ADDRESS BY THE HON’BLE PRESIDENT OF INDIA SMT. DROUPADI MURMU AT THE INDIA – ROMANIA BUSINESS FORUM

I am delighted to attend the India–Romania Business Forum today. I extend my appreciation to the Government of Romania, the business associations for their hard work in organizing this gathering and also to the members of leading companies from the countries present here today. The participation of large Indian business delegation reflects the growing confidence of Indian industries in the opportunities that Romania offers and their desire to build enduring partnerships with Romanian businesses. India and Romania have enjoyed warm and friendly relations for over seven decades. Our relationship is based on mutual trust, respect and shared democratic values. Today, as the global economy is undergoing profound transformation, our partnership has acquired renewed strategic importance.

Romania, with its strategic location at the crossroads of Europe, highly skilled human resources, advanced industrial capabilities and strong integration with the European Union, remains a natural and valuable partner for India. Romania serves not only as an important destination for investment but also as a gateway to the wider European market.

The conclusion of India-EU Free Trade Agreement (FTA) is an important milestone in India-EU strategic partnership. Trade and economic cooperation are central to the contemporary partnership. With a combined market of nearly two billion people and an economic size of around 25 trillion dollars, the India-EU FTA is among the most significant economic partnerships in the world and aims at deepening trade integration, strengthening investment flows, and building resilient and diversified supply chains. India and EU are also negotiating for the conclusion of India-EU Investment Protection Agreement (IPA), and Geographical Indications (GI) Agreement, which will further strengthen trade and economic partnership between the two sides.

The early and effective implementation of the FTA will be crucial. It will provide a predictable environment for businesses, enhance value chain integration, and create new opportunities for MSMEs, startups, and innovators on both sides.

There is significant untapped potential in our economic partnership. Bilateral trade has expanded steadily over the years, but it remains well below its true potential. Indian companies are exploring Romania as a strategic entry point to the European market, while Romanian businesses can explore new opportunities in India.

Besides India-EU FTA, India–EU Trade and Technology Council has emerged as a key platform for advancing cooperation in critical areas such as artificial intelligence, semiconductors, telecommunications, clean energy, and digital innovation.

We have also concluded the India–EU Security and Defence Partnership, which will strengthen coordination in defence industry collaboration and complement India’s strong bilateral defence ties with individual EU member states including Romania. Defence industrial cooperation is an important sector of our partnership and both sides can strengthen their defence capabilities with joint projects. India's rapidly expanding defence manufacturing ecosystem in line with the vision of Aatmanirbhar Bharat, offers opportunities for joint production, co-development, technology partnerships, maintenance, repair and overhaul (MRO), and collaboration in defence research and innovation.

Friends,

India is today one of the world's fastest-growing major economies. Our economic growth is driven by sound macroeconomic fundamentals, a vibrant entrepreneurial ecosystem, a large and skilled workforce, and sustained commitment to reforms. India is undergoing a remarkable transformation, emerging as a global leader in technology, innovation, and

sustainable development and experiencing significant success in sectors like renewable energy, digital technology, information technology, telecom, auto and auto-components, pharma and biotechnology, space and fintech. Our vision of 'Viksit Bharat 2047' aims to transform India into a developed nation by the centenary of our Independence. This journey presents immense opportunities for international partnerships, investment and technology collaboration. India is undertaking initiatives to create a transparent, predictable and investor-friendly business environment by simplified taxation and production-linked incentives.

There is also immense scope for collaboration in the energy security and green transition. India has emerged as a global leader in renewable energy, solar power, green hydrogen and sustainable biofuels. Romania's ambitious clean energy transition and expertise in nuclear energy, hydro- power and offshore wind create natural opportunities in this sector.

There is also scope for cooperation in the chemical & fertilizers industry, given Romania's capabilities in these sectors. Our companies can explore opportunities for long-term partnerships in fertilizer manufacturing, supply chains, joint investments aimed at supporting sustainable agriculture and ensuring food security.

India's globally recognised Digital Public Infrastructure, thriving start-up ecosystem and leadership in information technology can complement Romania's strengths in software engineering, cyber-security, research and advanced technologies. There are also opportunities for our companies to collaborate in transportation and logistics sectors including ports, railways, highways, logistics parks and multi-modal transport. We can also deepen cooperation in pharmaceuticals, healthcare, agriculture and food processing.

We have institutional mechanisms in place for advancing commercial and sectoral cooperation such as the Joint Economic Commission, the Joint Working Group on Energy, and the Joint Defence Cooperation Committee.

Conclusion of the Social Security Agreement and the Migration and Mobility Partnership Agreement would further facilitate movement of skilled workers between the two countries.

I am confident that our business communities will seize these emerging opportunities and transform them into successful commercial partnerships. I also encourage Romanian companies to participate actively in India's growth story. Our businesses can build resilient supply chains, generate employment, promote innovation and create sustainable prosperity for our peoples.

I am confident that today's interactions will lead to new partnerships, greater investments and lasting business relationships that will elevate India–Romania economic cooperation to new heights. I wish the India–Romania Business Forum great success!

Thank you!