. The formation of European Union has a drastic effect on India's trade. (IIML)

For:
* This may be read in light of trading equations with our biggest partners USA, UK and Germany where we had miserably failed to bargain given that most of our trade consumables have import exposures from these nations ; the European Union will further augment this situation.
Against:
* The EU would mean more exposure to a more stable currency vis-à-vis the presently volatile dollar tranche ; this would mean healthier earnings and repatriation .