Industry & Economy
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Foreign Trade
India, Holland stress on improving bilateral relations
Our Bureau
New Delhi
,
Oct. 25
TRADE and economic relations between India and the Netherlands would get renewed impetus following the week-long visit of the Deputy Prime Minister and Minister for Economic Affairs of the Netherlands, Mr Laurens Jan Brinkhorst, to India at the invitation of the Union Commerce and Industry Minister, Mr Kamal Nath.
Mr Brinkhorst held a bilateral meeting with Mr Kamal Nath here on Tuesday with both sides emphasising the importance to further strengthening of bilateral commercial and economic relations.
Mr Kamal Nath lauded Mr Brinkhorst's interest in promoting trade and economic cooperation between India and the Netherlands and reciprocated by stating that New Delhi was equally keen to keep up the momentum.
India-Netherlands trade amounted to $2.27 billion last fiscal showing a growth of about 25 per cent over 2003-04 with India's exports to Netherlands increasing by about 18 per cent and imports from the Netherlands by about 42 per cent. India's top five items to the Netherlands include readymade garments cotton including accessories, petroleum products, electronic goods and transport equipment and drugs and pharmaceuticals. The top import items from the Netherlands include organic chemicals, machinery, electronic goods, artificial resins/plastic materials and transport equipment.
The Netherlands now ranks fourth in the list of countries in terms of cumulative foreign direct investment inflows into India during the period August 2001 to June 2005 with inflows amounting to $1,930.64 million, an official release issued here said.
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