As part of an important diplomatic engagement aimed at strengthening economic cooperation and strengthening trade relations, the Minister of State for Trade and Industry, Shri Jitin Prasada, held a bilateral meeting with the Romanian Minister of Foreign Affairs, HE Ms. Oana-Silvia Țoiu today in Bucharest. The high-level meeting marks a crucial step in strengthening the bilateral economic partnership between India and Romania in the broader context of relations between India and the European Union (EU).
Discussions focused on expanding bilateral trade, attracting investments and establishing resilient and diversified supply chains, particularly in priority sectors that align with the economic ambitions of both countries.
A renewed push towards the India-EU free trade agreement
Both ministers reaffirmed their commitment to the rapid conclusion of a comprehensive Free Trade Agreement (FTA) between India and the EU. Stressing the need for a fair, balanced and mutually beneficial agreement, they committed to working to complete the negotiations during this calendar year, in line with the political guidance issued at the highest levels of government.
The FTA, once finalized, is expected to improve market access, streamline regulations and create new opportunities for Indian and European businesses. Romania’s support for the deal underlines the EU’s growing recognition of India as a strategic trading partner.
Bilateral trade figures reflect growth dynamics
During the meeting, the ministers reviewed the strong trade and investment ties between the two countries.
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India’s exports to Romania exceeded $1.03 billion in fiscal year 2024-25, showing steady growth.
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Total bilateral trade reached USD 2.98 billion in fiscal year 2023-2024, reflecting balanced and stable economic engagement.
Both parties recognized this positive trajectory and committed to further diversifying trade baskets and investment portfolios. They discussed measures to reduce trade barriers, promote sectoral collaborations and exploit untapped commercial and industrial complementarities.
Focus on priority sectors and supply chain resilience
The dialogue included a detailed discussion on priority sectors for strengthening trade and industrial collaboration. These include:
Both countries agreed to deepen supply chain linkages in these sectors to ensure safe and reliable trade flows, particularly in a post-pandemic global environment where resilient supply chains have become a strategic imperative.
They further decided to strengthen cooperation in harmonization of standards, testing, certification and investment facilitation, with the aim of facilitating business and providing a predictable framework for companies from both sides.
Improving mobility and investment partnerships
Recognizing the growing role of skills-based partnerships and labor mobility, India and Romania have agreed to collaborate on the development of a mobility toolkit that supports people-to-people exchanges, particularly in sectors such as IT, engineering, healthcare and skilled manufacturing.
Ministers also highlighted the importance of investor awareness and engagement. Concrete steps to facilitate investment flows, joint ventures and technology partnerships should be taken through dedicated follow-up channels, including business summits and trade missions.
Regular exchanges to maintain bilateral dynamics
Recognizing the recent spate of high-level engagements between India and Romania, the two leaders agreed to maintain regular diplomatic and institutional interactions. A timetable for economic and commercial exchanges should be established to keep bilateral cooperation active and aligned with evolving global trade dynamics.
Such sustained engagement will also enable both sides to monitor the implementation of agreed actions, resolve trade bottlenecks and translate policy dialogues into trade gains.
Common vision for a stronger strategic economic partnership
The meeting between Shri Jitin Prasada and HE Oana-Silvia Țoiu demonstrates a common strategic vision aimed at elevating India-Romania ties into a comprehensive and future-ready economic partnership. It highlights the countries’ common ambition to:
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Increase trade volumes and reduce barriers
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Strengthening bilateral and EU-level cooperation
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Promote investments in key sectors
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Strengthening the links between innovation and technology
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Supporting sustainable, secure and diverse supply chains
As India continues to expand its trade relations with Europe, Romania is emerging as a key partner in Eastern Europe, providing a bridge between Indian and European markets through geopolitical alignment and economic synergy.
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