India and the European Union: Trade and Non-Tariff Barriers

Of late, there has been growing interest on the study of the European Union among academicians and policy makers. Started with the European Economic Community (EEC) with six members as a result of the treaty of Rome in 1957, it has now enlarged to 25 members and will be enlarged further in the years ahead. European Union in now the most powerful actor in the international trade countering the supremacy enjoyed by USA since the Second World War. European Union is also the most successful story of Regional Trading Bloc (RTB) among 400 odd RTBs in the world so far. This book analyses the economic relations between European Union and India in the era of globalization, European Union is the most trusted ally of India as far as trade is concerned and the largest trading partner. With the introduction of Euro notes and coins in 12 EU countries in January 2002, importance of EU in India’s trade has increased significantly. Chronology of Indo-EU trade since seventies and different agreements to boost bilateral trade have been analyzed in detail in this book. In this book, emphasis has been given on identifying trade barriers to Indo-EU trade, especially Non-Tariff Barriers (NTBs). India has been facing a plethora of NTBs on its export to the EU since mid eighties. This book analyses detail of such NTBs at 8-digit HS categories and India’s exports affected by such trade restrictions. The entire gamut of analysis consists of three broad parameters viz. (i) Level of tariff barriers on India’s exports to the EU, (ii) level of NTBs to India’s exports to the EU and (iii) revealed comparative advantage (RCA) and tariff equivalents (TEs) of India’s major export to the EU. This book also analyses the problems and prospects of Indo-EU trade in the light of newly emerging international economic environment especially after the onset of World Trade Organization (WTO) on 1 January 1995. Here both potentials and irritants of Indo-EU trade are discussed using quantitative methods. This book will be of interest to researchers, academicians and policy makers of Indo-EU economic relations and hope to provide valuable inputs to further research.