The bilateral trade between India and Romania has grown to almost one billion dollars, the Ambassador of India to Romania, H.E. Rahul Shrivastava, told ecopoliticnews.com in an exclusive interview. He also said that India will surpass Germany in 2025 in terms of nominal GDP, and Japan in 2027-2028.
„The relations between Romania and India are very good, and this year we are celebrating 75 years since the establishment of diplomatic relations between India and Romania. In these 75 years our relations have only grown. We are also celebrating the tenth anniversary of the signing of the extended India-Romania Partnership, which was signed in 2013. After that, also, relations between India and Romania have improved and even strategic sectors have diversified, such as defense, peace, atomic energy.
Our bilateral relations are not only expanding in terms of intensity, but also in terms of scope, the areas are widening. The bilateral trade is an area that is increasing. Despite the pandemic, bilateral trade has grown to almost one billion dollars. This year we hope to exceed this figure.
India is a huge country. All I can say at this point is that India is the fastest growing large economy and even as we speak now India is the 5th largest country in terms of nominal GDP, but if we consider of purchasing power parity, we are the 3rd largest.
In the year 2025, I think we will surpass Germany, in 2027-2028 we will surpass Japan, in the year 2050 we will surpass even the United States in terms of nominal GDP to become the second largest economy in the world.
Throughout history, until the 18th century, when colonialism started in India, India’s economy was the largest in the world. So truly we are getting back to that position, because when we got independence, our share of the world economy dropped from 35% of the world GDP to about 1.5%. This is slowly coming up. Our contribution now to global GDP is around 7.5-8%”, H.E. Rahul Shrivastava told ecopoliticnews.com.
Other topics addressed by H.E. Rahul Shrivastava:
- India is the world leader in the production of medicines;
- High birth rate in India;
- Indian workers who come to Romania.
Below is the full interview with H.E. Rahul Shrivastava.
