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Dutch cos to sign 3.6 bn euros worth investment proposals at Gujarat summit
Dutch firms will sign agreements proposing an investment of 3.6 billion euros in the country at the Vibrant Gujarat Global Summit starting this week, an official said.
The summit will be held from January 10-12 in Gandhinagar.
This is the fourth time the Netherlands is joining the summit as a partner country, according to Amlan Bora, Chief Representative for India at the Netherlands Business Support Office (NBSO).
“This time, 45 companies are joining the Dutch delegation and our total delegation size will be 158 people. Several MoUs will be signed by Dutch companies with multiple ministries and private sectors.
“Through this summit platform, we are proposing an investment of 3.6 billion euros in multiple sectors across the country, including in Gujarat,” Bora told reporters here.
Ambassador of the Netherlands to India Marisa Gerards will head the trade delegation comprising 45 Dutch companies that represent a variety of industries, including agriculture and food processing, maritime and logistics, renewable energy, waste management, IT, semiconductors, and services, Bora said.
Members of the delegation will meet Gujarat Chief Minister Bhupendra Patel to share their plans for the state, he added.
The Netherlands is the fifth largest foreign investor in India during 2022-2023 with FDl equity inflows of USD 2.49 billion (Rs 19,855 crore).
The key areas of cooperation between the countries are agriculture, health, maritime, science and technology, climate & energy, and innovation, NBSO said in a release.
He said Dutch firm DSM-Firmenich, which already has manufacturing facilities in different parts of the country and have so far invested about 700 million euros in the country, is now expanding their facility in Dahej, Bharuch.
“They are also looking at setting up a new facility, and the first state they are looking at is Gujarat. The size of investment could be anywhere from 50-80 million euros,” Bora said.
“In the Dutch pavilion at the summit, we will feature 11 companies out of the 300-odd Dutch companies which are present in India. These 11 companies have contributed 2.1 billion euros, which is about Rs 19,000 crore,” he said.
By 2030, these 11 companies, which employ 12,000 local people in various states including Gujarat, are planning to invest 4.5 billion euros, which comes to nearly Rs 40,000 crore, he said.
“One of the companies who will be joining the delegation is planning to invest 250 million euros to set up flight simulators in India. That is relevant because the Indian aviation sector is growing and there is huge demand to train pilots to meet the demand of the aviation industry.
“The deal is done and they are in discussion with the Karnataka government to set up the simulator facility,” he said.
Trade relations between the Netherlands and India have significantly improved over the last decade, Gerards said in a statement.
“In India, at least 300 Dutch businesses have their presence, and some 250 Indian companies have their offices in the Netherlands.
“The trade delegation present today at the summit are excited to connect with their Indian counterparts, explore possible alliances, and work together to advance the economies of both countries,” Marisa Gerards was quoted as saying in the release by NBSO.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jan 08 2024 | 11:26 PM IST