FICCI Asks To Remove Trade Barriers With EU

New Delhi: As the guideline to the India-EU free trade agreement (FTA) is being defined, industry estimates the potential trade between the two partners to reach $572 billion by 2015. This engagement comprises both trade in goods and services, with the latter constituting a share of around 57 per cent of the total trade. India''s trade in goods could be around $251 billion and in services around $320 billion with EU under the FTA by 2015, said the Federation of Indian Chambers of Commerce and Industry (FICCI). FICCI has stated its worries over a number of issues that remain unsettled and could improve India''s export share, which currently stands at 1.8 per cent in EU''s world imports of goods, and 1.3 per cent in services.