New Delhi, May 11: João Rui Ferreira, Portugal’s Secretary of State for Economy, has highlighted the immense potential for strengthening economic ties between India and Portugal. He emphasized that the collaboration extends beyond trade, with both nations actively engaging in sectors like manufacturing, renewable energy, and startups.
In an exclusive interview, Ferreira stated, “Over the past decade, we have made significant progress and witnessed remarkable growth in bilateral trade relations. However, when we look at global figures, we have yet to reach our full potential. This is not just about increasing international trade; it is a strategic partnership for the future.”
He noted that this partnership connects Portugal’s expertise, skills, and technological capabilities with India’s ambitious infrastructure and industrialization development plans.
Ferreira explained that in the renewable energy sector, Portugal can assist India in achieving its goals of sustainability, waste management, and clean energy transition through its expertise and technical knowledge.
He also pointed out that advanced manufacturing is a crucial area for collaboration, as Portugal possesses considerable expertise in engineering. The country ranks among the leaders in Europe in terms of the number of engineering graduates.
Ferreira remarked, “We are recognized for our high-quality products, machinery, and tooling. Additionally, there are significant opportunities for collaboration in life sciences, pharmaceuticals, the agri-food industry, and tourism.”
He stressed the need to enhance connectivity between the two nations. Discussions are ongoing about the possibility of launching direct flights between India and Portugal, which could mark a significant shift for trade and bilateral relations.
Ferreira mentioned that Portuguese contractors accompanying him could play a vital role in India’s infrastructure development.
He also highlighted the strong potential in the startup sector, noting that Portugal is home to a large number of tech startups that can partner with Indian companies to develop significant projects in both countries.
Ferreira pointed out that Portugal serves as a gateway to the European single market. Companies established in Portugal can access the world’s largest integrated market, which comprises 450 million consumers. Meanwhile, Indian startups can expand into Portuguese-speaking countries by establishing themselves in Portugal.
He added that Portugal boasts robust digital and energy infrastructure, providing an excellent environment for startups.
Ferreira further stated that Portugal has extensive experience in renewable energy, with nearly 80% of the country’s energy derived from renewable sources.
He explained that Portugal has focused on the decarbonization of industries and the electrification of industrial processes. Significant investments have also been made in the battery value chain, which includes mining, refining, battery production, grid management, and waste-to-energy systems.
He concluded, “I see great potential for collaboration between India and Portugal. Portugal’s expertise aligns perfectly with India’s ambitious plan to create a more sustainable economy by 2047.”
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
Leave a Comment