Portugal’s Secretary of State for Economy, Joao Rui Ferreira emphasized the potential for India and Portugal to enhance economic ties, extending beyond trade to collaborations in sectors like manufacturing, renewable energy, and startups. Despite significant progress in trade relations over the past decade, both countries have yet to fully tap into their economic potential on a global scale. Ferreira views this as a strategic partnership for the future rather than just a growth in international trade.
Ferreira highlighted Portugal’s expertise in renewable energy, offering support to India in areas such as sustainability, waste management, and clean energy transition. Additionally, he identified advanced manufacturing as a key cooperation area, citing Portugal’s strength in engineering and the quality of its products and machinery. The Secretary of State also sees opportunities in life sciences, pharmaceuticals, agro-food industry, and tourism for collaboration between the two nations.
Moreover, discussions are underway to enhance connectivity between India and Portugal, including the possibility of establishing a direct flight. Ferreira noted the potential role of Portuguese contractors in India’s infrastructure development. He also emphasized the prospects in startups, suggesting collaboration between Portuguese and Indian companies to drive critical sectors forward. Portugal’s strategic location as a gateway to the European single market offers Indian startups access to a vast consumer base and Portuguese-speaking countries.
Portugal’s focus on renewable energy, with 80% of its energy derived from renewable sources, aligns well with India’s sustainable development goals. The country’s expertise in decarbonizing industries and investing in the battery value chain presents significant opportunities for cooperation with India towards building a more sustainable economy by 2047.
