Modi reaches Brussels for India-EU Summit

Posted on:30 Mar 2016 18:19:02
Modi reaches Brussels for India-EU Summit
30 March 2016 Current Affairs: New Delhi, Mar 28: Prime Minister Narendra Modi is set to begin his first major foreign tour for the year 2016. Brussels would be the first stop in Modis itinerary followed by Washington and Saudi Arabia. Modi would reach the European shores on March 30, kicking off his yet another high-stake global tour, which would also allow him to grab headlines for the forthcoming days.Modis visit to Brussels comes at a time when Indias trade relation with the European Union is taking a bump. Ever since the regime altered in mid-2014, the stalwarts of EU have shown lack of trust in India. The FDI equity inflow has been constantly dropping ever since Modi came to power. While the foreign investment roughly stood at $24,913 million between 2012-14, it dropped to $8,207 million in 2014-15. In the same period, trade in goods dropped by 4 per cent $98 billion, whereas, the bilateral trade in services also shrunk by 2.5 per cent, bringing it down to %26 billion.

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