Dutch ambassador Marten van den Berg and DPIIT secretary Anurag Jain signed the joint statement.

India’s department for promotion of industry and internal trade and the Dutch embassy in New Delhi have signed a joint statement to formalise the bilateral fast-track mechanism (FTM), whose executing body is Invest India, the national investment promotion and facilitation agency. The FTM aims at quicker resolution of investment cases of Dutch firms in India.

The mechanism will strengthen and assist bilateral efforts to increase mutual investment activities, as well as support and develop business cooperation between companies in both the countries, a release from the Indian ministry of commerce and industry said.

According to official Indian statistics, the Netherlands was 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 was around $42.3 billion.

In fiscal 2021-2022, bilateral trade between the two countries amounted to $17 billion.

Fibre2Fashion News Desk (DS)