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IANS Nov 21, 2014, 03.01PM IST

(Purinoted that India's)

BRUSSELS: Indian Ambassador to the European Union (EU) and Belgium Manjeev Singh Puri has called for energising EU-India trade and economic relations.

"Please energise your constituents across the European Union because India has opportunities. The government is interested very much. The entire business of 'Make in India' encompasses this entire thing of ease of doing business in India," he said in his inaugural address at an EU-India economic forum which kicked off in Brussels Thursday night.

"What you require is a determined will and willingness to partake in this new India, these new opportunities arising which the whole world is talking about," he said.

Puri noted that India's trade with the EU has dipped a little in the last years in the aggregate terms although India's exports to the EU have risen, but overall EU imports to Indian have fallen in the last few years.

"The EU-India free trade agreement (FTA) is very important but it should not be seen as a panacea for everything. It has to be a win-win for both sides," stressed the Indian ambassador.

The two-day conference around the theme, "EU-India Strategic Partnership: Beyond the Lost Decade: What will it take for European and Indian Businesses to make it Work", has been organised by the Euro-India Chamber of Commerce (EICC).

Sunil Prasad, secretary general of the EICC, said the objective of the Trade and Investment Partnership Summit (TIPS) is to create awareness on international business opportunities and feasibility of cross-border expansion for Indian and European businesses.

He said that it was dedicated to fostering bilateral trade, investment and economic relations between the EU and India .

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India wants to energise trade ties with European Union

AP Nov 20, 2014, 05.08PM IST

(EU legislation limits bankers')

BRUSSELS: A key adviser to the European Union's highest court is siding against Britain and wants the EU cap on bankers' bonuses to be maintained.

Advocate General of the European Court of Justice Niilo Jaaskinen recommended Thursday that British attempts to derail the EU financial law ``should be rejected,'' advising the court to dismiss the action.

EU legislation limits bankers' bonuses at one year's base salary and double that if a large majority of shareholders agree. The advice of the advocate general is confirmed in a majority of cases when the court itself makes a ruling, which is expected within months.

Britain says the rules will lead to an increase in bankers' fixed pay, drive away talent and weaken Europe's financial industry, the heart of which is in London's City.

The government of Prime Minister David Cameron wanted to keep such decisions as a national prerogative. The issue of whether the EU should make decisions against the wishes of London goes to the heart of the debate whether Britain should stay within the 28-country bloc.

Jaaskinen said in his assessment that he ``finds no legitimate grounds for the UK's claim'' that the EU should stay out of such issues.

Backers of the cap say huge bonuses pushed bankers to seek short-term personal gain through massive long-term risks that threatened the overall health of theirs banks _ and ultimately needed bailouts funded by taxpayers. They say such incentives to risk-taking helped destabilize the financial system and trigger the 2008-2009 financial crisis.

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European Union Court adviser backs cap on bank bonuses

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