The Hague: Noting that production in India is now ending up being really cost-efficient and his federal government is using rewards in numerous sectors to take it to the next level, Prime Minister Narendra Modi on Saturday advised business in the Netherlands to develop and innovate in India, stating “there could be no better time than today”
In his remarks at the CEO Round Table on Economic Ties, PM Modi stated over 300 Dutch business belong to the India story today.
“Recently, we have implemented next-generation reforms in areas such as taxation, labour codes, and governance. Manufacturing in India is now becoming very cost-effective. Electronics, once a major import item, has now become India’s largest export item. To take this manufacturing initiative to the next level, we are also offering incentives in several key sectors. You can take advantage of these incentives to manufacture in India for the entire world,” he stated.
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“Similarly, in the services sector, India has become an engine of efficiency and innovation thanks to its talent. Many technology companies in the world have opened their Global Capability Centers in India. We invite all of you to design and innovate in India, and there could be no better time than today,” he included.
He stated the Dutch business are not just widely known brand names in India, however likewise brand name ambassadors of India-Netherlands relationship.
“More than 300 Dutch companies are part of the India story today. It’s because of your vision and the confidence on India that the Netherlands has become India’s largest investor and second-largest trading partner from Europe. Your companies are not only well-known brands in India, but also brand ambassadors of India-Netherlands friendship,” he stated.
PM Modi likewise remembered that the outcomes of Lok Sabha elections in 2014 which caused his election as Prime Minister came out on May 16.
“Today marks my 12th anniversary as Prime Minister of the world’s largest democracy. In these 12 years, through continuous reform, we have transformed our economic DNA,” he stated.
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PM Modi stated this year, the historical India-EU FTA was signed, and this contract in between the world’s 2 biggest democratic and accountable powers will end up being a strong structure for shared success.
“To unlock the full potential of this FTA, Dutch PM and I will take several important decisions today. We are elevating the India-Netherlands Trusted Partnership to a Strategic Partnership. We are launching an ambitious joint roadmap in green hydrogen. We are making our technology relationship future-ready. We are also further enhancing talent mobility, university partnerships, and joint R&D between our two countries. This means the future of the India-Netherlands partnership is better than ever before,” he stated.
PM Modi stated the enhancing tactical collaboration in between India and the Netherlands “is giving new impetus to our business relationship”
“It is now in your hands to move rapidly in this direction… There is a saying in the Netherlands, ‘Ships are safe in the harbour, but ships are not built to stay in the harbour.’ Who understands this better than the Dutch business community?… I assure you that your exploration in India will be successful and fruitful. Now you have to venture boldly into India,” he stated.
Previously, PM Modi paid a call on King Willem-Alexander and Queen Maxima of the Netherlands at Palace Huis 10 Bosch in The Hague.
According to a PMO release, the leaders exchanged views on reinforcing the India-Netherlands relationship, consisting of through deepening of people-to-people ties. The Dutch King and Queen hosted supper in hounor of Prime Minister.
Prime Minister likewise remembered with gratitude the State Visit of King Willem-Alexander and Queen Maxima to India in 2019, “which had played an important role in fostering mutual goodwill and imparting fresh momentum to the bilateral relationship”
The leaders revealed complete satisfaction on the continuous bilateral efforts in the fields of education, development, semi-conductor, digital, water and green collaborations.
The Prime Minister communicated gratitude for Netherlands King and Queen towards India and revealed appreciation for the warm hospitality encompassed him throughout his see.
In a post on X, PM Modi stated India and the Netherlands are linked by shared interests and a shared belief in developing a future-ready world.
“Met His Majesty King Willem-Alexander and Her Majesty Queen Maxima at the Royal Palace. It was wonderful exchanging perspectives on boosting India-Netherlands friendship across key sectors like technology, innovation, sustainable growth, commerce and water resources. India and the Netherlands are connected by shared interests and a shared belief in building a future-ready planet,” he stated.
This is PM Modi’s 2nd see to the Netherlands after his previous go to in 2017.
The bilateral engagement covers varied sectors, consisting of defence, security, development, green hydrogen, semiconductors and a Strategic Partnership on Water.Prime Minister’s check out early in the period of the brand-new Government has actually offered a chance to more deepen and broaden the complex partnership.The
Netherlands is among India’s biggest trade locations in Europe, with bilateral trade worth USD 27.8 billion (2024-25); and India’s 4th biggest financier with cumulative FDI of USD 55.6 billion.
People-to-people ties stay a crucial element of the India-Netherlands bilateral relationship.
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