NEW DELHI, Oct. 27 -- India's Ambassador to the Netherlands, Kumar Tuhin, has said the India-European Union Free Trade Agreement (FTA) will significantly benefit the Netherlands by expanding trade and investment flows, highlighting the country's position as a key European economic and logistics hub.
Speaking to media reporters, Tuhin said Union Commerce and Industry Minister Piyush Goyal's visit to the Netherlands had helped advance economic cooperation following the elevation of India-Netherlands relations to a strategic partnership during Prime Minister Narendra Modi's visit a few months ago. The ambassador said the visit focused on strengthening economic, commercial and business relations while highlighting India's growth trajectory and the complementary strengths of the two economies.
Tuhin described Goyal's visit as successful, particularly because it followed the upgrading of bilateral relations to a strategic partnership. He said the engagements provided an opportunity to communicate India's economic outlook and growth potential to Dutch leaders and business representatives. The visit also sought to identify opportunities for strengthening the economic and trade components of the strategic partnership. According to the ambassador, high-level interactions with Dutch stakeholders would help both countries explore new avenues for commercial cooperation and investment.
Highlighting the existing economic relationship, Tuhin said the Netherlands was India's second-largest trading partner within the European Union and an important investment destination. He noted that the Netherlands' strategic advantages, including Rotterdam's position as a major European port and Eindhoven's prominence as a technology and innovation hub, made it well-positioned to benefit from greater India-EU economic engagement. Amsterdam and other major Dutch economic centres also offered opportunities for expanding business and investment cooperation. The ambassador said the Netherlands would be a major beneficiary as the India-EU trade agreement comes into effect and the overall volume of trade and investment between India and the European Union increases. He added that the potential benefits of the agreement had also been highlighted during Goyal's interactions with Dutch leaders.
The India-EU Free Trade Agreement is expected to create opportunities for expanding market access, attracting investment and strengthening technological cooperation between India and European economies. The Netherlands, with its established logistics infrastructure and connectivity to European markets, is expected to play an important role in facilitating increased trade flows. Rotterdam, Europe's largest port, serves as a major gateway for Indian goods entering European markets and is a significant hub for international trade and supply chains. Goyal's visit included engagements with maritime and logistics stakeholders in Rotterdam, interactions with the Indian community in Amsterdam and discussions aimed at strengthening bilateral economic cooperation.
India and the Netherlands have been working to build on their strategic partnership through closer business engagement and stronger economic ties. The two countries are exploring opportunities in maritime logistics, technology, innovation and other sectors where their economic capabilities complement each other. The ambassador indicated that the expanding India-EU economic relationship would provide further momentum to bilateral trade and investment, with the Netherlands positioned to benefit from its established industrial and logistics capabilities.
Published by HT Digital Content Services with permission from Millennium Post.