References of a strong trade alliance between India and Netherlands can be traced back to the 17th century. Even today, the two nations boast of a robust relationship. In an interaction with The Dollar Business, H.E. Alphonsus Stoelinga, Ambassador of Netherlands to India, talks about the ways to further consolidate the strong bilateral relations and maximise opportunities for investors from both countries.
TDB: Indian Prime Minister Narendra Modi called Netherlands ‘India’s natural partner’ in economic development. Your Comments.
H.E. Alphonsus Stoelinga (AS): Today, warmth, friendship and commonality of views on a wide range of issues are characteristics of India-Netherlands relationship. Historically, trade between India and Netherlands dates back to the early 17th century, as far as 1610 AD. Textiles, precious stones, saltpetre, indigo, opium, silk, and pepper were some of the products shipped by the Dutch to and from India during that period.
The Netherlands today continues to be one of India’s largest trading partners in the European Union. It also remains amongst India’s top ten partners when it comes to trade volumes with a positive balance of trade in favour of India. Netherlands is also the third largest investor in terms of foreign direct investment (FDI) inflow into India. On the other hand, India is for us the fifth largest source of FDI.
Recent times have witnessed the relations between India and the Netherlands largely being shaped by engagement in trade and investment. About 40% of our economy is dependent on international trade, so we have no way out but to look for international business. India, on the other hand, is less dependent on international business.
There have been some major acquisitions and mergers by Indian companies including that of Corus by Tata Steel and Vredestein by Apollo Tyres and many Indian companies are exploring the possibilities for further tie-ups.
TDB: What are your thoughts on India’s youth and workforce? Will India’s demographic dividend pay-off in the long-run? How do you see India’s growing startup culture?
This story is from the December 2017 edition of The Dollar Business.
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This story is from the December 2017 edition of The Dollar Business.
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'We Are One Of India's Biggest Trade Partners'
References of a strong trade alliance between India and Netherlands can be traced back to the 17th century. Even today, the two nations boast of a robust relationship. In an interaction with The Dollar Business, H.E. Alphonsus Stoelinga, Ambassador of Netherlands to India, talks about the ways to further consolidate the strong bilateral relations and maximise opportunities for investors from both countries.
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