Nearly 6,000 EU-linked companies operating in India generated €186 billion in turnover in 2024 — about 5% of India’s GDP and close to a quarter of the country’s manufacturing turnover, according to a new EU report.
The report, titled "The Economic Footprint of EU businesses in India," says EU firms supported close to 6 million jobs in 2024, including 3.7 million direct roles and about 2 million jobs in supply chains and related services, the European External Action Service (EEAS) informed on Thursday.
EU businesses in India generated €23.5 billion in exports in 2024, about 6% of India’s total exports, and paid around €7 billion in taxes, according to the report. Corporate social responsibility spending totalled €271 million in 2024.
Cumulative investment by EU companies between 2014 and 2024 reached €218 billion.
Where EU firms are concentrated
EU firms have a presence in every Indian state and union territory, but about 85% are based in Maharashtra, Karnataka, Delhi, Tamil Nadu and Haryana, according to the report.
Karnataka was identified as a key hub for Information and Communication Technology — a broad term covering telecoms, software and digital services — while Tamil Nadu and Gujarat were described as developing manufacturing centres.
Delhi was the main base for professional and administrative services, while Gujarat and Telangana were listed as the fastest-emerging centres for new investment.
Manufacturing accounted for 40% of the EU firms’ sectoral footprint, followed by professional services (16.6%), ICT (12%), administrative support (9.4%) and trade (6.2%).
The EU was India’s top trading partner and leading foreign investor, with bilateral trade nearing €200 billion and investment stock at €140 billion.
EU Ambassador to India Hervé Delphin said EU business in India was “about creating jobs at scale and driving real innovation and collaboration.”
