INDO-ROMANIAN TRADE TO GET A BOOST
MARAN ADDRESSES INDO-ROMANIAN
JOINT COMMISSION & JOINT BUSINESS COUNCIL
Shri Murasoli Maran, Union Minister of Commerce
& Industry, has said that the bilateral trade between India
and Romania is set to increase from the current level. Addressing
the Joint Inaugural Session of the 15th Session of
Indo-Romanian Joint Commission and 8th Meeting of Joint
Business Council at Bucharest, last evening, Shri Maran said that
this meeting would explore new dimensions in bilateral trade and
investment giving fillip to the existing economic cooperation
between the two countries. He emphasised the need to take innovative
measures and promote new means and instruments like consignment
sales, operation through Escrow Accounts and warehousing to maximise
our trade and investment.
The Minister pointed out that the bilateral trade
is much lower than its potential and there is need for the government
and businessmen to come together to augment it. The governments
must provide legal framework and an environment of certainty and
clarity for business enterprises to identify opportunities, he
added. Shri Maran spoke at length about the current economic scenario
of India and informed that India is one of the top three fastest
growing economies in the world and it has a potential of becoming
‘Growth Star’ of the next decade.
Shri Maran also explained in detail the most
open and liberal investment regime India have and said that the
peak tariff has come down from 200% to 35%. He asked Romanian
investors to invest in India in view of the unparalleled business
opportunities it offers for companies. He mentioned software and
IT-enabled services as a niche sector for India in the global
context.
