Indo-EU bilateral trade may cross $200bn by 2015: Experts

MUMBAI: With a rising global corporate footprint and strong banking support, the bilateral trade between India and the European Union is likely to cross USD 200 billion by 2015, as the former provides tremendous opportunity, experts today said.

"The bilateral trade between India and Europe, which stood at $74.5 bn in 2010, is likely to touch USD 207.6 billion by 2015," State Bank of India General Manager Economic Research Brinda Jagirdar said at 'EU India Partnership 2010' here.

Indian corporates are expanding globally and the country's banks are well equipped to support this growth, she said.

Yes Bank Chief Economist Shubhada Rao said capital flows have played a major role in the country's growth strategy. However, policy support will allow much more Foreign Direct Investment (FDI) into the country, she added.

"FIIs flow into the is good, however, FDI has not taken off as it should have," she explained.

Echoing her view, Mercedes Benz India Managing Director and CEO Wilfred G Aulbur said to increase the FDI flow there is a need to create a huge market. "If there is a huge market there is more investments, as investors cannot ignore an important market," he said.