Joint R&D to be expanded under Programme of Cooperation in Science and Technology
The President of India, Droupadi Murmu, and Romania President Nicusor Dan have agreed to further deepen cooperation across areas of priority for their two countries while discussing all major dimensions of bilateral partnership.
The President arrived in Romania on 23 July 23 on the last leg of her State Visits which included Moldova and North Macedonia.
President Murmu noted that India and Romania have shared a warm and enduring friendship for over seven decades, founded on mutual trust, respect and strong people-to-people ties. “Over the years, our partnership has steadily grown stronger and is now entering a new phase marked by greater ambition, stronger cooperation and a shared vision for the future,” she said during her one-to-one meeting with the host President Nicusor Dan.
The President said that economic cooperation remains an important pillar of the India-Romania partnership. The two leaders agreed to promote trade and investment, strengthen resilient supply chains, and encourage closer collaboration between the business communities of our two countries. They also agreed to work towards doubling our bilateral trade over the next three years.
The President said that Romania is an important partner for India within the European Union. She underlined that the India–EU Free Trade Agreement will open unprecedented opportunities for the industries and skilled professionals of the two countries.
The President said that education, culture and people-to-people contacts remain the foundation of India–Romania relations. She was happy to note that three important agreements in these areas were signed today.
The President said that India and Romania will expand joint research and development under the Programme of Cooperation in Science and Technology. An Indian Studies Chair is being established at the University of Bucharest with the support of the Indian Council for Cultural Relations (ICCR). The Government of India has decided to double the number of training opportunities for Romania under the Indian Technical and Economic Cooperation (ITEC) Programme.
The President said that as India and Romania prepare to celebrate the 80th anniversary of the establishment of diplomatic relations in 2028, the two sides have agreed to commemorate the occasion as the “India–Romania Year of Innovation.”
On 24 July, the President addressed the India-Romania Business Forum and visited the Parliament of Romania as well as the Bucharest University of Economic Studies.
Addressing the India–Romania Business Forum at Bucharest on 24 July, the President called for the early and effective implementation of the India-EU FTA will be crucial for combined markets of nearly two billion people and an economic size of around US$25 trillion. It is among the most significant economic partnerships in the world and aims at deepening trade integration, strengthening investment flows, and building resilient and diversified supply chains. She emphasised that. It will provide a predictable environment for businesses, enhance value chain integration, and create new opportunities for MSMEs, startups, and innovators on both sides.
President Murmu also highlighted Romania’s strategic location at the crossroads of Europe, highly skilled human resources, advanced industrial capabilities and strong integration with the European Union. Romania serves not only as an important destination for investment but also as a gateway to the wider European market.
She stated that the participation of a large Indian business delegation in this Forum reflected the growing confidence of Indian industries in the opportunities that Romania offers and their desire to build enduring partnerships with Romanian businesses.
The President said that India is undertaking initiatives to create a transparent, predictable and investor-friendly business environment by simplified taxation and production-linked incentives.
The President said that there is immense scope for collaboration in the energy security and green transition between India and Romania. Given Romania’s capabilities in the chemical & fertilizers industry, there is also scope for cooperation in this sector. India’s globally recognised Digital Public Infrastructure, thriving start-up ecosystem and leadership in information technology can complement Romania’s strengths in software engineering, cyber-security, research and advanced technologies.
She underlined that opportunities for companies to collaborate in transportation and logistics sectors, including ports, railways, highways, logistics parks and multi-modal transport. “We can also deepen cooperation in pharmaceuticals, healthcare, agriculture and food processing.” Fiinews.com
