Strategies For Promoting Trade And Investment From Portugal

Abstract

This paper presents innovative strategies aimed at bolstering trade and investment between India and Portugal, particularly in the wake of the post-COVID-19 global economic landscape. It underscores the burgeoning friendly ties between the two nations across political, economic, and cultural realms, propelled notably by the leadership of Prime Minister António Costa, the first Indian-origin head of government in the Western world. The paper examines the trajectory of bilateral trade, highlighting India's emergence as a significant destination and supplier for Portugal.

It identifies disruptions caused by the COVID-19 pandemic and explores avenues for diversifying Portuguese businesses, particularly towards India. The strategies proposed encompass various sectors, including renewable energy, water and waste management, leveraging historical ties with Goa, quality-driven production, technology transfers, promotion of business clusters, financial arrangements to attract foreign investment, and advancing trade agreements. Furthermore, the paper emphasizes India's potential as an alternative supplier to China, especially in the pharmaceutical sector, amid the pandemic.

The conclusion emphasizes the need for effective implementation through robust communication and political engagement to overcome trade barriers and foster mutual economic growth. The paper provides a comprehensive framework for enhancing economic collaboration between India and Portugal, capitalizing on synergies and emerging opportunities in a dynamic global economic landscape.