Netherlands eyes India, EMs post-Brexit

Dutch Minister for foreign trade and development cooperation Sigrid Kaag is wooing large Indian companies and start-ups to form partnerships with Dutch firms and explore markets in both countries.

She said in an ‘era of post Brexit’, Netherlands wants to further consolidate its presence in emerging markets for trade. “FDI [Foreign direct investment]... is excellent,” said Ms.Kaag, in response to The Hindu’s queries. “But we can always do better. India is the third-largest economy [in Asia] at present, we foresee future growth in a lot of areas,” she added.

“The [Indian] Prime Minister has distinctly declared a number of programmes that are his priority and we feel that our expertise, government and non-government, private sectors have a lot to contribute to the achievement of the national agenda of India,” said Ms. Kaag, who was in Bengaluru as part of a trade mission to the country. She said the trade mission was looking to collaborate in areas such as agriculture, healthcare, logistics, water management, information technology and financial services. “A number of start-ups and entrepreneurs have come as well. They are very engaged around the theme of social impact. So, it is technology for [the] good,” she said.

‘Fortifying ties’

Dutch Prime Minister Mark Rutte was in India this week with the Netherlands trade mission to ‘fortify’ economic ties. Ms. Kaag said there was a strong bond and partnership at the political and economic level between the two countries, demonstrated by the largest-ever trade mission to India, comprising 130 companies and 240 participants, she said. She added the latest mission was not only a sign of Netherlands’ commitment and the political leadership behind it but also the ‘eagerness and strong interest by large Dutch companies and start-ups to deepen the relationship’ with India. “So, I would say [relations] are excellent, but also when relations are excellent, we will do even more to make sure we maintain, sustain and nurture the depth of relations,” she said.

53 MoUs

Overall, the Indo-Dutch delegation signed 53 memoranda of understanding in the country out of which 15 were signed in Bengaluru on Friday. “I think in six months from now, we should be able to see the first fruits of this mission,” said Ms. Kaag.

The Netherlands is the fifth-largest investor in India with a cumulative investment of $23 billion from 2000 to December 2017. The two countries have bilateral trade of $5.39 billion.