India-EU FTA in numbers: India flips EU trade to $15 billion surplus

Export surge masks stagnant EU market penetration; five nations take 70 percent of outbound shipments ahead of trade pact

Jan 27, 2026, 15:31 IST1 min

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India's trade with the European Union (EU) has transformed from a near-zero balance in 2019-20 to a $15.2 billion surplus in 2024-25, driven by surging exports that reached $75.9 billion, while imports remained flat at $60.7 billion.

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EU's importance to India's export strategy has grown significantly, with its share rising from 14.4 percent in 2019-20 to 17.3 percent in 2024-25, while the EU's share of India's imports has declined slightly.

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Despite India's export growth, its penetration of the European market remains shallow. India accounts for just 2.9 percent of EU imports in 2024, up marginally from 2.3 percent in 2019, while its export share has declined.

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India's EU export portfolio is heavily concentrated, with Netherlands, Germany, Italy, France, and Spain absorbing about 70 percent of shipments. Netherlands alone accounts for over a quarter of India's European exports.

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Germany dominates India's European import basket with a 31.2 percent share in 2024-25, followed by France at 11.9 percent and Ireland at 8.5 percent. The top five suppliers represent nearly three-quarters of all EU imports into India.

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High-value technology and capital goods lead India's EU import basket. Aircraft worth $3.3 billion top the list, followed by semiconductors, diamonds, and computer processors, reflecting India's dependence on European technology and manufactured goods.

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Refined petroleum products dominate India's EU exports, with automotive diesel fuel alone accounting for $5.7 billion. Smartphones, aviation fuel, diamonds, and medicines round out the top five, showcasing India's manufacturing and pharmaceutical strengths in European markets.

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The European Union commands dominant shares in specific Indian export categories: 51 percent of automotive diesel fuel, 43 percent of aviation turbine fuels, and significant portions of smartphones, diamonds, and medicines, making it critical for these strategic sectors.

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European car imports to India have surged nearly fourfold from $118.6 million in 2019-20 to $430.6 million in 2024-25, reflecting growing Indian appetite for premium European vehicles despite high tariffs that may feature in FTA negotiations.

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India-EU FTA in numbers: India flips EU trade to $15 billion surplus

Export surge masks stagnant EU market penetration; five nations take 70 percent of outbound shipments ahead of trade pact

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