Romanian envoy calls on companies to invest in 'Silicon Valley of Eastern Europe', collaborate in IT sector

Mumbai: Indian companies can invest in the Silicon Valley of Eastern Europe, Sena Latif, Ambassador of Romania to India said, calling upon the Indian business companies for collaboration in the IT sector.

“Indian companies can collaborate with their counterparts in Romania’s second largest city, Cluj-Napoca, which is called Silicon Valley of Eastern Europe because of its vibrant IT sector,” said Latif at an interactive meeting organised by World Trade Centre Mumbai and All India Association of Industries (AIAI).

Romania can be the gateway for Indian companies to Europe as it has the largest port, Constanța, in the Black Sea, she said.

"It is my goal to strengthen commercial ties and people to people movement between India and Romania as it will pave the way for a stronger diplomatic relationship,” she said, adding that she had chosen Mumbai as the first destination of my country tour after taking charge as Ambassador a month ago.

“Our bilateral trade volume reached record high last year. But still it does not reflect the true potential. There is huge scope for collaboration in agriculture, oil & gas, chemicals, engineering sectors, education, film production and logistics. I invite Indian companies and educational institutions to conduct joint research with our leading Polytechnic University and prominent institutes for agriculture, veterinary science, medical and pharmacy,” Latif said.

Speaking about the strong bilateral ties, the Ambassador pointed out: “Thousands of Indians are working in restaurants, construction, logistics and other sectors in Romania. Our country helped 10,000 Indian students to reach India safely during the Ukraine war. In the area of trade, textile is a prominent sector as Romania imports Indian made textile materials. Shipbuilding can be a potential sector for collaboration as there are many ports in Black Sea and the Danube river which passes through Romania.

Addressing the business queries of the participating delegates, the Ambassador informed that she can facilitate business connections for these delegates in textile, chemicals, alcoholic beverages, automotive and other sectors. In the automobile sector, the Ambassador informed that already many auto-component and vehicle manufacturers are located in Romania, which offers huge scope for partnership between both the countries in this sector. Tourism, food and gastronomy are other sectors with potential for bilateral cooperation.

“Romania produces fresh apples, peaches and other fruits, where there is scope for trade with India for value addition and re-exports. In the beverage industry, Romania is the sixth largest producer of wine in Europe. So, Indian companies producing raw materials and ingredients for wine can export to Romania,” she said.

Earlier in his welcome remarks, Capt. Somesh Batra, Vice Chairman, MVIRDC WTC Mumbai pointed out, “Currently, bilateral trade is USD 2.9 billion, which has potential to grow further in the coming years. India has untapped export potential worth USD 897 million, while Romania has USD 620 million worth untapped export potential to India. Indian companies can invest in agriculture as Romania is blessed with fertile land on the banks of the river Danube.”

“I suggest Indian companies to attend the trade fairs and expos related to automotive, green energy and pet food, which are slated in Romania in March and April of 2025,” added Rupa Naik, Executive Director, WTC Mumbai.