ENA Knowledge Resource 2022-09-28 08:43:13 <p><span style="font-size:14px"><strong>New Delhi, Sept 28 (KNN)</strong> The Department for Promotion of Industry and Internal Trade (DPIIT) and the Embassy of Netherlands have jointly formalized the bilateral Fast-Track Mechanism (FTM) between the two countries.</span></p> <p><span style="font-size:14px">The primary aim of the FTM is to serve as a platform for faster resolution of investment cases of Dutch companies operating in India. It will help strengthen the business cooperation and increase mutual investment activities in both countries.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The agreement was signed by the Ambassador of the Netherlands to India, Marten van den Berg, and Secretary, DPIIT, Anurag Jain on September 27th, 2022.</span></p> <p><span style="font-size:14px">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, highlighted Berg.</span></p> <p><span style="font-size:14px">Speaking about the agreement signed, Jain said I would like to highlight the opportune period during which we are signing this FTM Amrit Kal, the celebration of 75 years of independence as well as our bilateral diplomatic relationship. India is one of the few countries which has a very open FDI policy, and we have worked to resolve several issues of Dutch companies even before the FTM process began.</span></p> <p><span style="font-size:14px">Diplomatic relations between India and Netherlands were formally established in 1947. Since then, the two countries have developed strong political, economic &amp; commercial relations, and various sectoral co-operations. </span></p> <p><span style="font-size:14px">According to the official Indian statistics, Netherlands is the 4th largest foreign direct investor in India. In 2021-2022, bilateral trade between the two countries amounted to USD 17 billion.</span></p> <p><span style="font-size:14px">India's exports to Netherlands consists mainly of mineral fuels and mineral-based products, organic chemicals, electrical machinery and equipment, aluminium, iron and steel and pharmaceutical products. <em><strong>(KNN Bureau)</strong></em></span></p> 30685 https://knnindia.co.in/news/newsdetails/knowledge-resource/dpiit-netherland-embassy-formalise-bilateral-fast-track-mechanism 2022-09-28 08:43:13 knnindia.co.in