Venkaiah Naidu calls for Augmenting Romanian Investment in India

Bucharest: Projecting India as an attractive investment destination and its booming economy, expected to touch $5 trillion marks by 2025, Vice President M. Venkaiah Naidu on Thursday invited Romanian investors to be part of the growth story. Addressing the India-Romania Business Forum Meeting here, Naidu called for further scaling up of the already robust annual bilateral trade that has risen to $810 million in 2017-18. “Our annual bilateral trade has risen to $810 million in 2017-18, a 40 percent increase over last year ($575 million). This is a huge development in our bilateral economic relations. We need to sustain this momentum to scale it up even higher,” he said.

He said that India’s recent economic transformation presents fresh opportunities in multiple sectors for Romanian investors and added that with a growth rate over 8 percent, India is one of the fastest growing large economies in the world.

Naidu said India is the most attractive FDI destinations in the world with one of the best regulated financial systems. He also said that with demonetization and successful implementation of the GST, India has emerged as a transparent, modern and unified market. He also enumerated the benefits derived from the Narendra Modi-led government’s flagship programmes such as the Jan Dhan Yojana and asserted that there exists greater ease of doing business and harmonized tax rates. (IANS)