Being the Ambassador of India, a country that is expected to have a significant impact on the global economy, is an honour of my life. After taking over as Ambassador a month ago, I have decided to start my national trip in Mumbai. My objective is to improve people-to-people travel and business relations between Romania and India since it will open the door to a more robust diplomatic partnership. We commemorated the tenth anniversary of our extensive partnership this year, concentrating on three key areas: manufacturing, IT, and energy. At an interactive meeting hosted by WTC Mumbai and the All India Association of Industries (AIAI), H.E. Ms. Sena Latif, Ambassador of Romania to India, said, “I invite Indian companies to collaborate with their counterparts in Cluj-Napoca, Romania’s second largest city, which is known as Silicon Valley of Eastern Europe because of its vibrant IT sector.”
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 provide 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 and renowned agricultural, veterinary, medical, and pharmaceutical institutions. With Constanța, the largest port in the Black Sea, Romania may serve as the entry point for Indian businesses travelling to Europe.
“Thousands of Indians are working in restaurants, construction, logistics, and other sectors in Romania,” the Ambassador said, highlighting the close bilateral relations. During the conflict in Ukraine, our nation assisted 10,000 Indian students in securely travelling to India. Given that Romania imports textile materials manufactured in India, the textile industry is a significant one in the trade sector. Since the Danube River flows through Romania and the Black Sea has several ports, shipbuilding may be a possible area for cooperation.
In response to the attending delegates’ commercial enquiries, the Ambassador stated that she could help them make business contacts in the automotive, textile, chemical, and alcoholic beverage industries, among other areas. The Ambassador stated that Romania already has a large number of auto-component and vehicle manufacturers, which presents a great deal of opportunity for collaboration.
between the two nations in this field. Other industries with possibilities for bilateral collaboration include cuisine, food, and tourism. Fresh apples, peaches, and other fruits are produced in Romania; commerce with India has potential for value addition and reexports. Romania is Europe’s sixth-largest producer of wine in the beverage sector. Thus, Indian businesses that manufacture wine’s components and raw materials are able to export to Romania.
After the conclusion of the ninth round of negotiations, H.E. Ms. Latif expressed optimism that the planned free trade agreement between India and the European Union will be finalised in the next months.
“India and Romania cherish more than 75 years of diplomatic relations,” said Capt. Somesh Batra, Vice Chairman, MVIRDC WTC Mumbai, earlier in his welcoming comments. WTC Mumbai is dedicated to strengthening this relationship via fostering collaboration in technology, commerce, investment, and tourism. I had the honour of attending the WTCA Board Meeting a few years ago in Bucharest, the capital of Romania.
talk about the plan to improve the commercial relationship with the WTC in Bucharest. Bilateral commerce is already worth USD 2.9 billion, and it might increase much more in the years to come. Romania has unrealised export potential to India of USD 620 million, whereas India has unrealised export potential of USD 897 million. Due to Romania’s abundance of rich land along the Danube River, Indian businesses are able to participate in the agricultural sector.
Capt. Batra recommended that the Ambassador visit WTCs in Goa, Jaipur, and Bhubaneswar to talk about potential ways to improve trade and investment relations with local firms. Capt. Batra urged Romanian businesses to engage in India by pointing out that just 50 Romanian businesses are conducting business in India, compared to over 550 Indian businesses functioning in Romania.
WTC Mumbai Executive Director Ms. Rupa Naik suggested a vote of gratitude for the occasion. Ms. Naik noted that the large number of industry representatives attending this session shows how eager the local business community is to learn more about the Romanian market. According to Ms. Naik, “India is currently the second biggest Romania’s trading partner in Asia. WTC Mumbai will be crucial to strengthening our commercial and cultural ties. I recommend that Indian businesses go to the automobile, green energy, and pet food trade shows and expos that are scheduled for Romania in March and April of 2025.
MSMEs from a variety of industries, including oil and gas, construction, textiles, engineering, finance, and drinks, attended the event.