Prime Minister Narendra Modi today invited Dutch companies to invest in the country which he said is the “land of opportunities”, describing the Netherlands as India’s “natural partner” in its economic development. Focusing on trade, technology and investment, Mr Modi interacted with CEOs of major Dutch companies after holding bilateral talks with his Dutch counterpart Mark Rutte.
Mark Rutte is a Dutch politician who has been the Prime Minister of the Netherlands since 14 October 2010, and the Leader of the People’s Party for Freedom and Democracy since 31 May 2006.
The two countries signed three MoUs in the fields of social security, water cooperation and cultural cooperation.
During his interaction with top Dutch CEOs, Mr Modi said the reforms introduced by his government seek to enhance ease of doing business and bring standards at par with global standards.
The prime minister, who is here on the final leg of his three-nation tour, said India has made 7,000 reforms for attracting Foreign Direct Investment (FDI) in various sectors including real estate and defence.
Prime Minister Narendra Modi said, India is a ‘land of opportunities’ with over 7 per cent growth rate and 1.25 billion population of which 800 million people are below 35 years.
Water is a prime sector for cooperation between the two countries, Modi said, referring to a joint water technology initiative, Dutch Indian Water Alliance for Leadership Initiative (DIWALI). Irrigation and water conservation are the areas where the two countries can boost cooperation, Modi added. Seeking investments, Narendra Modi said pension funds are especially welcome to India.
Memorandum of Understanding to take forward the Indo-Dutch initiative DIWALI (Dutch Indian Water Alliance for Leadership Initiative) was executed between Oxive Environmental Management Pvt. Ltd., Vadodara, India; Wazutec Watertreatment BV, Netherlands; and Fermtech systems BV, Netherlands, with an intention to collectively develop and engineer wastewater and waste recycling systems for the Indian market and abroad.
During the bilateral talks, Mr Modi and the Dutch PM reaffirmed their commitment to climate change accord and strengthen cooperation in developing renewable energy. Mr Modi thanked the key European nation for backing India’s Missile Technology Control Regime (MTCR) membership. ‘Your support helped India in getting the membership of the MTCR,’ Mr Modi said.
India joined the MTCR as a full member last year. MTCR membership enables India to buy high-end missile technology and also enhances its joint ventures with Russia. The Missile Technology Control Regime (MTCR) is a multilateral export control regime.
It is an informal and voluntary partnership among 35 countries to prevent the proliferation of missile and unmanned aerial vehicle technology capable of carrying above 500 kg payload for more than 300 km.
“Ties between India and the Netherlands are very old. Our bilateral relations are very strong,” Prime Minister Narendra Modi said.
In the joint address, Rutte said India’s emergence as a global power is a “welcome development from both political and economic point of views.” He commended India for its commitment to renewal energy and to the Paris climate agreement and praised Modi for announcing major sustainable initiatives like ‘Clean India’ and ‘Make in India’.
India is now a global economic power. It is world’s second biggest economy and Indian market has a lot of potential. We have a plenty to offer to India too, said Mark Rutte Prime Minister, Netherlands.
Europe is India’s biggest trading partner and 20 percent of India’s export to Europe enters through the Netherlands. “So, for India, we are an entry point to Europe,” Mark Rutte said.
The Dutch premier said the ties is only expected to grow in coming years. “Today we are giving fresh impetus to ties by easing the flow of capital in both directions. I believe this is one of the many ways to boost ties in the next 70 years and beyond”. This year, the two countries are celebrating 70 years of the establishment of Indo-Dutch diplomatic relations.