Romania is an ideal business destination in the Euro Zone

The historical relation between Romania and Kolkata is long. If we go back to history, Bengali poet Rabindranath Tagore visited Romania, entered from the Constanța port, where his penfriend, a young Romanian girl, was waiting to meet him, and he was conferred a Ph.D. degree at the University of Bucharest. Some of his works were translated into the Romanian language by a Bengali lady named Amita Bhose, who migrated to Romania; she taught some Romanian students Bengali language, and there was a Bengali learning course at the University of Bucharest.Romanian born historian of religions whose early research was into religious experience in Hindu traditions, especially yoga. From 1928–31 he was a student of Sanskrit and Indian philosophy at the University of Calcutta, following which he spent six months in an āśram at Rishikesh. Returning to Bucharest, he completed his PhD thesis, which was subsequently translated into English (1954) as Yoga: Immortality and Freedom.

‘Emerging Perspectives of Romania-India Economic and Business Ties: Focus West Bengal’ was organized by the Bharat Chamber of Commerce, on Monday, the 30th May, 2022 at ‘BHARAT CHAMBERS’, Kolkata. Her Excellency Mrs. Daniela-Mariana Sezonov Ţane, Ambassador of Romania in India graced the occasion as the Guest-in-Chief. In course of her address,

Her Excellency Mrs. Daniela-Mariana Sezonov Ţane, Ambassador of Romania in India observed that bilateral trade between India and Romania has significantly improved over the years, rising by 30 per cent in the last fiscal. Speaking on the trend of Indian investments in Romanian soil, Her Excellency Mrs. Tane informed that every year more Indian entrepreneurs are choosing Romania over the other EU countries because of the incentives being offered to them. “Indian investors may consider investing in Romania in sectors such as construction of shipyards and oil exploration as these sectors are currently regarded as the sunshine sectors”, she stated.

Speaking about the cultural ties that Romania shares with India, Her Excellency Mrs. Tane referred to the contributions made by eminent scholars like Mircea Eliade and Amita Bhose through their research on inter cultural interests. She requested the Chamber to take an initiative in facilitating Universities from West Bengal to sign MoUs with Romanian Universities and establish student exchange programmes. She felt that amid the ongoing Ukraine crisis, Romania is potentially equipped to become the most trusted partner of India in the Euro Zone.

“Romania aspires to reach US$ 1 billion in trade volume with India focused on expanding the scope for exports”, she added. In course of his Presentation, Mr. Ionut Mircea Viziru, Economic Secretary (Economic & Commercial), Embassy of Romania in India stated that Romania is an ideal business destination in the Euro Zone for emerging economies like India. He informed that key indicators which attract investments are highly impressive for Romania such as its minimum wage of EU 515 per month, which is the third lowest in the Euro Zone. In addition to this, fuel prices are cheaper compared to most European countries along with lucrative tax exemption schemes for investors who are willing to invest in the country’s 96 industrial parks. “Romania’s Dividend Tax rate is the lowest in Europe and no tax is levied on reinvested profits”, he added.

In his address, Mr. Sitaram Sharma, Former President and Mentor, Defence Sub-Committee of the Chamber requested Her Excellency’s offices in facilitating a meeting between Romanian defence OEMs and different private players in West Bengal involved in defence production and exports. The Ambassador expressed her interest in facilitating such an initiative. Earlier in his Welcome Address, Mr. N. G. Khaitan, President observed that Romania is placed high in the UN’s Human Development Index and the country’s per capita income is US$ 29,000, making it a Hidden Gem of Europe. Considering the nation’s comparative advantage in defence manufacturing, the President emphasized that the Chamber’s Defence Facilitation Centre should mediate in terms of attracting FDI from Romanian OEMs in West Bengal to assist in the creation of a future defence corridor.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button