Being the Ambassador of India, a country that is expected to have a significant impact on the global economy, is an honor of my life. After taking over as Ambassador a month ago, I have decided to start my country trip in Mumbai. Since it will open the door to a closer diplomatic connection, my objective is to improve trade and people-to-people travel between Romania and India. We commemorated the tenth anniversary of our extensive partnership this year, concentrating on three key areas: manufacturing, IT, and energy.
H.E. “Last year, our bilateral trade volume hit a record high,” Ms. Latif said. However, it still fails to capture the full potential. The fields of agriculture, oil and gas, chemicals, engineering, education, filmmaking, and logistics all offer a wealth of opportunities for cooperation. I extend an invitation to Indian businesses and academic institutions to collaborate on research projects with our top Polytechnic University
Speaking about the strong bilateral ties, the Ambassador pointed out, “Thousands of Indians are working in restaurants, construction, logistics and other sectors in Romania. Our country helped 10,000 Indian students to reach India safely during the Ukraine war. In the area of trade, textile is a prominent sector as Romania imports Indian made textile materials. Shipbuilding can be a potential sector for collaboration as there are many ports in Black Sea and the Danube river which passes through Romania.”
Addressing the business queries of the participating delegates, the Ambassador informed that she can facilitate business connections for these delegates in textile, chemicals, alcoholic beverages, automotive and other sectors. In the automobile sector, the Ambassador informed that already many auto-component and vehicle manufacturers are located in Romania, which offers huge scope for partnership between both the countries in this sector. Tourism, food and gastronomy are other sectors with potential for bilateral cooperation. “Romania produces fresh apples, peaches and other fruits, where there is scope for trade with India for value addition and re-exports. In the beverage industry, Romania is the sixth largest producer of wine in Europe. So, Indian companies producing raw materials and ingredients for wine can export to Romania.”
H.E. Ms. Latif concluded her remarks by raising hope that the proposed free trade agreement between India and the European Union will conclude in the coming months as the 9th round of negotiation got over recently.
Earlier in his welcome remarks, Capt. Somesh Batra, Vice Chairman, MVIRDC WTC Mumbai pointed out, “India and Romania cherish more than 75 years of diplomatic relations. WTC Mumbai is committed to grow this relation by promoting trade, investment, tourism and technology cooperation. A few years ago, WTCA Board Meeting was held in the Romanian capital of Bucharest and I had the privilege to discuss roadmap to strengthen business partnership with the WTC in Bucharest. Currently, bilateral trade is USD 2.9 billion, which has potential to grow further in the coming years. India has untapped export potential worth USD 897 million, while Romania has USD 620 million worth untapped export potential to India. Indian companies can invest in agriculture as Romania is blessed with fertile land on the banks of the river Danube.”
Capt. Batra suggested the Ambassador to visit WTCs in Bhubaneswar, Jaipur and Goa to discuss possibilities for strengthening trade and investment ties with industries in these regions. Capt. Batra invited Romanian companies to invest in India by pointing out that while more than 550 Indian companies are operating in Romania, hardly 50 Romanian companies are doing business in India.
Ms. Rupa Naik, Executive Director, WTC Mumbai proposed vote of thanks for the event. Ms. Naik pointed out that the overwhelming participation of industry delegates to this event indicates the strong interest shown by the local business community to explore the Romanian market. Ms. Naik informed, “India is already the second largest trade partner of Romania in Asia. WTC Mumbai will play an important role in deepening our business and cultural relationship. I suggest Indian companies to attend the trade fairs and expos related to automotive, green energy and pet food, which are slated in Romania in March and April of 2025.”
