Romania invites India Inc to boost bilateral trade
Romania on Monday invited India Inc to invest in sectors like defence, energy, heavy industry and IT to give a thrust to the bilateral trade between two countries.
By PTI |
NEW DELHI: Romania on Monday invited India Inc to invest in sectors like defence, energy, heavy industry and IT to give a thrust to the bilateral trade between two countries.
Addressing a session organised by Indian industry chambers, the visiting Romanian President, Traian Basescu, said that India is one of the biggest investors in Romania and these investments were important for the its growth.
"Out of the $19 billion FDI outflow from India, Romania has attracted around $1.7 billion so far. We want these investments to strengthen further," Basescu said, adding that both the countries are currently studying the possibility of investments in various sectors including defence.
He said that to further bilateral trade between the two countries, Romania is looking at simplifying visa norms.
India and Romania earlier in the day signed a new economic co-operation agreements and a Memorandum of Understanding on co-operation between SMEs of the two countries.
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Minister of State for External Affairs Anand Sharma also invited Romanian businesses to invest India and said sectors like infrastructure development could be the possible areas of direct or indirect investments by Romania."India requires investments to the tune of 320 billion dollar for infrastructure development and Romanian companies can benefit immensely from participation in such projects individually or jointly with Indian partners," Sharma said.
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