Prime Minister Modi’s Visit to Portugal

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Indian Prime Minister paid official visit to the Portugal in June 2017. India’s relations with Portugal are close and friendly. Relations between India and Portugal began amicably in 1947 after India’s independence and diplomatic relations were established in 1949.

Bilateral relations however went into decline after 1950 over Portugal’s refusal to surrender its enclaves of Goa, Daman Diu and Dadra and Nagar Haveli on India’s west coast. By 1955, the two nations had cut off diplomatic relations, triggering a crisis which precipitated the liberation of Goa by Indian military forces, ending Portuguese rule over Indian enclaves in 1961.

It brought to an end, 451 years of Portuguese overseas provincial governance in Goa.  With the signing of a treaty in New Delhi on December 31, 1974 with the new democratic Portuguese Government, the two Embassies were re-established and amicable bilateral relations were restored.

With India emerging as a rapidly growing major economy and Portugal increasingly looking at key developing countries like India for enhancing trade and investment since the economic crisis of 2008, both countries are looking to deepen economic engagement.

Bilateral trade has been growing steadily over the last few years but remains modest at US$ 692 mn in 2015-16. Portuguese investments into India amounts to US$ 36.4 million and Portugal ranks 56th in terms of the overall FDI inflow into India.

With Portugal and India sharing similar priorities in terms of boosting domestic economic growth, investment, employment, industry and innovation, there are several sectors with complementarities where partnerships can be forged to mutual benefit, such as: infrastructure (roads, ports, inland waterways), renewable energy (wind and solar), ICT (Start Ups), Water & Waste Management, Agro-Processing, Tourism and Hospitality.

MoUs/Agreements Signed during the visit:

India-Portugal Space Alliance

Protocol amending the Double Taxation Avoidance Agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income

MoU on Nano Technology

MoU on Public Administration and Governance Reforms

MoU on Cultural Cooperation

MoU on Youth and Sports between

MoU on Cooperation in the fields of Higher Education and Scientific Research

MoU Between Agência para o Investimento e Comércio Externo de Portugal, E.P.E. (Aicep Portugal Global – Trade & Investment Agency) and PIBHub – Portugal India Business Hub

Memorandum of Understanding between Portugal India Business Hub & Reira Group/Goa Desk

MoU on Biotechnology

Memorandum of Understanding between Portugal India Business Hub & Indian Chamber of Commerce

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