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Commerce and Industry Minister Piyush Goyal on Tuesday held "fruitful discussions" with the Netherlands' Minister for Foreign Trade and Development Cooperation Sjoerd Sjoerdsma, on deepening bilateral trade and economic cooperation.
The deliberations focused on expanding trade and investment flows between the two countries, facilitating the mobility of skilled professionals, and convening the Joint Trade & Investment Committee (JTIC) at the earliest to give a more structured framework to economic engagement. "We reaffirmed our shared commitment to broadening the strategic partnership and advancing cooperation across areas of mutual interest," Goyal said in a post on X. The Netherlands is already one of India's largest trading partners in Europe and a significant source of foreign direct investment. In FY25, bilateral trade between the two countries stood at over USD 20 billion, with Dutch investments flowing into sectors such as agriculture, logistics, electronics, and renewable energy. The Netherlands also serves as a major gateway for Indian exports to the European Union, given its strategic port infrastructure in Rotterdam and its role as a logistics and distribution hub. For India, the partnership offers access to advanced Dutch expertise in water management, sustainable agriculture, and clean technology -- areas aligned with its own development and climate goals. Skilled workforce mobility has emerged as a priority in recent trade dialogues, particularly in technology, engineering and healthcare. Both sides are exploring mechanisms to ease professional movement while ensuring regulatory safeguards. India and the European Union had, in January this year, announced the conclusion of the India-European Union Free Trade Agreement (India-EU FTA). The FTA positions India and the European Union as trusted partners committed to open markets, predictability, and inclusive growth. The FTA came about after intense negotiations since the re-launch of negotiations in 2022. The European Union is one of India's largest trading partners, with bilateral trade in goods and services growing steadily over the years. In 2024-25, India's bilateral trade in goods with the EU stood at Rs 11.5 Lakh crore (USD 136.54 billion) with exports worth Rs 6.4 Lakh crore (USD 75.85 billion) and imports amounting to Rs 5.1 Lakh crore (USD 60.68 billion). India-EU trade in services reached Rs 7.2 lakh crore (USD 83.10 billion) in 2024. (ANI)
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