Mumbai: On 10th May, Indo-EU bilateral trade can double to 200 billion euros on increasing mutual cooperation and success of FTA talks, European Union Ambassador Joao Cravinho has said.
New Delhi and Brussels are likely to resume dialogue on the free trade agreement FTA next month.
"The bilateral trade between EU and India currently stands at 100 billion euros. I am quite hopeful that with the increasing mutual cooperation and the success of the FTA talks we will be able to double it to 200 billion euros over a period of four years from now," Cravinho told PTI.
The envoy noted that bilateral trade volume has trebled to 100 billion euros during past one decade and could reach 200 billion euros if the forthcoming talks become successful.
Cravinho was talking on the sidelines of an annual day celebration of the Council of EU Chambers of Commerce in India here over the weekend.
When sought his views on the 'Make in India' campaign and its impact on the European exports to the country, Cravinho said the EU sees the 'Make in India' campaign as an opportunity.
"We see the 'Make in India' campaign as an opportunity as it provides us an opportunity to provide new technologies and equipment to the Indian manufacturers.
Make in India is not just meant for the Indian manufacturers, rather it also means EU manufacturers to provide support to their counterparts here with machineries and technical knowhow," the envoy said.
Expressing optimism on the outcome of the forthcoming FTA talks likely to begin next month, he said, "We are quite enthusiastic about the resumption of our FTA talks with India, beginning next month.
I do see hope in liberalisation of rules by the Indian government and the forthcoming talks will pave the way for strengthening the bilateral trade between India and EU countries."
