NEW DELHI: India and The Netherlands on Thursday agreed to boost bilateral trade and investment and strengthen cooperation across multiple sectors, including agriculture and food processing, water management and science and technology, following a bilateral summit between Prime Minister Narendra Modi and his Dutch counterpart Mark Rutte.
Jointly addressing the media with Rutte after attending an India-Netherlands CEOs Round Table that followed the bilateral summit, Modi said that hundreds of Dutch companies have been operating in India for many years now.
“The Netherlands is the fifth largest source of the total foreign direct investment made in India till now,” he said.
“And in recent times, it has even risen to become the third largest source.”
Modi said that in the same way The Netherlands is a very attractive investment destination for Indian companies. According to figures released by the External Affairs Ministry, India and The Netherlands have a bilateral trade of $7.621 billion (April 2017-February 2018).
Stating that the interaction with the CEOs of the two countries was very productive, the Indian Prime Minister said: “I am happy that the business community of The Netherlands is enthusiastic about the new opportunities arising in India. I have assured them of my strong commitment to the economic reforms.”
On his part, Rutte said that ties between India and The Netherlands have become very close both on the economic and the political sides.
“Many Indian companies, which are active in The Netherlands, are helping us to build a more successful and more resilient society,” he stated.
According to a joint statement issued following the summit, Modi and Rutte acknowledged the role of the private sector in boosting trade and investment relations and underlined the opportunities for intensive Indo-Dutch collaborations under India’s flagship initiatives such as Make in India and StartUp India.
“Highlighting the role of youth in enhancing future collaboration in innovation and start-ups, the leaders welcomed the launch of the StartUpLink initiative by Invest India and the Netherlands Embassy in Delhi,” the statement said.
In his address, Modi said that agriculture and food processing hold special significance for India as these are related to the country’s food security.
“At the same, the target of doubling the income of Indian farmers is also of great significance,” he said.
Stating that The Netherlands have great experience in these areas, he expressed happiness that the Indo-Dutch Centre of Excellence on vegetables has started functioning in Baramati, Maharashtra.
“We are working on setting up more such centres,” Modi stated.
Highlighting The Netherlands’ role in urban development in India, he said water management projects in Delhi and Vadodara were progressing well.
— IANS
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