Indian Economy News

Department for Promotion of Industry and Internal Trade (DPIIT), Invest India and the Embassy of the Netherlands formalise the India-Netherlands Fast-Track Mechanism (FTM)

The Joint Statement to formally establish the bilateral Fast-Track Mechanism (FTM) between India and the Netherlands was signed by the Department for Promotion of Industry and Internal Trade (DPIIT) and the Embassy of The Kingdom of The Netherlands on September 27, 2022.

The bilateral FTM is being executed by Invest India, the nation's investment promotion and facilitation agency. The objective of the bilateral FTM between India and the Netherlands is to provide a mechanism for the quicker resolution of investment matters involving Dutch companies doing business in India.

The DPIIT, the relevant ministries and agencies, Invest India, and the Dutch Embassy work closely together to make the process work. The mechanism would facilitate and grow business cooperation between enterprises in both nations as well as strengthen and support bilateral initiatives to increase mutual investment activities.

“The India-Netherlands economic link has been a cornerstone in our bilateral relations. On this important occasion, it is crucial to highlight our strong political, economic and commercial relations, along with several sectoral cooperations”, said Mr. Rajendra Ratnoo, Joint Secretary, DPIIT.

The Netherlands ranks as the fourth-largest foreign direct investor in India, as per government statistics. Between April 2000-June 2022, the cumulative flow of foreign direct investment from the Netherlands to India reached US$ 42.3 billion.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.