India and Romania Forge Path for Skilled Worker Migration and Economic Cooperation
India and Romania held their 19th Joint Committee for Economic Cooperation meeting in Bucharest, focusing on enhancing bilateral trade and addressing Romania's labor market needs. Key outcomes include plans for approximately 30,000 skilled Indian professionals to enter Romania annually, addressing Romania's requirement of about 100,000 workers from outside the EU each year. India's exports to Romania exceeded $1.03 billion in FY 2024-25, with overall bilateral trade reaching approximately $2.98 billion in FY 2023-24. Both countries aim to deepen supply-chain linkages in petroleum products, engineering goods, pharmaceuticals, and ceramics sectors. They also agreed to work towards concluding an India-EU Free Trade Agreement within the year.
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India and Romania have taken significant steps to bolster their economic ties and address Romania's labor market needs during the 19th Joint Committee for Economic Cooperation meeting held in Bucharest. The discussions, led by India's Minister of State for Commerce & Industry Jitin Prasada, focused on creating opportunities for skilled Indian professionals and enhancing bilateral trade.
Key Highlights of the India-Romania Economic Cooperation
Skilled Worker Migration Plan
- Discussions centered on creating a pathway for approximately 30,000 skilled Indian professionals to enter Romania annually.
- This initiative aims to address Romania's labor shortage, as the country requires about 100,000 workers from outside the EU each year.
Bilateral Trade and Exports
- India's exports to Romania exceeded $1.03 billion in FY 2024-25.
- Overall bilateral trade reached approximately $2.98 billion in FY 2023-24.
Collaboration Areas
- Skills-based mobility
- Mutual recognition of qualifications
- Potential Social Security Agreement
Sector-Specific Cooperation Both countries plan to deepen supply-chain linkages in:
- Petroleum products
- Engineering goods
- Pharmaceuticals
- Ceramics sectors
Free Trade Agreement
- Both sides agreed to work towards concluding an India-EU Free Trade Agreement within this year.
Economic Cooperation Details
| Aspect | Details |
|---|---|
| Skilled Worker Migration | ~30,000 Indian professionals annually |
| Romania's Labor Requirement | 100,000 workers from outside EU yearly |
| India's Exports to Romania (FY 2024-25) | Exceeded $1.03 billion |
| Bilateral Trade (FY 2023-24) | ~$2.98 billion |
| Key Sectors for Cooperation | Petroleum, Engineering, Pharmaceuticals, Ceramics |
This meeting marks a significant step in strengthening economic ties between India and Romania. The proposed skilled worker migration plan could potentially address Romania's labor market needs while providing opportunities for Indian professionals. Additionally, the focus on deepening supply-chain linkages in key sectors and the commitment to work towards an India-EU Free Trade Agreement underscore the growing economic partnership between the two nations.
As both countries continue to explore avenues for collaboration, including skills-based mobility and mutual recognition of qualifications, this partnership is poised to yield mutual benefits in terms of economic growth and cultural exchange. The success of these initiatives will depend on effective implementation and continued dialogue between India and Romania in the coming years.
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