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More than 1.3 billion USD total Indian investments in Romania

According to data sent to ACTMedia by Mr. Ravi Chandar, First Secretary, Commercial Representative & Consular Officer în the Embassy of India to Bucharest, major companies like Wipro (IT services IN Bucharest and Timisoara and hydraulic cylinders manufacturing unit in Ramnicu Valcea with over 1250 employees), Genpact (around 4000 employees with offices in Bucharest and Cluj-Napoca), SunPharma (formerly Ranbaxy under name of Terapia SA in Cluj-Napoca with 850 employees), Dr. Reddy’s Labs (trading office in Bucharest with 90 employees), Harsha Engineers manufacturing bearing cages in Brasov and employs 200 workers, UCO Raymonds (textile Plant located in Giurgiu County in collaboration with Belgian company UCO with 170 employees,), Sunwave Pharma (with 320 employees), Singapore-based Thakral Group with 70 employees dealing in IT infrastructure, consumer goods and Human Resource Development, FERCO Group (timber and wood products) have their presence in Romania. Other Indian investments are by Prodigy Technologies (IT software company), Prime Healthcare (trading in drugs and medical devices).

Indian-owned capital from Nigeria renovated a metallurgy plant, Transdanube Industries in Oltenita (in agri-sector).  Evaluserve also has offices in Bucharest and Cluj-Napoca. Other Indian Businessmen own a number of medium-sized establishments in electronics, textiles, trading, restaurants, real estate and construction, handicrafts, and yoga and wellness centers in Romania.

Arcelor-Mittal has considerable investments from Europe into Romania. In 2001, the Sidex Steel Plant in Galati was acquired by Shri Laxmi Mittal’s Ispat-LNM Holdings (now Arcelor-Mittal SA). In 2003, Mittal Steel also acquired the “Tepro” company in Iasi, “Siderurgica” steel mill at Hunedoara and the “Petrotub” pipe-making unit at Roman.

 

There are a number of other Indian companies who are interested in investing and trading with Romania and include Franco India Pharmaceuticals Pvt Ltd, MSN Laboratories Pvt Ltd (in Pharmaceutical sector); ASHIDA Electronics Pvt Ltd (in Industrial Power Supply equipment); MRIDA Group (in agriculture and Processed Foods sector); SYNERGY Group (in Minerals and Metallurgy) and ELCOM Group (in defence communication equipment) etc, and are in various stages of negotiations with the Romanian counterparts and officials.



There are a large number of Indian nationals working in Romania in IT, Financial sector, Telecom, Real Estate and in private businesses.

 

Present at the launche of India-Romania Business Forum, organized at the India House în Bucharest, Ana Birchall, Minister delegate for European Affairs and President of India-Romania Parliamentary Friendship Group, said that ”India will always be a priority for Romania’s cooperation with countries in Asia, from the bilateral perspective - as reflected by the Extended Partnership established in March 2013 and the Program of the Government of Romania - but also within the framework of the EU-India Strategic Partnership, as well as by the excellent level of our overall political relations”.

În her opinion, Romania could become an exceptional hub for India to access Europe, both as an entry-gate, using the Port of Constanta and the Danube River, as well as location for Indian investments targeting the European market.

The recent session of the Joint Economic Commission held in New Delhi highlighted a good number of projects and opportunities, to mention only the oil and gas sector, mining industry, railways, aeronautics, tourism, agriculture, renewable energy and film industry.

India is one of the most important Asian investors in Romania, with more than 1.3 billion USD total investments in fields like metallurgy, IT, pharmaceutical industry, chemical industry, renewable energy and textile industry. Indian investors are also welcome in infrastructure, aircraft building, health and agriculture.

In addition, the bilateral trade - roughly half billion US dollars annually at present, but with a huge potential acknowledged by Indian specialists - will be stimulated by the conclusion of the EU-India Free Trade Agreement, which will happen very soon, added Mrs Birchall.

 

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