The European Union (EU) is the second largest economy in the world comprising of a group of 28 countries that operate as a cohesive economic and political block. The EU grew out of a desire to form a single European political entity to end the centuries of warfare among European countries that culminated with World War II and decimated much of the continent.
Currently, the euro (€) is the official currency of 19 out of 28 EU member countries which together constitute the Eurozone, officially called the euro area.
The EU economy consists of an internal market of mixed economies based on free market and advanced social models. The EU’s gross domestic product totaled $18.8 trillion (nominal) in 2018.
Established in 1983, the European Union Delegation to India is a diplomatic mission representing the European Union (EU) to India together with the 28 Member States of the European Union. It performs a variety of tasks aimed at enhancing relations between the EU and India. The EU works closely with India to promote peace, create jobs, boost economic growth and enhance sustainable development across the country.