India Invites Romanian Firms to Boost Manufacturing Ties

Through​‍​‌‍​‍‌​‍​‌‍​‍‌ different flagship initiatives like Make in India and the Production-Linked Incentive (PLI) schemes, India is calling for Romanian companies to be the part of its manufacturing and innovation landscape that is changing fast.

Local State Commerce and Industry Minister, Jitin Prasada, was the one announcing such news at the India–Romania Business Forum in Brașov. The event was a collaboration between Brașov Chamber of Commerce and Industry (CCIBv), the Embassy of India in Bucharest, and the Department for Promotion of Industry and Internal Trade (DPIIT).

The forum aimed at deepening the bilateral trade and industrial cooperation by hosting business leaders from the most promising sectors such as automotive, aerospace, defence, renewable energy, engineering services, and ICT. The talks revolved around India’s policy reforms, incentives at the state level, and several measures for easy business in the key industrial corridors that offered to meet the reforms.

Also Read: KP Group, Fabtech Forge Alliance for Green Facilities

Additionally, the event featured the signing of Memoranda of Understanding (MoUs) and matchmaking sessions to find joint ventures, technology partnerships, and strategic collaborations between Indian and Romanian enterprises.

In a meeting with Romania’s Minister of Foreign Affairs, Oana-Silvia Țoiu, Prasada talked about the importance of the bilateral trade by pointing out the huge potential in cross-border transactions as well as deepening trade relations with EU. They also welcomed the idea of a free trade agreement (FTA) between India and the EU which would complement and cross-fertilize the existing trade relations within a year’s time.

The Brașov Forum is a major step forward in India's efforts to strengthen ties with Central and Eastern Europe through collaboration in areas like sustainable manufacturing, green energy, and high ​‍​‌‍​‍‌​‍​‌‍​‍‌technology.