Romania woos India Inc

Romania on Tuesday invited investments from India in steel, pharmaceuticals and agriculture sector, even as it offered to share its expertise in the energy sector.

"We hope to cooperate with India in three ways. We wish to attract more investment from India,especially in greenfield projects in all sectors. We are looking at sectors, where we can lend our expertise... and like to form joint ventures with Indian firms to work in third countries," Romanian Commerce Minister Luliu Winkler told reporters at a rountable organised by Federation of Indian Chambers of Commerce and Industry.

Winkler, who is heading a business delegation including representatives from the power industry, identified

energy, oil and gas sector, mining, defence and food processing industry as the areas were Romania could contribute substantially to Indian efforts. 

Foreign investments of over euro1 billion would get incentives like tax exemptions.

Besides, companies planning to invest in textile parks in Romania might get incentives from the local government. Bilateral trade between India and Romania stood at $270 million in 2004, including India's exports worth $135.7 million.

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