"Game changer for trade": MEA highlights Romania's key role in India-EU partnership during President Murmu's visit
Bucharest, July 24
President Droupadi Murmu's official visit to Romania from July 23-25 has significantly bolstered bilateral commercial ties, with both nations identifying key sectors for expansion and emphasising the transformative potential of the India-EU Free Trade Agreement.
Addressing a special media briefing on the visit, Secretary (West) in the Ministry of External Affairs, Sibi George, detailed President Murmu's high-level engagements, including a bilateral meeting with Romanian Prime Minister Ilie Bolojan and a joint address with Romanian President Nicusor Dan at the India-Romania Business Forum.
The Business Forum brought together approximately 200 business representatives, including a prominent Indian delegation led by FICCI, CII, and ASSOCHAM. The delegation represented critical growth sectors such as artificial intelligence, cybersecurity, defence, aerospace, pharmaceuticals, and manufacturing.
"The focus of the deliberations at the Business Forum was enhancing collaborations in '3 Ts': Trade, Technology, Tourism, and of course, Talent," George said, noting that Romania's strategic position within the European Union offers significant advantages for Indian enterprises.
"Romania, being a member of the European Union, offers huge scope for Indian companies to produce for the domestic as well as for the broader European market. With the presence of around 1,000 Indian companies in Romania, it will create long-term opportunities for more collaboration," he added.
Discussions between President Murmu and Prime Minister Bolojan focused heavily on bilateral engagement and the broader India-EU relationship following the landmark FTA agreed upon earlier this year.
"The conclusion of the India-EU FTA and adoption of the 'India-EU Towards 2030' joint comprehensive strategic agenda identifying important areas of cooperation like sustainability, technology and innovation, security and defence, and connectivity would be a game changer in expanding and enhancing the trade and investment ties with the EU, including with Romania," MEA Secretary (West) noted.
Responding to queries about the roadmap for doubling bilateral trade over the next three years, the MEA confirmed that necessary policy frameworks are now firmly established.
"We have the framework in place. And with the FTA in place, there is every possibility of more opportunities for businesses to engage," he said.
Achieving this growth will depend primarily on sustained private-sector engagement, expanded trade missions, and stronger ties between Romanian businesses and industrial hubs across Indian states.
"The businesses of both countries need to engage closely. There need to be more business delegations from here to India, more from India to Romania, more interaction," added George.
— ANI
Reader Comments
Interesting development. India's push for FTAs with multiple European nations is smart. Romania with its growing tech sector and affordable workforce could be a good partner for India's IT and pharma exports. Let's see if the trade numbers actually double in 3 years.
While this is positive, I hope the government also focuses on domestic manufacturing instead of just being a base for European markets. We need more Make in India for India first. The FTA should have strong safeguards for our farmers and small industries.
My cousin works for an IT company that has an office in Bucharest. He says the Romanian tech talent is really good and the time zone difference with India works well for 24/7 operations. This visit will definitely open more doors for Indian IT and pharma firms. 😊
Important step but I hope India doesn't get too dependent on EU markets. Diversification is key. Also, Romania is still developing infrastructure-wise compared to Western Europe. Indian companies should do thorough due diligence before investing heavily.
The 3Ts framework - Trade, Technology, Tourism, Talent - is exactly what we need. Romania has beautiful Carpathian mountains and Black Sea coast, could be a great destination for Indian tourists. And for talent exchange, our IT professionals can learn a lot from Romanian cybersecurity experts.
A Ananya R