The mechanism functions in close collaboration between DPIIT, respective ministries and departments, Invest India and the Embassy of the Netherlands
Department for Promotion of Industry and Internal Trade (DPIIT), Invest India and the Embassy of the Netherlands have formalised the India-Netherlands Fast-track Mechanism (FTM).
The Ministry of Commerce and Industry in a statement said that FTM will strengthen bilateral efforts to increase mutual investment activities and support and develop business cooperation between companies in both countries.
“It is worthy of noting the strong economic relationship between India and the Netherlands. Some Dutch companies have been operating for over 100 years in India, which illustrates this close bilateral relationship,” said Marten van den Berg, Ambassador of the Netherlands to India.
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, said Berg.
Anurag Jain, Secretary, DPIIT said, “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.”
According to official Indian statistics, the Netherlands is the fourth largest foreign direct investor in India. Between April 2000 and June 2022, the cumulative flow of foreign direct investment from The Netherlands to India reached some USD 42.3 billion.
In 2021-2022, bilateral trade between the two countries amounted to USD 17 billion. India’s exports to the Netherlands consists mainly of mineral fuels and mineral-based products, organic chemicals, electrical machinery and equipment, aluminium, iron and steel and pharmaceutical products.