MR Jyotiraditya M. Scindia, Union Minister of State for Commerce &
Industry, signed the 17th
Joint Economic Committee Protocol in Bucharest with his counterpart
yesterday. During the meeting he urged the Indian industry to utilise the
opportunities to present themselves in Europe for investments and cutting-edge
technology ventures. Romania is actively looking at diversifying its economy and
Indian corporates can play a significant role as enablers in this process.
In a bilateral meeting with his counterpart Mr. Ion Ariton, the Romanian
Minister for Economy, Trade and Business Environment Minister Scindia expressed
hope to double bilateral trade and economic cooperation in the next three years
by 2015. The JEC which met after a hiatus of 8 years resolved to promote
investments and JVs in areas of supply of equipment for metallurgy and energy
industry, cooperation between Micro small and medium enterprises, Transport and
infrastructure field, IT and ITES, cooperation in technical textiles, and
Tourism. Even in the midst of the EU crisis, during the current fiscal 2011-12,
bilateral trade between India and Romania has grown by 6%.
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