The Hindu Business Line : India seeks investment from Netherlands

New Delhi, Nov 26 India hailed the focussed approach of the Netherlands for identifying collaborations in bio-technology, agri-business, health, infrastructure and logistics and research and development.

During the visit of Dutch Minister for Foreign Affairs, Mr Frank Heemskerk here, the Union Commerce & Industry Minister Mr Kamal Nath, said: “We are happy that the Dutch delegation consists of both small and medium enterprises and has identified focused areas for further collaboration”.

He said that there is great potential for further intensification of trade and investment relations between India and the Netherlands. He said bilateral trade has increased by 22.3 per cent in 2006 while the total trade between India and the Netherlands in the past five years has almost doubled.

India’s exports

He said exports from India during 2002-06 to the Netherlands rose by 11.16 per cent. On India-European Union Free Trade Agreement, both sides resolved that common areas have been identified and further discussions would be held in the third round, scheduled to be next month.

Mr Nath said that there was large scope for Dutch investments in India in agriculture, infrastructure, automotives, biotechnology, food processing and pharmaceuticals. He said that the Netherlands now ranks fourth in the list of countries in terms of cumulative FDI inflows into India during the August 2001-July 2007 period with total inflows amounting to about $2.8 billion. The Netherlands is also among India’s top ten trading partners.

India’s main exports to the Netherlands include petroleum (crude and products), readymade garments, electric goods, machinery and the main imports from the Netherlands include metaliferrous ores, metal scraps, machinery (except electric and electronic), organic chemicals, transport equipment.

Top sectors attracting FDI inflows from Netherlands include electrical equipment (including computer software and electronics) Chemical (Other than fertilisers), fuels (power and oil refinery), services sector (financial and non-financial) and transportation industry.

Mr Nath said India looked forward to the conclusion of the Doha Round by the end of this year or at the latest by early part of the next year.