In a strategic move to expand its global trade footprint, India has intensified its engagement with Croatia and the Netherlands, aiming to diversify its trade partnerships amid ongoing global economic shifts.
On April 22, 2025, Commerce Secretary Sunil Barthwal met with Zdenko Lucic, State Secretary for Foreign Trade and Development at the Croatian Ministry of Foreign and European Affairs, in Zagreb. The discussions focused on deepening bilateral trade relations and exploring fresh investment opportunities. The Indian Embassy in Croatia shared highlights of the meeting through a post on X (formerly Twitter), describing the talks as “fruitful.”
Furthering this outreach, Secretary Barthwal traveled to The Hague, where he held discussions with Michiel Sweers, Director-General for Foreign Economic Relations of the Netherlands. The meeting centered around enhancing bilateral trade and economic cooperation through initiatives like the Joint Trade & Investment Committee (JTIC). According to a post by the Indian Embassy in the Netherlands, both sides expressed a strong commitment to advancing strategic collaboration.
India’s outreach comes at a time when global trade faces significant uncertainties and realignments. With emerging economies like Croatia offering new opportunities, India is actively seeking to broaden its network of trade partners. Croatia’s recent re-election of President Zoran Milanovic has further contributed to the stability and prospects for stronger bilateral ties. During his visit, Barthwal also engaged with leading Croatian industry representatives to foster business links.
The Netherlands, meanwhile, has emerged as a vital economic partner for India. It ranks as India’s 11th largest global merchandise trading partner and the top destination within the European Union for Indian goods during the fiscal year 2023-24. Merchandise trade between India and the Netherlands totaled USD 27.33 billion (INR 226,360 crores) during FY 2023-24, accounting for 2.45% of India’s total merchandise trade. India also enjoys a significant trade surplus with the Netherlands, amounting to USD 17.40 billion (INR 144,160 crores).
The momentum has continued into FY 2024-25 (April-November), with the Netherlands becoming India’s 9th largest merchandise trading partner. During this period, bilateral trade reached USD 19.62 billion (INR 164,407 crores), with India maintaining a trade surplus of USD 12.97 billion (INR 108,545 crores). Notably, the Netherlands stands as India’s largest merchandise export destination in Europe and the third-largest worldwide, trailing only the United States and the United Arab Emirates.
India’s recent efforts underscore its commitment to strengthening trade ties not only with established partners but also with emerging markets, positioning itself strategically amid evolving global trade dynamics.
