$137 bn bilateral trade: Tariff-hit India bets big on EU

NEW DELHI: Spain, Germany, Belgium, and Poland are emerging as stable and key export destinations for Indian goods within the 27-nation European Union bloc, according to the commerce ministry data.

The data showed that Spain stands out as a high-growth European market for Indian exports.

Exports to Spain rose by over 56 per cent during April-November this fiscal to $4.7 billion from $3 billion in the same period of the previous financial year.

Spain’s share in India’s total exports rose to 2.4 per cent, with a notable gain of 0.5 percentage points, the highest share increase among European partners in the period.

Similarly, India’s exports to Germany increased 9.3 per cent from $6.8 billion to $7.5 billion during the eight months of this fiscal.

“With a 2.6 per cent share in India’s total exports and a positive share gain of 0.2 percentage points, Germany continues to provide stable demand for Indian products,” an official said.

The country’s shipments to Belgium edged up from $4.2 billion to $4.4 billion during April-November 2025-26.

India’s exports to Poland grew 7.6 per cent to $1.82 billion during the period from $1.69 billion in April-November 2024.

“Taken together, these trends highlight a nuanced European strategy for India’s exports.

Rapid growth in Spain, steady expansion in Germany, and resilience in Belgium reflect a balanced export profile combining market diversification from traditional markets and consolidation in mature economies,” the official said.

With India and the EU negotiating a free trade agreement, the bilateral trade between the two is expected to register healthy growth despite the global economic uncertainties.

India’s bilateral trade in goods with the EU was $136.53 billion in 2024-25 (exports worth $75.85 billion and imports worth $60.68 billion), making it the largest trading partner for goods.

The EU market accounts for about 17 per cent of India’s total exports, and the bloc’s exports to India constitute 9 per cent of its total overseas shipments.