India, Romania to boost supply chains within India-EU economic framework

New Delhi, Nov 4 (IANS) In a bid to expand trade and boost investments, Minister of State for Commerce and Industry, Jitin Prasada, held a bilateral meeting with Minister of Foreign Affairs of Romania, Oana-Silvia Țoiu, in Bucharest, an official statement said on Tuesday.

The discussions focused on expanding trade, attracting investment, and strengthening resilient supply chains within the broader India–EU economic framework.

Both sides agreed to work towards the conclusion, within this year, of a fair, balanced, and mutually beneficial India–EU Free Trade Agreement (FTA), in line with the political direction set for the ongoing negotiations, according to a Commerce Ministry statement.

The Ministers reviewed the stable trade and investment ties between the two countries.

According to the ministry, both sides agreed to deepen supply-chain linkages in priority sectors such as petroleum products, engineering goods, pharmaceuticals, and ceramics, and to facilitate collaboration in standards, testing, and investment partnerships to enhance market access on both sides.

They also agreed to work together for diversification of production and to build stronger, more resilient supply chains as trusted partners, ensuring stability and confidence for businesses in both nations.

“Building on the recent high-level engagements between the leadership of India and Romania, both sides agreed to sustain the momentum through a regular calendar of exchanges,” said the statement.

They also decided to coordinate follow-up actions on streamlining trade, developing a mobility toolkit, and strengthening investor outreach to translate opportunities into tangible outcomes.

India’s exports to Romania crossed $1.03 billion in FY2024–25, while overall bilateral trade reached about $2.98 billion in FY2023–24.

On Monday, Romania expressed its readiness to create a pathway to employ about 30,000 skilled Indian professionals every year, aligned with the country’s labour requirement.

—IANS

na/