The Netherland – India Trade and Partnership conference is an initiative of Cedar Event Ltd, solely to promote trade and partnership relationship between India and The Netherlands.
With more than 400 years of trade between both countries, and still going strong, both India and Netherland have benefitted from the mutual trade relationship among each other. According to recent report (http://www.newkerala.com/topstory-fullnews-90755.html ), New Delhi, Feb 10: Union Minister of Commerce and Industry of India have stated that the bilateral trade between India and Netherlands has increased from US 3.9 billion dollars in 2006-07 to US 7.2 billion dollars in 2007-08, with continuous annual increase in bilateral trade with more than 10%. This trade will only see constant growth as the world population and consumption continue to increase, and the world economy turning to Asia. The expected growth by 2013 is US 12 billion dollars. This conference is poised towards re-enforcing this trade relationship.
Since 1947, Indo-Dutch relations have been excellent, marked by strong economic and commercial ties, based on foundation of shared democratic ideals, pluralism, multiculturalism and rule of law. Indo-Dutch relations have been multi-faceted and encompass close cooperation in various areas including political, economy, academics and culture. Since the early 1980s, the Dutch Government has identified India as an important economic partner. The relations underwent further intensification after India’s economic liberalisation in the 1990s with growing recognition of India as an attractive trade and investment partner.
In light of convergence of economic and political interests, the two countries see value in enhanced dialogue and have constantly striven to strengthen bilateral relations by leveraging each other’s strengths and are currently collaborating in strengthening and expanding the framework of cooperation in various areas like trade and investment, science and technology, information and communication technology, education and culture.
Trade and investment cooperation – a key component of Netherlands – India relationship – has shown satisfactory growth over the years. Two-way trade has continued to grow steadily, reaching Euro 5.287 billion in 2011. Netherlands remains among the top ten partners of India in terms of trade volume with positive balance of trade in favour of India. It is also one of the largest investor in terms of foreign direct investment into India with FDI inflows during period 2000 to 2011 amounting to US $ 5.62 billion (accounting for 4.3% of total inflows into India). Indian investments into Netherlands during period 1996 to 2010 amounted to $11.46 billion. The current ongoing Eurozone crisis has not seriously impacted trade and investment flows between India and Netherlands. India’s exports to and imports from Netherlands have significantly increased during past 3-4 years and the same is true for trade in services.
Many Dutch multinationals and major companies like Phillips, Shell, Unilever (Hindustan Lever in India), KLM, the three big banks – ABN AMRO, ING, Rabobank and others have a growing and successful presence in India. Dutch SMEs with niche technologies and world-class expertise are also actively looking at the Indian market. Similarly, several Indian companies including major IT companies have established their presence in Netherlands. The process of opening a branch of State Bank of India in Amsterdam is at an advanced stage. There have been major acquisitions and mergers by Indian companies including that of Tata Corus (now Tata Steel), Apollo – Vredestein, acquisition of Theodoor Gilissen Bankiers by Hindujas and many Indian companies are exploring the possibilities for further tie-ups. The proposal for opening a branch of State Bank of India in Amsterdam is also under process.© Indian Embassy Netherlands