EU businesses in India: 5,833 firms, EUR 186 billion turnover, and a deeper economic stake

EU companies in India have established a substantial economic presence, with 5,833 EU-affiliated firms operating across the country as of March 2024 and generating EUR 186 billion in turnover. This footprint spans manufacturing, services, technology and trade, reflecting a partnership that extends well beyond headline trade figures into jobs, taxation and regional industrial development.

EU businesses deepen their footprint in India, generating €186 billion in turnover and driving growth across key sectors.

Spread across India

The number of EU affiliate firms in India has grown from 3,452 in 2014-15 to 5,833 in 2024, marking a steady expansion over a decade. Maharashtra, Karnataka, Delhi, Tamil Nadu and Haryana together host 85% of these firms, while Telangana and Gujarat each account for about 4%. The geographic distribution shows that EU business activity is anchored in India’s major industrial and services hubs, with a growing presence in emerging state economies.

Turnover and sector profile

EU firms generated EUR 186 billion in turnover in 2024, equivalent to around 5% of India’s economy and approximately 23% of India’s manufacturing sector turnover. Manufacturing remains the largest sector for EU affiliates, followed by professional services, information and communication technology, administrative and support services, and wholesale and retail trade. This sectoral mix points to a broad-based engagement in both production and high-value services.

Jobs and tax contribution

EU companies supported nearly 6 million jobs in India in 2024, including 3.7 million direct jobs and about 2 million indirect jobs. These firms also paid more than EUR 7 billion in taxes during the year, contributing to public revenues while embedding themselves in India’s employment and fiscal ecosystem.

EU businesses are helping drive India's growth through investment, trade, job creation, and long-term economic engagement.

Trade and investment momentum

Goods trade between the EU and India reached EUR 120 billion in 2024, nearly doubling over the 2014-2024 period. Services trade rose to nearly EUR 60 billion in 2023, up from EUR 24.6 billion in 2014. EU firms are estimated to have invested approximately EUR 218 billion in India between 2014 and 2024, with manufacturing, ICT, renewables and automotive-related sectors among the main areas of investment.

A state-level story

The India-EU economic relationship is not confined to a single corridor but is spread across multiple states and industrial clusters. This state-level breadth gives the partnership a wider economic base and makes it relevant to policymakers and industry leaders across India, from traditional manufacturing belts to emerging technology and services hubs.

EU businesses in India now represent a long-term, structurally embedded presence, with measurable impact on production, employment, trade and regional development.

This article is based on findings from The Economic Footprint of EU Businesses in India (2026), a report by Sangeeta Khorana and Amrita Saha, published by the Delegation of the European Union to India and Bhutan and the European External Action Service (EEAS).