The Department for Promotion of Industry and Internal Trade (DPIIT) and The Embassy of The Kingdom of The Netherlands formalised the bilateral Fast-Track Mechanism (FTM) between India and The Netherlands, with Invest India, the national investment promotion and facilitation agency, as the executing body.
The bilateral FTM between India and The Netherlands aims to serve as a platform for faster resolution of investment cases of Dutch companies operating in India. The mechanism, which functions in close collaboration between DPIIT, respective ministries and departments, Invest India and the Embassy of The Netherlands will strengthen and assist bilateral efforts to increase mutual investment activities, as well as support and develop business cooperation between companies in both countries.
Mr Marten van den Berg, Ambassador of The Netherlands to India said, “We are keen to collaborate more with our Indian partners to further stimulate Dutch companies in India, particularly in key areas of economics, science and innovation.”
Diplomatic relations between India and The Netherlands were formally established in 1947. Since then, the two countries have developed strong political, economic & commercial relations, and various sectoral cooperations.
According to Government statistics, The Netherlands is the fourth largest foreign direct investor in India. Between April 2000 and June 2022, the cumulative flow of foreign direct investment from The Netherlands to India reached around USD 42.3 billion.
In 2021-2022, bilateral trade between the two countries amounted to USD 17 billion. India’s exports to The Netherlands consist mainly of mineral fuels and mineral-based products, organic chemicals, electrical machinery and equipment, aluminium, iron and steel and pharmaceutical products.