Top 10 EU trading partners in 2023

The EU is India’s largest trading partner: it accounts for €123.7 billion worth of trade in goods in 2023 – 12.2 % of total Indian trade, followed by the United States (US, 10.8 %) and China (10.5 %). The EU is the second largest destination for Indian exports (slightly behind the US) and the third largest exporter to India – after China and Russia. Since 2019, the EU has had a trade deficit with India, which amounted to €16.7 billion in 2023. The EU and India mostly trade machinery, chemicals and base metals. In addition, the EU imports mineral products and textiles, while India imports transport equipment, as well as optical and photographic instruments.