New Delhi, July 14 -- The proposed India-European Union Free Trade Agreement (FTA) could help India redirect exports worth an estimated USD 10-11 billion from the United States to the European Union, reducing dependence on a single export market while expanding India's presence in Europe, according to a report by Rubix Data Science.

The report said that by streamlining customs procedures and reducing technical and regulatory barriers, the India-EU FTA could reinvigorate bilateral goods trade and help diversify India's export destinations beyond the major EU member states.

It stated, "Export diversification efforts could also help India redirect a portion of exports currently bound for the United States, with an estimated USD10-11billion...