New Delhi, May 11 (IANS). According to Portugal’s Secretary of State for Economy, Joao Rui Ferreira, there is immense potential to strengthen the economic relations between India and his country. He said that cooperation is not limited to trade, both the countries are working mutually in areas like manufacturing, renewable energy and startups.
Speaking exclusively to IANS, Ferreira said, “In the last 10 years we have made a lot of progress and seen significant growth in bilateral trade relations. But if we look at the global data, the full potential is still not reached. According to me, it is not just the growth of international trade, but a strategic partnership for the future.”
He said that this partnership combines Portugal’s expertise, skills and technical capabilities with India’s ambitious development plans related to infrastructure and industrialization.
Ferreira said that in the field of renewable energy, Portugal can help India achieve the goals of sustainability, waste management and clean energy transition through its expertise and technical knowledge.
He said that advanced manufacturing is also an important area of cooperation, as Portugal has a lot of expertise in the field of engineering. We are among the leading countries in Europe in terms of the number of engineering graduates.
“We are recognized for our high-quality products, machinery and tooling. In addition, there is also great potential for cooperation in life sciences, pharmaceuticals, agri-food industry and tourism,” Ferreira said.
He also said that there is a need to increase contacts between the two countries. In this direction, talks are going on on the possibility of starting direct flights between India and Portugal, which can prove to be a big change for trade and bilateral relations.
Ferreira said that the Portuguese contractors who came with them to India can play an important role in India’s infrastructure development.
He also mentioned the strong potential in the startup sector, saying that Portugal has a large number of tech startups, which can partner with Indian companies and develop key sectors through joint projects in both the countries.
Ferreira pointed out that Portugal is the gateway to the European single market. Companies setting up in Portugal can access the world’s largest integrated market with 450 million consumers. At the same time, Indian startups can also expand in Portuguese speaking countries by setting up in Portugal.
He said Portugal has strong digital and energy infrastructure, which provides an excellent environment for startups.
Ferreira further said that Portugal has extensive experience in the field of renewable energy and about 80 percent of the country’s energy comes from renewable sources.
He informed that Portugal has paid special attention to decarbonization of industries and electrification of industrial processes. There has also been significant investment in the battery value chain, which includes mining, refining, battery production, grid management and waste-to-energy systems.
“I see huge potential for cooperation between India and Portugal. Portugal’s expertise matches perfectly with India’s ambitious plan to build a more sustainable economy by 2047,” he said.
–IANS
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