India offers significant opportunities, says Jha
The aim is to raise the India-European Union by Euro150 billion worth of trade in goods and services in the next five years, said Dr. Vikas Chaturvedi who is the Chairman of ICAI Netherlands Chapter, Chairman of India Dutch Financial Corridor (IDFC).
The EU is India’s largest trading partner, with the current business for Euro80 billion worth of trade in goods and over Euro20 billion in services.
Dr. Chaturvedi, who is also CEO of Valuecent Consultancy, set the target following the 8th edition of India Symposium 2020 organized by the Institute of Chartered Accountants of India (ICAI) Netherlands Chapter and India Dutch Financial Corridor (IDFC).
“Signing of trade deal is a key focus area between India and EU which has been pending for a very long time and the successful negotiating in concluding the trade deal will act as a big trigger in boosting the bilateral business between India and EU,” stressed Dr. Chaturvedi, who is also an advisor to various government bodies and several corporates between India and European Union.
“Both India and the EU are determined to take the business to next level. India is strategically EU’s natural partner,” Ugo Astuto, EU Ambassador to India, added in the release issued on 15 Dec 2020 after the symposium.
The annual event, held in a virtual format, was themed “Unlocking the Potential: Business Opportunities between India and EU”.
This Symposium aimed to play a catalyst role in achieving the ambition of both the leaderships. Given the situation of Brexit, the India Symposium 2020 aims to foster the relationship between the two sides India and the EU.
“India and EU have common and strong values which bind us together and lot to be achieved in the future,” said Suresh Prabhu, Former Minister of Commerce and India’s Sherpa to G7 and G20 countries.
During the Symposium there were deliberations on enhancing the business opportunities between India and the EU.
“Times have changed, nature of partnerships between India and EU have evolved from traditional businesses to technology-driven businesses,” said Ritesh Agarwal, Founder and Group CEO of OYO Hotels and Homes. OYO is a large investor in the EU market.
“India offers significant opportunities for EU companies,” assured Santosh Jha, the Indian Ambassador to EU, Belgium and Luxembourg.
ICAI opened 3 new offices in Belgium, France and Switzerland. They were formally launched by Prabhu.
“ICAI aims to be the largest accounting body with a presence in over 100 countries in next 5-7 years”, said Atul Gupta, President of Institute of Chartered Accountants of India.
During the Symposium, a Memorandum of Understanding (MoU) was signed between ICAI and VRC Netherlands. This is the first MOU signed by ICAI with a European Union Institution.
Mumbai Mayor Kishori Pednekar presented Mumbai as a Fintech Hub and discussed the opportunities of EU companies in India.
Vikas Magoon, CEO of LT Foods Europe BV, shared his views on LT Foods Strategic Vision for EU expansion. LT Foods is one of the fastest-growing Indian companies in the EU. #exports #investment #manufacturing /fiinews.com
