India Trade Centre (Romania)

Supported by

Ministry of Commerce & Industry, Government of India

and Embassy of India, Romania

Locational Advantage

i. Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine. Coastline - 225 km. Border countries: Bulgaria 608 km, Hungary 443 km, Moldova 450 km, Serbia and Montenegro 476 km, Ukraine (north) 362 km, Ukraine (east) 169 km

ii. Ideal location for shipment of goods – connected through the Danube River, throughout Europe right from Bulgaria upto Antwerp through the Black sea Route [Corridor 7, river corridor (Constanta-Basarabi-Danube –Main-Rhine)].

iii. 6 International airports (Henry Coanda (Otopeni Airport) and Baneasa Airports in Bucharest and the airports in Timisoara, Cluj, Sibiu, Constanta)

iv. Well connected through the land route throughout the Balkan region and the EuropeanCountries. [(Corridor 4: for motor vehicles & railways (Berlin – Prague – Budapest – Arad – Bucharest – Constanta – Istanbul – Salonike)] and [Corridor 9: for motor vehicles & railways (Helsinki – Moscow/Kiev – Odesa – Bucharest – Constante – Alexandropolis)]

OFFSHORE BUSINESS HUB,  Nova Building, Gara Herastrau, Bucharest

Other Advantage

  1. Part of EU since 1st January 2007

  2. A large domestic market, the second largest in Central Europe

  3. Access to over 37 crores consumers in and around Romania.

Infrastructure
  • A wide range of natural resources, including fertile agricultural land, coal, oil and gas and a significant tourist potential
  • A liberal investment legislation, based on free, non-discriminatory access to markets and economic sectors
  • The presence of branch offices and representatives of well-known international banks (Citibank, ABN-AMRO, ING Bank, Chemical Bank, Creditanstallt etc.)
  • A national telecommunication network based on optic fibbers and large capacity digital equipment integrated in the European optic cables thoroughfares and via satellite
  • A highly developed industrial infrastructure, including oil and petrochemicals
  • A skilled, relatively low priced labour force, well trained particularly in technology and engineering

Investment (Indian Origin)

Indians and Indian products highly welcome because of Mittal Steel and other Indian acquisitions. Many other Indian companies like TATA, Essar, Videocon, Ispat, Eureka Forbes have already set up their offices or are in the process of setting up their offices in Romania. As per the information received from our Indian Embassy in Bucharest, Romania, 135 Indian companies are already existing in the Romanian market.

Size : US$ 1.6 billion

Management Structure & Functions

Management Structure
  • India Trade Centre (Romania) - to be registered as a separate legal entity under the Romanian Corporate Law to function as a ‘Service Provider Company’ to promote trade between India & Romania and in the Region.
  • To function on self-financing basis with equity raised from its member-stakeholders and also based on service charges levied from time to time.

Functions

i)    Display Centre to showcase products and catalogues

ii)   Offshore office

iii)  Permanent contact point for trade and Retail

iv)  Platform for multi-products and services

v)   ‘Market Access Hub’ through various market promotion activities, such as

  • Web-site and other electronic promotion
  • Effective coverage in news print/audio-visual media.
  • Direct Marketing through e-mailers, post, personal visits.
  • Liaisoning with the Indian Embassy and Chambers of Commerce in Romania and other country offices & chambers
  • Participation in trade fairs organized by ROMEXPO, National and local Chambers of Commerce of Romania and similar authorities in the region.
  • Buyers Sellers Meet
  • Investment Meet
  • Other promotion activities

vi)   Co-ordinate visits of Romanian Companies to India and vice versa

vii)  Prepare a data base of Buyers/Traders/Investors/Promoters representing EU, Balkan & CIS countries.

viii)  Policy changes and related rules and regulations on international trade in the region.

ix)   Prepare Market Research Reports on international trade in the region periodically

x)   Prepare a Directory on leading trade fairs in Romania and in EU, CIS & Balkan Region.

xi)   Prepare a list of trade magazines, journals, etc in Romania and neighbouring countries in which members can advertise and draw better mileage on promotion of Indian products.

xii)  Other Trade Facilitation activities including organizing events, collaboration and networking, documentation, accounts and other secretarial services.

Federation of Indian Export Organisations

New Delhi

OTHER SERVICES

ITC (Romania) being a legal entity registered under Romanian Corporate Law can engage itself in a number of other trade facilitation activities. Some of them are illustrated as follows:

  • To do business on behalf of its members with full entitlement to claim refund of VAT (19%).
  • Participation in all Romanian and EU business events, Trade Fairs, etc at differential cost.
  • Membership facilities in Romanian Chamber of Commerce and similar other authorities, Trade Associations in the Region.
  • Provide warehousing facilitation services by outsourcing warehousing services which will enable members for
    • Timely delivery of shipments
    • Consign goods to ITC (Romania) without waiting for L/C to be opened

Timeframe of Implementation

The new building will be in operation from January 15, 2008 onwards. However, the launch has been scheduled to take place in collaboration with ROMEXPO, the main Trade Fair Authority, by way of participating in their Souvenir Fair on December 1- 9, 2007. The advantage will lie in getting huge publicity through ROMEXPO Fair and networking opportunity besides the members getting many other advantages as spelt out below.

  • Pre-Christmas retail sale which is very popular.
  • Previewing the site, display arrangements and working out any other details.
  • Business networking opportunity

INDIA’S EXPORT TO ROMANIA & SURROUNDING COUNTRIES
  • Electronic Goods
  • Cotton Yarns
  • Fabrics and Made-ups
  • RMG Cotton and Accessories
  • Manmade Yarns
  • Machinery and Instruments
  • Manufacture of Metals
  • Plastic and Linoleum Products
  • Paints
  • Enamels
  • Varnishes
  • Drugs and Pharma
  • Fine Chemicals
  • Finished Leather.
  • Tobacco un-manufactured
  • Electronic goods.
  • Tea and Coffee
  • Spices, Cashew, Castor Oil
  • Processed Vegetables
  • Processed Fruit Juices
  • Processed Minerals,
  • Inorganic/Organic/Agro Chemicals
  • Cosmetics & Toiletries
  • gems & jewellery
  • transport equipments
  • Meat & Meat Preparations
  • Rubber Products
  • Primary & Semi-finished Iron & Steel
  • Marine products
  • Handmade carpets.

INDIA’S IMPORT FROM ROMANIA & SURROUNDING COUNTRIES
  • Metal scraps
  • Organic/Inorganic chemicals
  • Iron and steel
  • Machinery except electronics.
  • Manmade filaments
  • Spun yarns
  • Machineries
  • Manufacture of metals
  • Silver
  • Non-ferrous metals
  • Synthetic and rubber products
  • Pulp and waste paper
  • Manufactured fertilizers
  • Newsprint
  • Leather
  • Crude Minerals
  • Metal Scraps
  • Transport Equipments

"Right from trade to cricket to culture, India is creating quite a buzz in Romania."

H.E. Vasile Sofineti

Romanian Ambassador to India

  

Federation of Indian Export Organisations
New Delhi, INDIA.