Naidu asks Romanian bizmen to create 'genuine, multi-faceted' partnership


Bucharest, Romania, Vice President M Venkaiah Naidu has asked Romanian businessmen to create a 'genuine, multi-faceted' Indo-Romanian partnership and invited them to partner with India in its exciting and transformative journey. In 2017-18, annual India-Romania bilateral trade had risen to 810 million U S dollars , a 40 per cent increase over last year (575 million U S dollars), he told participants at the India-Romania Business Forum Meeting, in Bucharest, Romania on Thursday. Saying that India’s economic transformation in recent past presented fresh opportunities in multiple sectors for Romanian entrepreneurs, the Vice President invited them to invest in India. 'With a growth rate over eight per cent, India is one of the fastest growth rates in the world for a large economy,' he added. 'This is a huge development in our bilateral economic relations and we need to sustain this momentum to scale it up even higher,' he said. India had managed a positive swing in stock market indices, foreign exchange reserves, and public investment in infrastructure and welfare measures, Mr Naidu told the Romanian businessmen. Government investment in infrastructure development had increased exponentially and it was already visible in the improved railways, roads, airports and shipping infrastructure in our country, he pointed out. Romanian Senate President Calin Popescu-Tariceanu, Romanian Vice Prime Minister Dr Ana Birchall, Minister of State for Finance Shiv Pratap Shukla and other dignitaries were present on the occasion. As one of the best regulated financial systems in the world, India was among the most attractive FDI destinations in the world, he said. 'Demonetisation and GST has been successfully implemented for the country to emerge as a transparent, modern and unified market. Greater ease of doing business was being reported from different corners of the country and tax rates are harmonised across the country,' he noted. More than 320 million bank accounts had been opened under the Jan Dhan Yojana for the first time enabling direct cash benefit transfers and millions of LPG connections have been given to rural women, he said, according to an official release.