India and Romania Deepen Trade Ties, Push for EU FTA and Supply Chain Growth

In a significant diplomatic engagement aimed at enhancing economic cooperation and bolstering trade relations, Minister of State for Commerce & Industry, Shri Jitin Prasada, held a bilateral meeting with Romania's Minister of Foreign Affairs, H.E. Ms. Oana-Silvia Țoiu, in Bucharest today. The high-level meeting marks a pivotal step forward in strengthening the India–Romania bilateral economic partnership within the broader context of India–European Union (EU) relations.

The discussions focused on expanding bilateral trade, attracting investments, and establishing resilient and diversified supply chains, especially in priority sectors that align with both countries' economic ambitions.

A Renewed Push Toward the India–EU Free Trade Agreement

Both ministers reaffirmed their commitment to the early conclusion of a comprehensive India–EU Free Trade Agreement (FTA). Emphasizing the need for a fair, balanced, and mutually beneficial accord, they pledged to work towards completing negotiations within this calendar year, in line with the political guidance issued at the highest levels of government.

The FTA, once finalized, is expected to enhance market access, streamline regulations, and create new opportunities for Indian and European businesses alike. Romania's support for the agreement underscores the EU's growing recognition of India as a strategic trade partner.

Bilateral Trade Figures Reflect Growth Momentum

During the meeting, the Ministers reviewed the robust trade and investment ties between the two nations.

• India's exports to Romania surpassed USD 1.03 billion in FY 2024–25, showcasing steady growth.

• Total bilateral trade reached USD 2.98 billion in FY 2023–24, reflecting balanced and stable economic engagement.

Both sides acknowledged this positive trajectory and committed to further diversifying trade baskets and investment portfolios. They discussed steps to reduce trade barriers, promote sectoral collaborations, and tap into untapped trade and industrial complementarities.

Focus on Priority Sectors and Supply Chain Resilience

The dialogue included a detailed discussion on priority sectors for trade enhancement and industrial collaboration. These include:

• Petroleum products

• Engineering goods

• Pharmaceuticals

• Ceramics and allied products

The two countries agreed to deepen supply chain linkages in these sectors to ensure secure and trusted trade flows, particularly in a post-pandemic global environment where resilient supply chains have emerged as a strategic imperative.

They further decided to strengthen cooperation on standards harmonization, testing, certification, and investment facilitation, aiming to enhance ease of doing business and provide a predictable framework for businesses on both sides.

Enhancing Mobility and Investment Partnerships

Recognizing the growing role of skills-based partnerships and workforce mobility, India and Romania agreed to collaborate on developing a mobility toolkit that supports people-to-people exchanges, especially in sectors such as IT, engineering, healthcare, and skilled manufacturing.

The ministers also emphasized the importance of investor outreach and engagement. Concrete measures to facilitate investment flows, joint ventures, and technology partnerships are expected to be taken up through dedicated follow-up channels, including business summits and trade missions.

Regular Exchanges to Sustain Bilateral Momentum

Acknowledging the recent wave of high-level engagements between India and Romania, both leaders agreed to maintain regular diplomatic and institutional interactions. A calendar of economic and trade exchanges is expected to be drawn up to keep bilateral cooperation active and aligned with evolving global trade dynamics.

Such sustained engagement will also allow both sides to monitor implementation of agreed actions, resolve trade bottlenecks, and translate policy dialogues into commercial gains.

Shared Vision for a Stronger Strategic Economic Partnership

The meeting between Shri Jitin Prasada and H.E. Oana-Silvia Țoiu signals a shared strategic vision to elevate India–Romania ties into a future-ready, comprehensive economic partnership. It highlights the countries' joint ambition to:

• Expand trade volumes and reduce barriers

• Enhance bilateral and EU-level cooperation

• Promote investment in key sectors

• Strengthen innovation and technology linkages

• Support sustainable, secure, and diversified supply chains

As India continues to expand its trade engagement with Europe, Romania is emerging as a key partner in Eastern Europe, offering a bridge between India and EU markets through geopolitical alignment and economic synergy.