India has had long-standing investment ties with various EU countries. Many EU countries are significant investors in India and several EU-based MNCs have business operations in India. Of late, Indian investments in the EU have also gained importance. Leading Indian IT companies have established local presence through branches and subsidiaries in several EU countries. Alongside the growing business relations between India and the EU, there is increased short-term and circular mobility of persons between India and the EU, in large part to support business operations in each other's markets.