CURRENT AFFAIRS

2021

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

What amount of finance contract has been signed between India and European Investment Bank during the India-EU Leaders’ Meeting?

A	Euro 170 million
B	Euro 150 million
C	Euro 75 million
D	Euro 100 million

Explanation:

Detailed explanation-1: -The EU is India’s third largest trading partner, accounting for €88 billion worth of trade in goods in 2021 or 10.8% of total Indian trade.

Detailed explanation-2: -The EU relaunched negotiations with India for an FTA in June 2022, after talks were suspended in 2013, and launched separate negotiations for an investment protection agreement and an agreement on Geographical Indications. Both sides are hopeful of concluding the negotiations in all three areas in 2023.

Detailed explanation-3: -The second round of negotiations were held in Brussels. India’s bilateral trade with the EU rose by 43.5 per cent to USD 116.36 billion in 2021-22. At present, the EU is India’s second largest trading partner after the US, and the second largest destination for Indian exports.

Detailed explanation-4: -India-EU Broad Based Trade and Investment Agreement (BTIA) negotiations.

There is 1 question to complete.