The Hague, May 16 (PTI) Prime Minister Narendra Modi on Saturday invited Dutch companies to design, innovate and manufacture in India, saying the country offers immense opportunities.
Prime Minister Modi, accompanied by his Dutch counterpart Rob Jetten, also witnessed the signing of an agreement between Tata Electronics and ASML to support the semiconductor Fab in Dholera, Gujarat.
The two prime ministers also called for early implementation of the India-EU FTA. The FTA reinforces India and the European Union as trusted and reliable partners, committed to open markets, inclusive growth and resilient supply chains, an official release said.
In his remarks at the CEO Roundtable, Modi said today's India is a symbol of scale and stability, and no country in the world can match its speed in infrastructure, clean energy, and connectivity.
This is why India is contributing 17% to global growth, he said.
Emphasising that the government has transformed India's economic DNA through continuous reforms, Modi said that to give policy predictability to the private sector and increase opportunities for them, the country has opened up space, mining, and nuclear energy.
"We are continuously reducing compliance burdens and enhancing the Ease of Doing Business. Recently, we implemented next-generation reforms in areas such as taxation, labour codes, and governance," he said.
Modi further said manufacturing in India is now becoming highly cost-effective, and in the services sector the country has become the engine of efficiency and innovation on the strength of its talent.
He informed the gathering that all the global technology companies have opened up their global capability centres in India.
"We invite all of you to design and innovate in India. There can be no better time for this than today," Modi said.
The prime minister further said the year 2026 marks the beginning of a new 'Golden Era' in relations between India and Europe.
"This year, we concluded a historic Free Trade Agreement between India and the European Union. This agreement between two of the world's largest democratic and responsible powers will serve as a strong foundation for shared prosperity," he said.
To unlock the full potential of the FTA, Modi said he and Prime Minister Jetten are going to take several significant decisions today.
"We are going to transform this trusted India-Netherlands partnership into a strategic partnership. We are launching an ambitious joint roadmap for Green Hydrogen. We are making our ties in the technology sector future-ready," he said.
In his remarks at the roundtable, Modi also said that India and the Netherlands will further strengthen talent mobility, university partnerships, and joint R&D.
In other words, the future of the India-Netherlands partnership is brighter than ever before, he said.
"The strengthening strategic partnership between India and Europe is providing fresh impetus to our business relations. Moving forward at a faster pace in this direction now is in your hands.
"I am fully confident that you will now expand your scope, investments, and ambitions in India. And along with you, Europe's entire innovation ecosystem will also come to India," Modi said.
He noted that more than 300 Dutch companies are part of India story. The Netherlands is India's largest investor from Europe and second-largest trading partner.
The business leaders made presentations on three clusters : semiconductors, technology and innovation; infrastructure, logistics and maritime; and sustainability, energy and agriculture; outlining their strategies for India, the release said.
Ahead of the meeting, an agreement between ASML and Tata Electronics was signed in the presence of the two prime ministers. They welcomed the decision of Tata Electronics and ASML to partner together for India's first front-end semiconductor FAB in Dholera, Gujarat.
The business leaders who attended the meeting, include Keith Svendsen (CEO, APM Terminals), Christophe Fouquet (President and CEO, ASML), Arnout Damen (CEO, Damen Shipyards Group), Dolf van den Brink (Chairman of the Executive Board and CEO, Heineken), Marjan Rintel (President and CEO, KLM Royal Dutch Airlines), Maurice Geraets (CEO, NXP Semiconductors Netherlands), Roy Jakobs (CEO, Philips), Boudewijn Siemons (CEO, Port of Rotterdam), and Occo Roelofsen (CEO, Power2X).
Fabricio Bloisi (CEO, Prosus), Sander van't Noordende (CEO, Randstad), Martijn Eggink (Managing Director, Rijk Zwaan Zaadteelt en Zaadhandel), Hans Huistra (CEO, Royal HZPC Group), Derk te Bokkel (CEO, Royal IHC), Dick Richelle (Chairman of the Executive Board & CEO, Royal Vopak), and Govert van Oord (CEO, Van Oord), too participated in the meeting.
Modi arrived in the Netherlands on Friday from the UAE on the second leg of his five-nation tour to further deepen bilateral cooperation in areas such as trade, technology, defence and renewable energy. Other countries in the official tour include Sweden, Norway and Italy.