The Netherlands Is the third largest Foreign Direct Investor in Hyderabad9 months ago Saritha Keshamoni
Dutch-India dialogue on Trade & Technology held in the city
The tiny EU nation is the second largest investment destination for Indian investors
The Netherlands has emerged as the 3rd largest Foreign Direct investor in India for the years2017-2018 with investments valued at US$ 2.67 billion across variety of sectors such as services, trading, automobile industry, fermentation industries, chemicals and water management. The Netherlands was also the second largest destination for foreign investment by Indian companies, after Singapore, with investments worth Rs. 835 billion (approximately US$ 12.8 billion) in 2017.
The Indian School of Business, Hyderabad and the Netherlands Business Support Office in Hyderabad jointly organized the “Dutch-India Dialogue on Trade & Technology” in the city on Wednesday, in connection with the National Day celebrations of the Netherlands. The objective of the dialogue was to strengthen business partnership between India and the Netherlands in the times of fast technological changes. The session highlighted how bilateral discussion could help make technological revolution more inclusive in both the countries.
India and the Netherlands have strong bilateral ties with robust economic and commercial collaborations. As many as 30 bilateral agreements and MoUs have been concluded between the countries, in diverse areas covering economic and commercial cooperation, culture, science and technology and education. India and the Netherlands have a bilateral trade of US$ 8.77 billion (April 2017-March 2018). Indian Exports to the Netherlands grew at 14.7%, while Indian Imports grew at 18.2%. The Netherlands is currently India’s 4th largest trading partner in the EU, after the UK, Germany and Belgium.
The panelists for the dialogue were Mr. Jayesh Ranjan, IAS, Principal Secretary, Department of Industries and Information Technology, Government of Telangana, Ms. Stans Kleijnen, Executive Director, the Netherlands Foreign Investment Agency (NFIA) India, and Mr. V. Rajanna, Regional Head, AP & Telangana, Tata Consultancy Services (TCS). Mr. DNV Kumara Guru, Director External Relations, Indian School of Business Professor provided the opening remarks, while Prof. Anand Nandkumar, Academic Director, Centre for Innovation and Entrepreneurship, Indian School of Business (ISB) moderated the session.
H.E.Marten van den Berg, the Netherlands Ambassador to India in his keynote addresssaid: “India and the Netherlands have shared warm diplomatic relations for many years, and I’m happy to say these ties are growing stronger each day. In a world where the need for International Cooperation is more important than ever, India is a key strategic partner for the Netherlands—both economically and geopolitically. Our nations have the drive and expertise to tackle common societal challenges together, while creating opportunities in areas such as Agriculture, Water, Smart cities, High-tech, Startups, Healthcare among others. I feel our partnership can greatly contribute towards achieving the Sustainable Development Goals (SDGs) by 2030!”
Mr. Jayesh Ranjan, IAS, Principal Secretary, Industries and Information Technology, Government of Telangana, in his address said, “In today’s globalized world, many issues can best get resolved only through international cooperation. As a State, Telangana has done well to receive the attention of international investors, besides fostering a number of international partnerships in priority areas. The interests of Telangana and the global focus of the Netherlands seem to be well aligned. I am confident that a number of potentially strong and fruitful action plans for partnership and collaboration can be worked out through discussions and dialogue”.
Prof. Anand Nandkumar, Academic Director, Centre for Innovation and Entrepreneurship, Indian School of Business who moderated the session said: “Trade and Technology are mutually reinforcing ideas. The advent of new technology creates more opportunities for international trade and international trade facilitates access to global technologies that accelerate local technology development. However, technological change in any country is also creatively destructive – new ideas, create impact by vanquishing older ones which can create tensions domestically. Critical to resolving this tension is to understand short and long-term priorities and each other’s domestic sentiments. The bilateral dialogues of this nature will help overcome hurdles in trade and accelerate trade as well as technology and economic development.”
Mr. V Rajanna, Senior Vice President & Global Head, Technology Business Unit, Tata Consultancy Services (TCS) & Past Chairman – CII Telangana, in his signature statement mentioned that “As India is blessed with a huge demographic dividend for a few decades from now, it is critically important to focus on the kind of career options available for them in the future which is getting redefined due to Digital Disruption. In this context, I think, it is important for the working age population to explore global opportunities and the bilateral dialogues on trade and technology like this one will certainly help and take a step ahead towards this important objective.
In his concluding remarks, Mr. Ajay Odathekal, Trade Commissioner for the Netherlands in Hyderabad observed that India and the Netherlandsshare a common DNA and have infinite opportunities to collaborate for growth. He reiterated the commitment of the Netherlands to partner with India in achieving common ideals and goals.