of

programmed India#EU#$% cooperation are in the domains of education &

cultural echanges, (oint#research in science & technologies and law#

enforcement.

India in Europe)

Europe is an important destination for Indian students see*ing to pursue under#

graduate and post#graduate education overseas. United !ingdom is the prime

destination for Indian students within the European Union. Ayurvedic

traditional medicine and +oga have been popular in Europe since its

introduction into Europe in the mid#-th century.

Indian fine arts and culture is well received in Europe. India has regularly held

cultural events in Euro endian multinational companies operating in industrial

engineering and IT domains are spreading their mar*ets to cover Europe via

both /uality#price competition and innovative substitutes.

Europe in India)

0angalore, 1yderabad, hennai and 2une have a steadily growing base of

European epatriates who have created niche high#value#addition Small and

medium#si3ed enterprises in engineering, biotechnology and IT sectors

as (oint ventures with Indian partners. European start#up ventures in ITtechnology increasingly use Indian bac*#offices and development centers


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during their *ic*#off phase to maimi3e seed money. Some European actors

have focused their acting careers on 0ollywood movies and by modelling in

advertisements for the Indian mar*et.

India has embar*ed on a process of economic reform and progressive

integration with the global economy that aims to put it on a path of rapid and

sustained growth. India still maintains substantial tariff and non#tariff barriers

that hinder trade with the EU. In addition to tariff barriers to imports, India

also imposes a number of non#tariff barriers in the form of /uantitative

restrictions, import licensing, mandatory testing and certification for a large

number of products, as well as complicated and lengthy customs procedures.


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RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDY

o To understand the Trade and Investment between India#EU

o To study the types of goods and services India trades with EU

o To study role of free trade agreement between India#EU

o To *now the achievements and future scope of trade between India#EU

24I5A4+ 6ATA)

The primary sources of data refer to the first#hand information. 2rimary data is

collected with the help of students pursing degree in 0achelor of Arts and their

study notes.

SE786A4+ 6ATA)

Secondary data is one which already eists and is collected from the published

sources. The sources from which the secondary data was collected are

newspapers and maga3ines li*e Economic Times, the EU 9ebsite and the

Internet.

PURPO


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LITERATURE REVIEW

A large number of empirical studies over the past two decades have shown that

migration and goods trade flows are complementary in nature, and not

substitutes, as theori3ed in the preceding literature. In a review of nearly fifty

studies, it was found that immigration to the host country had a significant

positive effect on the trade flows between the host and home country, that the

impact was usually greater for imports to the host country and lower for trade

in homogenous goods where there was less re/uirement for customi3ation

:"enc. et al. $; as

it lowers the transaction costs involved in international trade. These transaction

costs are mainly informational barriers about *nowledge of foreign mar*ets,

laws, business practices, languages, customs and culture and migrants provide

useful s*ills and resources in overcoming these barriers. Through this channel,

migration can boost both eports from the host country and?or imports to the

host country :"ould --@, 1ead and 4ies --%, 6unlevy and 1utchinson

---, "irma and +u $;;$, 4auch and Trinidad $;;$, 6unlevy $;; country of origin. The

second channel is the =preference effect> channel whereby immigrants prefer to

consume certain products of their native countries such that it draws imports to

the host country. This largely includes trade in food products though it can

cover any item that is uni/uely produced only in the native region. The si3e of

the immigrant stoc* can also affect trade in different ways. or eample, a

larger immigrant stoc* may increase the number of potential networ*s that can

be built between the host and home region and increase the volume of

international trade :4auch $;;$ but there could also


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be certain thresholds beyond which migration does not have any substantial

effect on international trade :Egger et. al $; if they are

able to control large parts of specific industries and swing trade towards their

countries of origin. In India, a couple of studies have eplored the relationship

between migration and merchandise trade between India and 9est Asia and

anada respectively. !arayil :$;;B< studied the relationship between

migration and trade with the si " :"ulf ooperation ouncil< countries in

9est Asia. India imports most of her oil re/uirements from 9est Asia and is

involved in large scale =manpower or labour eport> as over five million

Indians, nearly half the emigrant stoc*, reside in 9est Asia. 9hile these labour

flows have yielded substantial remittance flows to India, it also boosted

eports to 9est Asia through the =preference effect,> to meet the re/uirements

of the large Indian emigrant population. 9alton#4oberts :$;;-s micro level

study on the relationship between migration and trade lin*ages with anada

had several interesting insights. or eample, visa restrictions on mobility of

professionals appeared to be the ma(or barrier in hindering the development of

trade flows. =Indian language> s*ills was not an important criterion for trade

development as English was widely spo*en in India and at times business

people preferred spea*ing in English to connect with a pan#Indian audience.

As a large ma(ority of the Indian immigrants and diaspora in anada

originated from a small area within India :6oaba region of 2un(ab


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sector shows the operation of the =preference effect> in international trade. The

lin* between migration and trade in services has been well documented and is

integral to the definition of trade in services under the 9orld Trade

7rganisation>s :9T7< "eneral Agreement on Trade in Services :"ATS


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also increased tremendously in the past decade. Apart from the U!, the

traditional destination for most Indian students, other European countries have

also witnessed an increase in the upta*e of Indian students :5u*her(ee and

handa $;$


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CHAPTER 1Hitor! O" tr#d$ %$t&$$n Indi# #nd Euro'$#n Union

India is one of the growing economies that will reshape the global economy in

the twenty#first century. Europe is the largest trading power. 0oth are involved

in *ey negotiations to boost trade and investment at the 9T7 and bilaterally

through an ambitious ree Trade Agreement.

The European Union is India's number one trade and investment partner. Two#

way trade in goods and services totalled % billion in $;; C or roughly $DF

million per day C and has continued to epand in $; when the two#way trade

in goods alone reached %; billion. 7ur bilateral trade has more than doubled

in the last decade and the EU remains the most important eport destination of

Indian eports of both goods and services. urthermore, as well as being the

main destination for Indian outward oreign 6irect Investment :6I Europe, people and products can move freely from one

place to another. The $B 5ember States of the European Union share a single

mar*et, a single eternal border and a single trade policy. European Union

5ember States have agreed to pool their sovereignty and follow a common


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policy on international trade. It means there is one negotiation, one negotiator

C the European ommission C and at the end of the process (ust one agreement

instead of $B different sets of trade rules with each of Europe's trading

partners. The ommission also represents the EU 5ember States in the 9orld

Trade 7rganisation.

5ember States embassies in partner countries are in charge of eport

promotion and offer a wide range of services to their national operators,

including helping them e.g. to *now more about the Indian mar*etG find local

contactsG carry out in#depth research on the mar*et for their goodsG or attend

trade fairs.

7verall o#7peration framewor* between EU#India

In $;;@ India became one of the few EU's Hstrategic partnersH. Since $;;F,

The EU#India oint Action 2lan, revised in $;;%, aims at realising the full

potential of this partnership in *ey areas of interest to India and the EU.

The EU and India have in place an institutional framewor*, cascading down

from the annual EU#India Summit held at heads of States and government

level, to a senior#official level oint ommittee, to the Sub#ommission on

Trade and to wor*ing groups on technical issues such as technical barriers to

trade :T0T


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which evolves through annual summits, regular ministerial and epert level

meetings.

In $;;@ India became one of the EU>s JStrategic 2artnersK :oint 2ress

Statement. Since $;;F, the oint Action 2lan which was revised in $;;% is

helping to reali3e the full potential of this partnership in *ey areas of interest

for India and the EU. urrent efforts are centered on) developing cooperation

in the security field :in light of the EU#India 6eclaration on International

Terrorism ongoing negotiations for a ree Trade Agreement.

The ountry strategy paper for India $;;B#$;D :@B; million in total C a

yearly average of B million< concentrates EU funds on health, education and

the implementation of the oint Action 2lan, see also its 5id#term review. A

5emorandum of Understanding on the 5ulti#Annual Indicative 2rogramme

:5I2< $;#$;D was signed between the EU and India in ebruary $;. A

review confirmed the need to further support social sectors li*e health and

education, in particular secondary education and vocational training. or $;#

$;D, the EU intends to fund fellowships for Indian students and professors

:Erasmus 5undus


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CHAPTER +

Tr#d$ #nd in,$t-$nt &it* Euro'$#n Union

Airbus AD$; passenger (et aircraft of flag carrier airline Air India

The Indian economy grew at more than FL in the last /uarter of $;@. I5

economic forecasts for India predict .F percent growth in the year through

5arch $;B compared with hina>s .D percent in the $ months through

6ecember $;.

The European Union is India's second largest trading bloc, accounting for

around $;L of Indian trade :"ulf o#operation council is the largest trading

bloc with almost M; billion in total trade


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9hilst EU#India trade had continued to progress in absolute terms for the past

several decades, the past couple of years have shown a decrease in trade)

bilateral trade declined to EU4 B billion in $;$ and further still to around

EU4 BD billion in $;D. The European Union's commercial presence in India

has been dropping at an alarming rate) mar*et#share in India for goods and

services from the European Union has fallen by more than F;L over the past

decade. EU#India trade in goods as a percentage of India>s total trade has

continuously declined going from $.F L in --#-B to D.- L in $;#$ and

further to D.$ L in $;D#@. In $;D#@, only about L of Indian eports

and imports were to the EU.

Natest statistics indicate that India#European Union trade in goods and servicesare on the decline. 6uring the fiscal year $;@#$;F, trade in goods dipped by

about @ per cent to M-% billion while trade in services pulled#bac* by $.F

percent to M$ billion in $;D. Annual EU investment in India more than

tripled between $;;D and $;;) going from BF-million in $;;D to D billion

in $;;. :8ote) A remittance to India by Indian 6iaspora world#wide was

USMB; billion in $;D#@


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industries, Tata onsultancy Services, et Airways, 6ishman 2harmaceuticals

and hemicals


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CHAPTER .

Indi#/EU "r$$ tr#d$ #0r$$-$nt

The free trade agreement currently negotiated between the European Union

:EU< and India is due to be the first of a new generation of free trade

agreements between the EU and an emerging economy. This article addresses

a number of critical issues in the negotiations and the EU>s response to them.

These issues include European labour standards and "ATS 5ode @

liberali3ationG Indian generic medicine production and EU interests in patent

protectionG EU agricultural subsidies and their impact on the Indian dairy

sectorG the human rights and democracy dimension of the EU>s foreign policyG

and transparency issues of the negotiation process.

The European Union :EU< has invested considerable resources to conduct and

finali3e free trade agreement :TA< negotiations with numerous trade partners,

most recently Singapore, 5oldova, "eorgia and Armenia. 1owever, its

negotiations with large trading partners such as India, the focus of this article,

have been going on for a considerable amount of time and demonstrate that

concluding an TA between large economic powers is not an easy tas*. India,

too, has been actively C and rather successfully C concluding TAs, inter alia

with ma(or economic powers such as ASEA8, apan, !orea and 5ercosur. Its

foreign trade policy is characterised by responsiveness to domestic policy#

ma*ing by politicians and technocrats rather than to international forces. The

country has ac/uired the reputation of hard#line negotiator with a defensivestrategy, not easily giving in to trading partner demands. AdditionallyG India

has /uestioned the strategic power of the EU in Asia. 5oreover, the EU>s

political power may have constrained by increased global multi#polarity, a

growing economic nationalism, the financial and Euro3one crises and the

=(udicialisation> of world trade. It seemed clear from the outset that the TA

negotiations between the EU and India would not be a proverbial =wal* in the

par*>. This paper addresses a number of critical issues in EU#India

negotiations. 9e begin by describing the general relationship between the EU


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and India and the economic potential of the TA in order to parse out what is

at sta*e. Afterwards, we address some of the difficulties by highlighting the

following contentious issues raised by civil society sta*eholders) :i< European

labour standards and "ATS :the 9T7>s "eneral Agreement on Trade in

Services< 5ode @ liberali3ationG :ii< Indian generic medicine production and

EU interests in patent protectionG :iii< EU agricultural subsidies and their

impact on the Indian dairy sectorG :iv< the human rights and democracy

dimension of the EU>s foreign policyG and :v< transparency issues of the

negotiation process.

$ See for an overview of both concluded TAs and negotiations) "overnment of

India, =Trade Agreements>, http)??business.gov.in?trade?tradeQagreements.php.

D 2. 4amdasi, =An 7verview of India>s Trade Strategy>, :$;;< IdRes pour le 6Rbat de

l>Institut 6u 6Rveloppement 6urable et des 4elations Internationales?Sciences 2o

2aris

I8TE4ESTS AT STA!E I8 T1E TA TAN!S

A. E7875I 27TE8TIANEconomically, India and the EU are vastly different countries.$ 9hile India>s

population more than doubles the EU>s, its "62 is almost a tenth of the EU>s)

.%$F trillion US6 versus .D trillion US6. India>s agricultural sector is

comparatively much more important, but the domestic services sector also

accounts for more than half of national "62. In the EU, services account for

B.%L of "62. EU#India trades were worth nearly %; billion euro in $;, and

shrun* to BF billion in $;$. 9hile India is currently Europe>s ninth trade

partner, the EU is India>s largest trading partner. Although India>s average tariff dropped from B-L in --; to BL in $;;F,

current tariffs are still high when compared to the EU>s average tariff :$L


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this is complicated by divergences in the regulatory framewor* between EU

5ember States. 4esearch commissioned by the ommission into the potential

economic effects of an EU#India TA showed that both parties> eports would

be boosted) Indian eports as a result of a depreciation of its currency

following an increase in trade, which would reinforce the competitiveness of

Indian producersG EU eports from better access to the Indian mar*et.

5oreover, each partner>s mar*et share in the other>s mar*et would increase. urthermore, simulations showed that because of the comparatively higher

level of protectionism, India>s mar*et opening would be significantly greater

than the EU>s. 1owever, while the EU>s terms of trade would improve

drastically, their gains would be limited as India is not one of the EU>s largest

trading partnersG the EU>s lesser liberalisation would prove more favourable

for India as the EU is India>s largest trading partner.A second commissioned report concluded that trade diversion is a serious

ris* when an TA does not provide for substantial, deeper integrationG in the

case of a more profound TA, technological changes, spill#overs between

companies, niche specialisation and economies of scale can provide substantial

gains. DD 5oreover, in line with the aforementioned ob(ectives of the TA,

positive effects of deeper integration is more li*ely to clearly benefit both

parties.

0. EU472EA8 A86 I86IA8 T4A6E I8TE4ESTSThe $;; follow#up communication of the ommission to the "lobal

Europe Strategy, =Trade, "rowth and 9orld Affairs>, sums up the broad lines

of the EU eternal trade agenda) =utting tariffs on industrial and agricultural

goods is still important, but the brunt of the challenge lies elsewhere. 9hat

will ma*e a bigger difference is mar*et access for services and investment,

opening public procurement, better agreements on and enforcement of

protection of I24 :intellectual property protection


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of =unnecessarily high barriers to EU eports> while with the benefits of

liberalisation also come responsibilities, such as helping to maintain a global

regime based on openness. Thus, the EU>s =re(ection of protectionism at home

must be accompanied by activism in creating open mar*ets and fair conditions

for trade abroad.As concerns India, and in consistency with the aforementioned

economic analyses, the EU will see* the reduction or abolition of nontrade

barriers in addition to traditional tariff reductions. Eamples of such non#tariff

barriers include) /uantitative restrictionsG import licensingG mandatory testing

and certification for a large number of productsG complicated and lengthy

customs proceduresG sanitary and phytosanitary measures on mineral water

and live cattle and poultryG reciprocity concerning temporary admission of

products in transitG and mar*et access restrictions to the Indian ban*ing, retail

and government procurement sectors.In short, the EU>s interests in an TA with India underline the core

arguments of the eternal policy of the "lobal Europe Strategy) creating

mar*et access through the lowering of non#tariff barriers, allowing access to

resources and tapping into new areas of growth such as intellectual property,

services, investment, public procurement and competition. 7n the other side of

the table, Indian goals and ob(ectives in the TA negotiations are to be seen in

the light of the economic developments in the region. Asia is in a process of

economic integration and there are many TAs at different stages of

completion. Such integration might mean that in the future, the EU could face

more challenges to establish a presence in those countries. India is also loo*ing

for new mar*ets in Asia, Africa and Natin America and, in order to counter the

effects of the global financial and economic crisis, it has developed a strategy

called the ocus 5ar*et Scheme aimed at decreasing its reliance on traditional

mar*ets li*e Europe and the United States. urthermore, if the EU>s bilateral

approach with regard to ASEA8 members proves successful :as appears to be

the case


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T!'$ o" 0ood Indi# Tr#d$ &it* Euro'$

European ountries account for about $;L of India>s total trade. 6uring $;;-#

; :April CSeptembers trade with Europe decreased by D.BL as

compared to the corresponding period last year with eport declining by D;.-

L and imports by D$.$%L. The top five items of India>s eports to Europe are

4eady#5ade "arments otton Including Accessories, 2etroleum :crude &

products


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:A< Trade and Investment 4elations with European Union

The European Union :EU< presently consists of $B countries vi3. Austria,

0elgium, 0ulgaria, yprus, 3ech 4epublic, 6enmar*, Estonia, inland,

rance, "ermany, "reece, 1ungary, Ireland, Italy, Natvia, Nithuania,

Nuembourg, 5alta, 8etherlands, 2oland, 2ortugal, 4omania, Slova*

4epublic, Slovenia, Spain, Sweden and U.!.

The EU, as a bloc, is India>s largest trading partner and accounts for about

%L of India>s eports and imports. The relationship between the EU and

India has matured substantially in recent years, from that of aid donor and

recipient, to one of partnership with opportunities for mutual benefit. Today,

the EU and India, as the global actors in a multi#polar world, share a strategic

partnership, of which commercial interaction forms a *ey component. The

fre/uency and intensity of India>s contacts with the EU have grown

eponentially since $;;;. India>s engagement with EU in trade in goods has

increased by more than three times between $;;; and $;;%.


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Approvals for oreign 6irect Investment :6I< from EU 5ember States

during the period August, -- to 7ctober, $;;- were of the order of USM $D.D

billion. U!, 8etherlands, rance and Italy are the ma(or sources of 6I that

has been approved. The share of EU in total 6I inflows in India is %.BFL.

Top sectors attracting 6I inflows from EU :from April $;;% to 7ctober $;;-<

are Services Sector, Automobile Industries, 1ousing and 4eal Estate,

hemicals :other than ertili3ers< and onstruction Activities. As far as

technology transfer is concerned, D%;B technical collaborations have been

approved with EU countries during August, -- to September, $;;-.

India and EU have en(oyed healthy economic relations. These relations have

been built on the foundations of :i< India#EU ooperation Agreement on

2artnership and 6evelopment which came into effect in August, --@, :ii<

India#EU Strategic 2artnership Agreement :iii< Agreement on Scientific and

Technological co#operation , $;;$ :iv< Agreement on ustoms o#operation,

$;;D. India also has bilateral framewor* Agreements with a number of

individual EU countries in areas of trade, investment and avoidance of double

taation. India has agreements for investment promotion and protection with

$$ countries of Europe, including countries of EU. Similarly, agreements

for avoidance of double taation eist with $ countries of Europe, including

$; countries of EU.

India#EU bilateral relations are periodically reviewed at the official level bythe India#E oint ommission, which had its last meeting on $%th 7ctober,

$;;- in 8ew 6elhi. Three Sub#ommissions on Trade, Economic ooperation

and 6evelopment ooperation and nine oint 9or*ing "roups on agriculture

and marine products, tetiles, information technology & communications,

consular matters, environment, steel, food processing industries,

pharmaceuticals & bio#technology and T0T? S2S issues are functioning. The

Sub#ommission on 6evelopment ooperation met on th uly, $;;- at

0russels. The meetings of Sub#ommission on Trade and Sub#ommission on


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Economic ooperation were held on $@th September, $;;- and th 7ctober,

$;;- respectively.

India>s trade with the EU is hampered by sanitary and phytosanitary standards,

technical barriers, comple system of /uota?tariff, use of anti#dumping?anti#

subsidy measures against Indian products. These issues which have a bearing

on mar*et access for India>s eports to the EU are regularly ta*en up in the

oint 9or*ing "roups and Sub#ommission on Trade. The EU mar*et has

stringent /uality norms and standards. Indian trade and industry need to meet

these norms to increase the mar*et share of Indian products in EU. Issues

affecting trade with individual European countries are also ta*en up at the

bilateral fora in the form of oint ommissions. This continuous dialogue

helps in creating an environment for enhancing bilateral trade and investment

flows. 6uring the year $;;-, oint ommissions meetings were held with

0elgium#Nuembourg :0NEU


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recognised the importance of an effective multilateral system, as a *ey factor

in tac*ling global challenges. They also considered climate change as one of

the most important global challenges, and called for strengthening the ongoing

global recovery through inclusive and global approach. 0oth sides underlined

the importance of financial services reforms that have been implemented in

India, and reconfirmed their adherence to the "#$; commitment to refrain

from adopting protectionist measures in all its forms covering trade in goods

and services, investments and financial flows. The Importance of successfully

concluding multilateral negotiations at the 9T7 in $;; was also underlined.

EU and India confirmed the shared ob(ective of concluding an ambitious and

balanced 0road 0ased Trade and Investment Agreement, which will bring

significant economic benefits to both sides and further strengthen the bilateral

and economic relationships. The EU and India too* note of the progress made

so far and agreed to intensify the negotiations with a view to concluding the

Agreement as swiftly as possible.

India is currently negotiating with the EU for concluding a 0road#based Trade

and Investment Agreement :0TIA


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oint Study "roup :S"< was established in 6ecember, $;; to ta*e a

comprehensive view of bilateral economic lin*ages, covering among others,

trade in goods and services, investment flows, and other areas of economic

cooperation and to eamine the feasibility of a bilateral broad based trade and

investment agreement. The S" recommended commencement of negotiations

for a broad based 0ilateral Trade and Investment Agreement. 0ased on this,

the negotiations commenced in 7ctober, $;;%. ontinuing with the efforts of

the previous years to strengthen the trade and investment relations with ETA

countries, four rounds of negotiations have been held so far. The fourth round

of negotiations was held from September $$#$@, $;;-. 2rior to this, an Eperts

5eeting was held in "eneva during August -#$;, $;;-.

India#Serbia oint Economic ommittee :E< has been established under an

Agreement on Trade and Economic ooperation between the "overnment of

the 4epublic of India and the ouncil of 5inisters of Serbia and 5ontenegro,

signed on B ebruary, $;;. The first meeting of the E was held in 8ew

6elhi on $ April, $;;%. The -th meeting of India#roatia oint ommittee on

Trade and Economic ooperation was held at Pagreb, roatia during F#

5arch, $;;-. The seventh session of the oint ommittee of Trade and

Economic ooperation between India and Slovenia too* place in N(ubl(ana on

$-th September, $;;-.

The first meeting of India#Tur*ey oint Study "roup :S"< to eplore the possibility of a ree Trade Agreement :TA< between India and Tur*ey was

held in 8ew 6elhi on anuary #B, $;;. The important points discussed in the

meeting included bilateral economic lin*agesG eisting regional trading

arrangements of both countries with their respective trade partnersG broad

structure of the report of S"G and detailed structure of each chapter of the

report. It was agreed that S" report would be finali3ed before 6ecember,

$;;. Accordingly a wor* programme for the S" was also wor*ed out. The


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sith meeting of India#U! oint Economic and Trade ommittee :ET7<

too* place in Nondon on @th ebruary, $;;

A. "rowing 5erchandise Trade Integration between EU and India

6uring eighties, India>s eport bas*et had a considerable presence of the

Soviet 0loc and Eastern European countries :8achane and 4anade, --s trade bas*et. In $;;-, India>s eports to and imports from

EU stood at $F.@ and $B.F billion respectively. The recent increase in Indo#

EU trade is fueled by the growing trade relationship with both EU F as well

as the newer EU members, many of which belonged to the former Soviet 0loc.

The increase in trade volume has occurred both in intermediate goods and final

products, indicating possibilities of deepened intra#industry trade as well. The

relative presence of EU and India is each other>s mar*et provides interesting

insights. EU>s presence in India>s trade bas*et and vice versa. It is observed

from EU F>s presence in India>s eport and import bas*et has decreased

considerably over --F#$;; :ha*raborty, $;$s growing trade with 9est Asia and East Asia as a result of increased oil

imports and the =Noo* East 2olicy> respectively. The decline has been sharper

for imports, given India>s growing import of energy products from oil#

eporting countries. 8evertheless, EU as a whole remains as the largest trade

bloc partner of India. Interestingly, India is witnessing an increasing trade

association with the new EU 5ember countries :EU $< as well, in particular

in the area of eports since $;;. 7n the other hand, shows that India>s

presence in EU F>s trade bas*et has improved over the time, but still remains

at a marginal level. A similar conclusion concerning new EU member

countries emerges by loo*ing at India>s trade shares from the same diagram.

learly both EU and India hold considerable scope for enhancing the

penetration in each other>s mar*et through the formal trade agreement.

The importance of India for individual EU member countries and vice versa

can be understood and indicates that in line with the macro trend, the share of


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individual EU member countries barring eceptions li*e 8etherlands are

declining in case of eports. India>s share in EU member countries on the other

hand is showing an increasing trend over the years, although the figure is at a

modest level. It can be argued on the basis of the observation that both EU and

India stand to gain by enhancing presence in each other>s> mar*et.

7ne ma(or concern to be addressed during the negotiation of any trade bloc

is however the domestic oppositions fueled by the fear of potential losses. The

current trade balance pattern provides an indicative scenario in this regard.

9hile India has trade deficit vis##vis EU#F, it en(oys a surplus with respect

to EU#$ countries. The aggregate trend is repeated at the country#level

scenario as well, as India en(oys surplus with respect to several EU $

countries. India>s trade deficit with the EU F countries on the other hand can

be eplained by their heavy imports of machinery and appliances, electrical

machinery and e/uipment>s, chemical products, iron and steel products,

precision e/uipment>s etc. from the latter. 7n the other hand, India en(oys

trade surplus with respect to EU $ countries, given its eport of automotive

products, tetile fibers and clothing products, iron and steel products,

pharmaceutical products, machinery and appliances etc. to these mar*ets andthe limited diversity of the present import bas*et from them

Interestingly, India>s trade complementarities with the newer EU member

countries reveal an increasing trend for eports, while the same for imports

show a decreasing trend. The result suggests that, EU eport and Indian import

demand has shown divergence over --F# $;;$, but greater similarity has been

noticed in the following period. The result underlines India>s eport interest to

partner EU through 0TIA on one hand, and the EU urge to negotiate hard for

greater access in Indian mar*et on the other.


26/47

CHAPTER 6

EU/Indi# Aoci#tion on Tr#d$ in S$r,ic$

The EU F countries have long evolved as a ma(or provider of tech#intensive

professional services. onversely, the EU $ countries are on the learning

scale for the professional service categories on one hand and are evolving as

ma(or providers of travel and tourism services on the other. India is arguably

located somewhere in between, as the country since nineties has moved from

provision of traditional labour#intensive services to higher s*ill#intensive and

innovative tradable services. It is observed from International Trade Statistics

data on services trade that both EU and India holds a trade surplus in this

category. 1owever, the EU F countries are recently witnessing a decline of

their share in global services eportsG arguably owing to labour cost

disadvantage. 7n the other hand, India as well as EU $ countries are

witnessing an increase in their global presence.

"lobal Services Eport and Import shares of EU F ountries, "lobal Services

Eport and Import shares of EU $ ountries and India. The category#wise


27/47

mar*et share of EU $B and India in commercial services is reported in in the

following. It is observed from the table that EU countries are currently the

leading players in case of all three service categories, namely C transportation,

travel and other commercial services. 7n the other hand, India is still a

marginal player in case of transportation and travel service eports, but has

evolved as a ma(or service provider in case of other commercial services. In

particular, eport of computer and IT# related services and professional

services have evolved as a ma(or item in India>s services eport bas*et.The trade in services between EU and India has increased continuously over

the last decade, with India>s services imports from EU reaching %. billion in

$;;-, while the corresponding figure for eports stood at B.@ billion. The

Indian services import from the EU mainly occurs in the area of financial

services, professional services, travel services etc. 7n the other hand, Indian

interest in the EU mar*et has been mied, as eport earnings from all types of

operations, e.g. # eport by 027 units, tourism, setting up of subsidiaries

through investment and movement of professional service providers have

increased over the period. or instance, inflow of medical patients from

European countries to India has gradually increased :ha*raborty and

6ilwaria, $;


28/47

Indian service providersG removal of mar*et access limitationsG creating a

transparent and ob(ective visa and wor* permit regime with easier and faster

renewal procedureG ensuring a mechanism to find out the causes of visa

re(ection and re/uirements to be fulfilled etc. Another ma(or agenda of India is

to ensure that the EU practice to lin* investment issues under 5ode D with

movements of professionals under 5ode @ is discontinued. The sector#wise

Indian re/uests to the EU on trade in services are noted in Anne . It is

epected that the Indian concerns raised to the EU from time to time will be

responded to in the final 0TIA.

EU/Indi# 7tr#d$ in 0ood7 t#titic

Trade in goods $;$#$;@, billions

+ear EU imports EU eports 0alance

$;$ DB.F D%.F .;

$;D D.% DF.% #.;

$;@ DB.; DF.F #.

EU/Indi# 7tr#d$ in $r,ic$7 t#titic


29/47

Trade in services $;#$;D, billions

+ear EU imports EU eports 0alance

$; . .- ;.-

$;$ $. .B #;.%

$;D $.$ .F #;.B

CHAPTER 8

C*#))$n0$ in Tr#d$ &it* t*$ Euro'$#n Union(


30/47

Europe in $;F) Uncertain, Uneven and Unpredictable. The Jsic* manK of Europe may

very well be all of Europe. Since the "reat 4ecession of $;;%#$;;-, growth

has been generally slow and painful, and the danger of prolonged stagnation in

Europe is a very real possibility. The euro has dropped to its lowest value in

nine years. 9ith Europe accounting for $FL of global trade, its recovery is

imperative to the health of the global economy. The forecast for $;F is

loo*ing dismal, only marginally better than $;@.

9harton management professor and director of The Nauder Institute. The

continent is facing a Jdeceleration of the "erman economy. Southern Europe

is not wor*ing as it was supposed to and there are lingering problems with

high unemployment and high taes,K "uillen adds.

Unless there is a decisive change in structural, fiscal and monetary policies,

Europe may continue to languish in the upcoming year, according to the

7rganisation for Economic o#7peration and 6evelopment :7E6s chief economist. The institution forecasts growth in the Euro3one

to be (ust .@L in $;F. That>s an improvement over the low ;.BL for $;@,

but it>s well below what Europe should be achieving.

Nast year, the overall world economic growth rate stood at D.L. And 5ann

points out that the global rate is still below the @L average between --F and

$;;B. She eplains that with the burgeoning si3es of Jfaster#growing emerging

economies, world "62 should be epanding faster V not slower V than past

norms. Investment and trade globally have yet to pic* up to full steam.K

5ario 6raghi, president of the European entral 0an* :E0s Jfragile and

unevenK economic recovery, possibly with /uantitative easing measures, a

strategy that Europe has previously shied away from. Since the last half of

$;@, the E0 has Jadopted a variety of measures to stimulate ban* lending.

The real /uestion is how far can they go and how effective will it be,K

says oao . "omes, a 9harton finance professor.


31/47

0y having several countries drastically reduce their deficits all at the same

time, growth was undercut and the ad(ustment has been incredibly painful. It>s

a atch#$$, note 7livier hatain, strategy and business policy professor at

1E business school in 2aris and senior fellow at 9harton>s 5ac* Institute

for Innovation 5anagement.

9Fr#n:)!; its $L

target for a very long time, which ma*es debt consolidation much more

difficult.K Inflation has stayed precariously low, hovering at ;.DL. Spain and

"reece have actually been in deflation, a trend that could spread to the rest of

Europe.

Unemployment in Europe, with the eception of the U.!., is in the double

digits and not forecast to drop until $;. According to 5ann, Jonsumer

spending and investment have consistently failed to pic* up, leaving Europe

with high unemployment and wea* ta revenues.K 7n the positive side,

hatain points out that Jthe activity rate of adults who can wor* is actually

much better now V as good as it in the U.S. V than it was in the --;s.K

1owever, within Europe, countries with very different personalities are

contributing to an unsteady recovery effort that is affecting the entire

continent.

CHAPTER >

Futur$ Sco'$ #nd #c*i$,$-$nt in tr#d$ &it* Euro'$#n Union


32/47

7n $D ebruary $;F, the Indian 5inistry of Eternal Affairs :5EA<

published a paper summari3ing the current status of engagement with the

European Union, listing India's national priorities, stating its core interests and

outlining the direction and contours for the future EU#India relationship)

• Safeguarding India>s territorial integrity, it>s economic & trade interests,

nurturing its civili3ation heritage and enhancing its strategic space.

• reating conditions in our immediate neighborhood so as to facilitate

channeli3ing a large part of our resources to health, education, environment and

other vital social areasG

• 6eveloping our international political relationship to etend our interests in ever

widening concentric circles, thus enabling the full harnessing of our political,

economic and technical resources.

India views the ongoing global power shift from the Atlantic to the Indian

7cean as an opportunity to lift billions of persons out of etreme poverty and

a 5arch to modernity. Indians, observing the hinese geopolitical ascension,

have concluded their country can only be ta*en seriously in $st.century world

affairs if it can spea* from a position of economic strength. Investors and

companies have been encouraged to tap the aspirations of the .$ billion

strong. Indian mar*et for goods & services and profit from Indian 7cean

Trade through the ma*e in India initiative launched by the "overnment of

India. The challenge facing India is to successfully leverage the country's

youth dividend towards achieving the Indian century and to avoid hubris that

India's economic growth is inevitable.

The European Union, still reeling from the combined effects of the global

economic slowdown, European sovereign debt crisis, a re#assertive 4ussia and

several high#profile corporate scandalsG appears rudderless in trying to find

solutions to reverse the surge of Euroscepticism and anti#globali3ation

movement. Uncertainties in 0russels over the future state of the European

Union are directly reflected in EU#India relations. Europe#wide acceptance of


33/47

"ermany's leadership role of the European Union hangs in the balance after

widespread dismay at the rigid political stance adopted by the "erman

government and perceptions that the harsh conditions which "ermany sought

to impose upon "reece during the "ree* sovereign debt crisis were

overbearingly punitive. 2ortrayal of "ermany as a normative model of

honesty, efficiency and ethics :incessantly repeated by "erman officials, mass

media and private citi3ens during the "ree* sovereign debt crisis< came

undone following revelations of fraud at a global level on an industrial scale

by Ool*swagen. Time 5aga3ine termed the actions of Ool*swagen as

Hsuperbly engineered deception, with million O9 diesel cars fitted with

special software that enabled them to cheat on emissions tests "erman industry

was supposed to be above this sort of thingCor at least too smart to get caught.H


34/47

CASESTUDY

1( EU#India ivil Aviation ooperation 2rogramme

ontet) Aviation is seen as important by the EU both because of its trade

facilitation role and because of its business potential in its own right. It is also

a sector where the EU can add value from its own etensive eperience and

lessons learned in regulation and operation. The EU#India ivil Aviation

pro(ect is the EU>s biggest economic cooperation pro(ect in India and has been

in operation for the past F years.

7b(ectives

W To improve regulatory lin*s and safety

W To facilitate business lin*s

W The pro(ect's main method is investment in human capital Impact)

9hat has been achievedX

W Increasing awareness of EU industry practice and safety standards # 8ew

regulations A4 $ & A4 @F implemented # 9or*ing lin*s between Indian

and EU authorities :6"A & EASA< created # 1elicopter safety improved

W Supporting the development of local air transport companies # $; airlines

created in years # 6ecision ta*en to create an 50A in airline management

W 2roviding technical assistance to Indian Air Traffic 5anagement # Air Traffic

controller licensing in progress

W 2roviding training on the development of airports infrastructure # Aerodrome

licensing in progress # Assisting in pilot training


35/47

W Stimulating collaboration between Indian and European aerospace

manufacturers # SA4AS flight test protocol implemented # oint Oentures

concluded between European and Indian industries

W 6eveloping local *nowledge and practice of modern product support,

maintenance and overhaul techni/ues # 6"A academy set up # oint Oentures

concluded between European and Indian industries

$. The European Union faces the dual challenge of developing ade/uate

standards for genetic testing while bridging national, social, and linguistic

differences. Accordingly, the best description of the current /uality

assurance situation in the European Union is one of fragmentationG

national policies differ widely on areas such as re/uirements for laboratory

accreditation, clinical genetic re/uirements, and novel genetic test

evaluation. "iven the number and diversity of countries in the EU, it isunderstandably difficult to come to a consensus about how to synchroni3e

/uality assurance of genetic tests. The challenge for Europe appears to be

one of harmoni3ing standards, so that not only are all genetic tests in the

EU held to certain minimum standards, but laboratories performing genetic

tests can also collaborate on issues such as best practices and rare genetic

diseases across national borders.

The scope of genetic tests within the European Union is itself unclear. A recent

search on the European 6irectory of 68A 6iagnostic Naboratories

:E668AN


36/47

the European Union. Nargely, these tests are for monogenic :or single#gene<

disorders, and their type is determined mostly by the genetic illnesses that are

most prevalent within the community in /uestion.

Yuality assurance within genetic testing laboratories is guided largely by a

networ* of eternal /uality assurance providers, which provide laboratories

with genetic test samples and feedbac* based on the laboratory's analysis of

the sample, both in the form of individual reports and group feedbac* that can

lead to standardi3ed guidelines. These providers vary in the number of tests

schemes :programs that test laboratory proficiency by eamining testing

results on a standardi3ed sample< available and geographical scope

The European ommission's European 5olecular "enetics Yuality 8etwor*

:E5Y8< and the ystic ibrosis Thematic 8etwor* are among the largest

providers, and both have received funding from the EU. The E5Y8 was

funded by the E until $;;$ :the networ* is still funded


37/47

C*#))$n0$

The 7rgani3ation for Economic o#operation and 6evelopment's :7E6<

report, "enetic Testing) 2olicy Issues for the 8ew 5illennium noted what

seems to be the prime concern in genetic testing /uality assurance) the lac* of laboratory regulation, and the low numbers of laboratories participating in

eternal /uality assurance schemes in the EU. A second survey performed by

the I2TS in its report notes that those laboratories participating in eternal

/uality assurance schemes may participate in very few schemes. 0ecause these

schemes are not compulsory, there may be little impetus for a laboratory to

participate, particularly if they are costly, since participation in the eternal

/uality assurance programs can re/uire membership or testing fees.Additionally, there are concerns about inade/uate or non#eistent genetic

counselling of patients and tests that do not meet standards for clinical validity

and utility.

oncerns have also been raised about inade/uate coverage of rare genetic

disorders, which can occur too infre/uently for a single laboratory to develop

standards specifically for detecting and reporting these genetic abnormalities.

To address this issue, samples are often sent to laboratories in another country

where facilities do eist. 1owever, because of discrepancies between

laboratories within EU member states regarding /uality, reporting, and

payment mechanisms, it may be difficult for samples to be eamined in a

different country. An additional concern, related to the testing of rare disorders,

is the regulation of test made in#house by clinical laboratories, or proprietary

laboratory tests, which are often the only *ind of tests for rare genetic

ailments. urrently, tests that are manufactured outside the laboratory are

sub(ect to regulation under the In#Oitro 6iagnostic 6irective -%?B-?EG

however, there is ambiguity as to whether tests developed in#house are sub(ect

to the same regulations.

So)ution

The I2TS, the European Society of 1uman "enetics :ES1"


38/47

the need for harmoni3ing /uality standards within genetic testing. As

previously stated, there is little information about which laboratories perform

which tests, so it is /uite clear that a comprehensive networ* of laboratories

still has yet to be formulated. The 7E6 and the I2TS have noted that current

eternal /uality assurance measures could be augmented through the

epansion of current programs, and that an overarching harmoni3ation of

regulation would help in the echange of information and samples across

borders. The I2TS recommends the development of a European HplatformH to

maintain /uality across the EU member states that would set up a minimum

standard for genetic testing laboratories and both the ES1" and the E Epert

"roup on "enetic Testing suggest further regulatory framewor* for /uality

assurance with genetic testing. 1owever, how this epansion is to ta*e place,

which would be responsible for its management, and the details of its

mechanism have not been fully articulated.

The ES1" and the E Epert "roup ma*e further recommendations related to

the rights of the patient, stressing issues of informed consent, protection of

medical information :including genetic material


39/47

The EU has three main goals for $;$;)

. 4educe greenhouse gas emissions by $;L, compared to the --;

levels.

$. Increase the use of renewable energy from the current %.FL to $;L

of the total energy output :Targeted renewable energy sources includes wind,

solar and biomass energies<

D. 4educe energy consumption by $;L, compared to the anticipated

$;$; levels, mainly achieved by enhancing the energy efficiency

:ommission, $;;-


40/47

research and development in their products. 7n the other hand, the industries

that do not utili3e green technology will suffer from the increased cost. It was

believed that carbon trading will provide a strong financial incentive for the

industries to go green, thus achieving the aim of carbon emission reduction

:2rograms, $;;%


41/47

the government, which was also /uestioned to have the trend of overestimating

because it will be used to determine the allowance in the coming trading

phase, it was found that the EU#wise carbon emission has decreased for @L

compared to the pro(ected carbon emission baseline.


42/47

FI?DI?GS @ CO?CLUSIO?

The India#EU, as a bilateral trade body, has done well and the 6S0, as a /uasi#

(udicial mechanism, has also wor*ed reasonably well and contributed to the

strengthening of the 9T7 rule#based regime. 1owever, the 6S0 do not have

powers to go beyond the 9T7 law that already eists. 5any developing

countries believe that the eisting law in itself is not fair and (ust as it should

be. Therefore, it is debatable whether the 9T7 dispute settlement mechanism,

particularly the 6S0 is capable of ensuring a level playing field and to deliver

(ustice in the broader sense of the term, or to ensure (ustice on the narrow

sense of applying and interpreting the eisting body of law as ob(ectively,

independently and impartially as possible. 5a(or changes in the 9T7 law, in

line with the 6oha 6eclaration, are desirable to enable the 6S0 to play as a

real international trade court capable of promoting and ensuring fairness and

(ustice for developing countries.

The multilateral trade system that has been developed in the India#EU is based

on the principle that all countries are to benefit from a rule#based system that

treats all countries e/ually. 9hen all countries are treated e/ually, the

prere/uisites for transparency, predictability and consistency are strengthened,

at the same time as the ris* of trade distorting measures is reduced. In reality,

however, differentiation between the developing countries is almost the rule,

rather than the eception, in all other international trade arrangements.

Accordingly, there is an apparent contradiction between the principle of non#

discrimination and e/ual treatment in the 9T7, on the one hand, and rather

arbitrary differentiation between the countries in different bilateral and

regional trade arrangements, on the other hand. These contradictions are

becoming more apparent with the epansion of the multilateral trade system,

the accession of more developing countries to the 9T7, as well as the greater

interest in different development#related issues. It is in this contet that the

6oha 6evelopment 4ound offers an opportunity to identify and develop more

relevant and ob(ective criteria as a basis for a new differentiation between the

6eveloping countries, as well as between the developing and the developed

countries, in the EU. This study presents an approach to a new differentiation

between the developing countries in the EU, together with new and more


43/47

appropriate S6T provisions, in the field of agriculture. This presentation is

mainly based on empirical data, as well as certain relevant studies on the

sub(ect. The purpose of this study has mainly been eplorative, and the

document is, accordingly, not intended to serve as a basis for future

negotiating positions.

rom the above research on Trade between India#EU it was observed that)

. The developing countries that put emphasis on the ris* of preference erosion,

i.e. mainly the N6s and the food insecure countries, could, with the support of

a new differentiation, be compensated through) duty free mar*et.

$. 5ore advanced developing countries eport to other developing countriesD. There is no established convention for the designation of KdevelopedK and

KdevelopingK countries or areas in the United 8ations system

@. A developing country may re/uire for a faster procedure to be used in a dispute

or a longer time to deal with a dispute.F. The EU does not apply any established definition of developing countries.

. The EU eplanation does not address the fundamental causes for non#

participation of developing countries in its dispute settlement mechanism.

RECOMME?DATIO?S A?D SUGGESTIO?S


44/47

. The TA agreements include numerous provisions giving developing and least#

developed countries special rights or etra leniency V Jspecial and differential

treatmentK. Among these are provisions that allow developed countries to treat

developing countries more favourably than other members.

$. The "eneral Agreement on Tariffs and Trade :"ATT, which deals with trade in

goods< has a special section on Trade and 6evelopment which includes

provisions on the concept of non#reciprocity in trade negotiations between

developed and developing countries V when developed countries grant trade

concessions to developing countries they should not epect the developing

countries to ma*e matching offers in return.

D. 0oth "ATT and the "eneral Agreement on Trade in Services :"ATS< allow

developing countries some preferential treatment.

@. 7ther measures concerning developing countries in the TA agreements

include) Etra time for developing countries to fulfil their commitments :in

many of the TA agreements< provisions designed to increase developing

countries> trading opportunities through greater mar*et access :e.g.

in tetiles, services, technical barriers to trade< provisions re/uiring EU

members to safeguard the interests of developing countries when adopting some

domestic or international measures :e.g. in anti#dumping, safeguards, technical

barriers to trade<

2rovisions for various means of helping developing countries :e.g. to deal with

commitments on animal and plant health standards, technical standards, and in

strengthening their domestic telecommunications sectors

BIBLIOGRAPHY

https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm5_e.htmhttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm5_e.htmhttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm6_e.htmhttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm#antihttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm#safeguardshttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm#safeguardshttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#SPShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#SPShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm5_e.htmhttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm6_e.htmhttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm#antihttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm#safeguardshttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#TRShttps://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm4_e.htm#SPS


45/47

The European Convention on Human Rights was previously only open to members of the

Council of Europe ( Article 59. of the Convention!" an# even now only states may become

member of the Council of Europe

Article $9 (article $$! of the Treaty on the %unctioning of the European &nion" on eur'

le.europa.eu

Council )irective *+++,-$,EC of *9 une *+++ implementing the principle of e/ual

treatment between persons irrespective of racial or ethnic origin (0 1 2+" 9 uly *+++"

p. **3*4! Council )irective *+++,62,EC of *6 7ovember *+++ establishing a general

framewor8 for e/ual treatment in employment an# occupation (0 1 $+$" * )ecember

*+++" p. 43**!.

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ndeQen.htm

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