Romania is consolidating its position as a reliable economic partner for India in Central and Eastern Europe. “We have the infrastructure, the expertise, and membership in the world’s largest common market – the European Union – while India brings a spectacular growth rate and a huge consumer market,” stated Radu Miruță, Minister of Economy, Digitalization, Entrepreneurship, and Tourism, during the 19th session of the Romania–India Joint Economic Committee (JEC).
The event marked over 75 years of diplomatic relations and more than a decade of an extended partnership between the two countries. The Indian delegation, led by Jitin Prasada, Minister of State for Commerce and Industry of the Republic of India, included 23 business representatives from sectors such as energy, IT&C, defense, infrastructure, agriculture, tourism, and food industry.
India-Romania Joint Committee Protocol: A New Phase in Cooperation
During the JEC session, the ministers signed the Protocol for the India-Romania Joint Committee, marking a new stage in bilateral cooperation. “Signing the Protocol for the India-Romania Joint Committee is an important step in strengthening economic cooperation, with a focus on innovation, entrepreneurship, and sustainable industrial development,” said Indian Minister Jitin Prasada.
This step symbolizes the relationship entering a higher phase, with concrete projects and initiatives in strategic areas for both economies.
Brașov Forum: Investment and Bilateral Opportunities
In Brașov, the Chamber of Commerce and Industry hosted a meeting between the Indian delegation and Romanian entrepreneurs. The forum focused on expanding cooperation in sectors such as:
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Automotive and aerospace industries
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Defense and drone technology
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Green energy and sustainable production
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IT&C and engineering services
India promoted initiatives such as Make in India and the Production Linked Incentive (PLI) programs, offering financial incentives to companies expanding manufacturing in India.
The Brașov Chamber of Commerce and Industry (CCIBV) and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed a Memorandum of Understanding to strengthen cooperation in trade and investment through business forums, trade missions, and information exchange.
Meetings with Romanian Ministers and New Opportunities
The Indian delegation also held discussions with several Romanian ministries:
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Ministry of Energy: Investments and sustainable partnerships for green growth
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Ministry of Transport: Development of infrastructure, logistics, and bilateral connectivity
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Ministry of Investments and European Projects: Strengthening investment and industrial links
These meetings reflect both sides’ interest in developing strategic collaborations and concrete projects in priority sectors.
India: The New Global Economic Power
India is increasingly relevant globally, ranking as the fourth-largest economy in the world by nominal GDP, with projected growth of 8–9% annually – the fastest among emerging and developed economies. Its economy is driven by domestic consumption, services (especially IT), and exports of technological, electronic, and pharmaceutical products.
International experts, such as Frank-Jürgen Richter, founder of Horasis, consider India the “new China,” a country with immense potential for global production and services, attracting the attention of multinational companies.
Multinational Companies Eyeing India
A study by the Indo-American Chamber of Commerce shows that 220 Fortune 500 companies are investing in India, across diverse sectors:
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Food and beverages: Coca-Cola, Pepsi
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Consumer electronics: Samsung, LG, Philips
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Automotive: GM, Ford, Toyota, Hyundai, Renault, Volkswagen
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Software and technology: IBM, Sun Microsystems
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Pharmaceuticals: GSK, Pfizer
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Consumer goods and logistics: Unilever, DHL, FedEx
This demonstrates the attractiveness of the Indian market and its enormous growth potential.
Romania–India Trade: Statistics and Outlook
In 2023, Romania–India trade reached its highest level in the past 15 years, positioning India as Romania’s second-largest Asian trade partner. In 2024, bilateral trade decreased by 39%, totaling USD 1.059 billion, but the trade deficit was significantly reduced.
Romanian Exports to India (H1 2025)
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Bearings: 18.2%
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Electrical panels and boards: 11.8%
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Electrical devices for telecommunication: 7.3%
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Petroleum oils: 5.8%
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Instruments for physical or chemical analysis: 4.8%
Romanian Imports from India (H1 2025)
These figures highlight a bilateral trade relationship with significant growth potential, particularly in industrial and technological sectors.
Conclusion
The Romania–India economic partnership is entering a stage of consolidation and diversification. With robust infrastructure, technological expertise, and access to the European market, Romania can become a key strategic partner for India in Central and Eastern Europe. At the same time, India offers access to a vast, fast-growing market with opportunities for collaboration across multiple strategic sectors, from IT and green energy to automotive and defense industries.
