India and Romania are taking decisive steps to expand their economic collaboration, focusing on trade, investment, and the movement of skilled professionals. Minister of State for Commerce and Industry Jitin Prasada met with Romanian Foreign Affairs Minister Oana-Silvia Toiu in Bucharest for a wide-ranging discussion aimed at deepening bilateral economic ties.

The high-level talks, convened under the India-EU economic framework, stressed enhancing resilient supply chains amid evolving international challenges. Emphasis was placed on concluding a comprehensive India-EU Free Trade Agreement within the year, reflecting political directives and the shared commitment to balanced outcomes.

India’s exports to Romania have surpassed $1 billion for FY 2024-25, marking significant growth. Bilateral trade totals reached approximately $2.98 billion in FY 2023-24. Both sides reviewed this robust trade relationship and agreed to prioritise sectoral cooperation.

Priority was accorded to fortifying supply-chain integration in segments such as petroleum products, engineering goods, pharmaceuticals, and ceramics. Discussion also encompassed reinforcing cooperation in technical standards, testing, and investment partnerships to widen opportunities and smoothen market access.

The meeting underscored the shared goal of establishing trusted, resilient supply chains, bolstering long-term business confidence for enterprises operating in both countries. Ministers acknowledged the recent surge in high-level exchanges and committed to regular dialogue on trade facilitation, investor outreach, and mobility schemes.

A key outcome was the decision to devise a specialised mobility toolkit, aimed at translating new economic opportunities into tangible benefits. Streamlining procedural hurdles remains a priority to maximise labour and investment flows.

As part of his official itinerary, Minister Prasada attended the 19th Joint Committee for Economic Cooperation. His Romanian counterparts, including Secretary of State Gabriel Bogdan Stetco and Managing Director Sorin Mihai Toader, received him upon arrival at Bucharest’s Henri Coanda International Airport.

During his visit, Prasada engaged extensively with Petre-Florin Manole, Minister of Labour, Family, Youth, and Social Solidarity, focusing on the demand-driven mobility of skilled professionals. With India’s youthful and vast workforce—boasting a median age of 29—the country is positioned to become the world’s third-largest economy by 2030.

Romania’s annual market demand for around 1,00,000 non-EU workers creates fertile ground for skilled Indian professionals. Both nations acknowledged readiness to facilitate the movement of approximately 30,000 Indian experts per year to address Romania’s labour market requirements.

India’s rapid ascent as a global manufacturing and technology hub remains pivotal in this partnership. Currently, India accounts for nearly 45 percent of the world’s capability centres and is investing heavily in advanced technology sectors. Ministers noted the importance of India-EU cooperation against the backdrop of shifting geopolitical and economic realities.

They reaffirmed their ambition to construct a robust, safe, and orderly mobility partnership supporting the managed migration of skilled professionals. Enhanced collaboration in education, research, innovation, and culture forms a foundational pillar for deeper people-to-people ties and long-term talent circulation.

Technical dialogues during the visit covered joint efforts in recruitment, language and vocational training, standardised employment contracts, and employer accountability. Agreement was reached on expediting placement procedures for verified employers. Both countries charged officials to pursue mutual recognition of qualifications and explore the feasibility of a Totalisation Agreement for social security portability.

Both sides resolved to maintain the current momentum, activating key enablers, and broadening the partnership in skills mobility, business engagement, and institutional cooperation.

These steps will ensure the India-Romania partnership grows more resilient and results-oriented across trade, technology, and human capital domains.

Based On ANI Report