TRADE BETWEEN ROMANIA AND INDIA
- Export 2020 – 176.39 & 2021 – 171.8 USD Mill
- Import 2020 – 357.32 & 2021 – 403.33 USD Mill
Chennai, 3rd December: HCC established in 1945, one of the largest Chambers authorized by the Government of India. Romania successfully presented their business opportunities organized by Hindustan Chamber of Commerce at H.C.Kothari Memorial Hall, Chennai. Ambassador of Romania H.E.Mrs.Daniela Mariana Seznov Tane, along with H.E.Mr.Vijay Mehta, Hony. Consul General of Romania and H.E.Mr.Purrshottam Bhaggeria, Hony. Consul General of Moldova will shared the details about the investment and business opportunities in Romania.
Romania is located in the GMT+2 time zone at the crossroad of tree large markets UE, CIS and Middle East, bridge between East and West for 500M consumers market. Romania owns 1/3 of the Danube River, also standing as the most significant gateway to the Black Sea through Constanta Port, the largest and deepest port (25 meters) at the Black Sea.
The Programme was aimed at discussing about the economic activities where the FDI stock was channelled primarily to manufacturing (29.0% of total FDI), out of which the largest recipients were: 22.4% transport equipment, 20.4% oil processing, chemical, rubber & plastic products, 12.4% metallurgy Apart from industry, other activities that also attracted significant FDI were 16.9% construction & real estate transactions, 16.6% trade and 11.5% financial intermediation & insurance.
On the occasion of the programme CA.K. Suresh, President, HCC, said that there are plenty of investment opportunities on Digitalization of the agriculture sector, Irrigation infrastructure, drainage and soil erosion, Mechanization and the extensive use of modern technology, Collecting, storage systems and processing of agriculture products and The Organic Farming segment.
Ambassador of Romania H.E.Mrs.Daniela Mariana Seznov Tane quoted, Romania is one of the most competitive labour force in the EU (€8.1), Investors that set up manufacturing locations or offices in an industrial, scientific or technological park benefit from Exemption on land, building and urban planning tax and Exemption on taxes charged for changing land destination. The Romanian tax System are 35% Social Security the key facts for top tech-oriented industries in Romania, Continental EUR 175M investment in 2017, Daimler EUR 250M in 2018 investment for gear boxes, Ford EUR 200M investment for production of new model, Siemens software dev. worked on the Mars Rover, Deutsche Bank EUR 40M investment, LiveRail was acquired by Facebook for EUR 600M, Airbus Helicopters EUR 15M investment and many more.
CA.K. Suresh, President, Hindustan Chamber of Commerce, Mr.N.Ramanathan, Chairman, Industries Committee, HCC, Mr.Mahesh Mehta, Co-Chairman, Industries Committee, HCC, Mr.Linesh Sanat Kumar, Vice President, HCC, Mr.Vijay P. Chordia, Vice President, HCC, Ms.K.G. Chitra, Secretary, HCC along with all members of Chamber are attended the programme .