How India and Romania Are Boosting Business Links for a Stronger Economic Future

India's Minister of State for Commerce & Industry, Shri Jitin Prasada, held a bilateral meeting with Romania's Minister of Foreign Affairs, H.E. Ms. Oana-Silvia Țoiu, in Bucharest to expand bilateral trade and establish resilient supply chains within the India-EU economic framework. India's exports to Romania reached USD 1.03 billion in FY 2024-25, with overall bilateral trade at approximately USD 2.98 billion in FY 2023-24, underscoring Romania's significance as a trading partner.

Priority Sectors for Collaboration

Both ministers identified critical sectors for deepening supply-chain linkages. Petroleum products, engineering goods, pharmaceuticals, and ceramics were designated as priority areas for collaboration. By focusing on these important sectors, India and Romania aim to create diversified and mutually beneficial trade corridors. This sectoral approach enables businesses from both countries to identify concrete opportunities and develop collaborative frameworks tailored to specific industry requirements.

Market Access and Supply Chain Resilience

The bilateral discussions emphasized the importance of standardization, testing procedures, and investment partnerships as enablers of enhanced market access. Both sides agreed to facilitate collaboration in these areas, recognizing that regulatory alignment and quality assurance mechanisms are fundamental to the free movement of goods and services. Additionally, both nations committed to working together on diversification of production and constructing supply chains characterized by resilience and stability, thereby providing businesses with the confidence necessary to invest in long-term partnerships.

India-EU Free Trade Agreement

A significant outcome of the meeting was the mutual commitment to conclude a fair, balanced, and mutually beneficial India-EU Free Trade Agreement within the current year. This commitment aligns with the political direction established by leadership of both India and the European Union.

Institutional Framework for Sustained Engagement

To sustain the momentum generated by recent high-level engagements between Indian and Romanian leadership, both sides agreed to establish a regular calendar of bilateral exchanges. This institutional framework will facilitate continuous dialogue on trade matters, investment opportunities, and emerging economic challenges. Furthermore, the ministers decided to coordinate follow-up actions focused on streamlining trade procedures, developing a mobility toolkit for skills-based exchanges, and intensifying investor outreach programmes to convert identified opportunities into concrete economic outcomes.