New Delhi, Nov 5 (NationPress) Minister of State for Commerce and Industry, Jitin Prasada, emphasized India’s status as one of the fastest-growing major economies, inviting Romanian businesses to engage in India’s vibrant manufacturing and innovation ecosystem through the ‘Make in India’ and ‘Production-Linked Incentive’ (PLI) initiatives, as stated in an official announcement made on Wednesday.

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

The forum aimed at enhancing bilateral investment and industrial collaboration between the two nations, gathering business leaders from critical sectors such as automotive, aerospace, defense, renewable energy, engineering services, and ICT, according to a ministry statement.

This business forum shed light on recent policy reforms, measures for ease of doing business, and state-level incentives across key industrial corridors.

Additionally, the session included the signing of Memoranda of Understanding (MoUs) and matchmaking activities aimed at exploring joint ventures and technology partnerships between Indian and Romanian firms.

As per the ministry, the Brașov Forum represented a vital milestone in India’s trade and investment interactions with Central and Eastern Europe, highlighting both countries’ dedication to establishing long-term economic connections in sustainable manufacturing, green energy, and high-tech industries.

Earlier, to promote trade and encourage investments, Prasada conducted a bilateral meeting with Romania’s Minister of Foreign Affairs, Oana-Silvia Țoiu, in Bucharest. Their discussions revolved around enhancing trade, attracting investments, and fortifying resilient supply chains within the broader India-EU economic framework.

Both parties agreed to strive for the conclusion, within this year, of a fair, balanced, and mutually beneficial India–EU Free Trade Agreement (FTA), in line with the political guidance set for ongoing negotiations, as stated by the Commerce Ministry. The Ministers reviewed the stable trade and investment relations between the two countries.

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