India and Romania Forge Stronger Trade Ties: What’s Next for Bilateral Relations?

Strengthening Economic Bonds

New Delhi: To enhance trade and investment opportunities, Jitin Prasada, the Minister of State for Commerce and Industry, met with Romania's Foreign Affairs Minister, Oana-Silvia Țoiu, in Bucharest, as reported in an official statement on Tuesday.

The meeting aimed to discuss ways to increase trade, attract investments, and fortify resilient supply chains within the larger India-EU economic framework.

Both parties expressed their commitment to finalize a fair and balanced India-EU Free Trade Agreement (FTA) by the end of this year, aligning with the political guidance provided for ongoing negotiations, according to the Commerce Ministry.

The ministers evaluated the stable trade and investment relations that exist between India and Romania.

As per the ministry's report, both nations agreed to enhance supply-chain connections in key sectors, including petroleum, engineering, pharmaceuticals, and ceramics, while also facilitating collaboration in standards, testing, and investment partnerships to improve market access.

They also committed to working together to diversify production and establish more robust supply chains, ensuring stability and confidence for businesses in both countries.

The statement highlighted that following recent high-level interactions between Indian and Romanian leaders, both sides agreed to maintain this momentum through a regular schedule of exchanges.

Additionally, they decided to coordinate follow-up actions aimed at streamlining trade, developing a mobility toolkit, and enhancing investor outreach to turn opportunities into concrete results.

In FY2024–25, India's exports to Romania surpassed $1.03 billion, while total bilateral trade reached approximately $2.98 billion in FY2023–24.

On Monday, Romania indicated its willingness to create a pathway for employing around 30,000 skilled Indian professionals annually, in line with its labor market needs.