New Delhi, Nov 5 (IANS) Minister of State for Commerce and Industry, Jitin Prasada, highlighted India’s position as one of the fastest-growing major economies, inviting Romanian enterprises to participate in India’s dynamic manufacturing and innovation ecosystem under the ‘Make in India’ and ‘Production-Linked Incentive’ (PLI) schemes, according to an official statement on Wednesday.

The minister led the India business delegation at the India–Romania Business Forum, organised by the Chamber of Commerce and Industry of Brasov (CCIBv) in partnership with the Embassy of India in Bucharest and the Department for Promotion of Industry and Internal Trade (DPIIT).

The engagement focused on expanding bilateral investment and industrial cooperation between the two countries, bringing together business leaders from priority sectors such as automotive, aerospace, defence, renewable energy, engineering services, and ICT, according to a ministry statement.

The business forum outlined recent policy reforms, ease-of-doing-business measures, and state-level incentives across key industrial corridors.

The session also featured the signing of Memoranda of Understanding (MoUs) and matchmaking interactions to explore joint ventures and technology partnerships between Indian and Romanian companies.

According to the ministry, the Brașov Forum marked a significant milestone in India’s trade and investment engagement with Central and Eastern Europe, reaffirming both nations’ commitment to building long-term economic linkages in sustainable manufacturing, green energy, and high-technology industries.

Earlier, in a bid to expand trade and boost investments, Prasada held a bilateral meeting with Minister of Foreign Affairs of Romania, Oana-Silvia Țoiu, in Bucharest. 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.

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

—IANS

na/