India-Romania bilateral trade could touch US$1 billion in FY19
- PTI
- December 11, 2018
Kolkata: Bilateral trade between India and Romania could touch USD 1 billion in the fiscal 2018-19, a top diplomat of that country said on Monday.
The total bilateral trade currently stands at USD 810 million.
"Trade in the first 10 months has grown in the high double digits. I think in the current fiscal, it will grow to touch USD 1 billion," Ambassador of Romania to India, Radu Octavian Dobre said at an interactive session with the Indian Chamber of Commerce.
He said the European country was looking to boost ties with India on all fronts, including trade and culture.
In November, Romanian Foreign Minister Teodor Melescanu was in India on a four-day visit to bolster relationship between the two countries.
Dobre sought investment in agriculture, tourism and other sectors, and said Romania offers a conducive environment and low taxation without any capital repatriation restrictions.
"There is a lot of scope in the hospitality sector for Indian investors... hotels are running at 95 per cent occupancy," he added.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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