Indian companies’ in UK make 50+ billion pounds a year
Visiting Ministers have underlined their countries’ interests in building trade with India at the 2nd CII India Europe Business and Sustainability Conclave, held by the Confederation of Indian Industry (CII) in New Delhi on 21 Feb 2024.
“Slovakia, as a member of the EU, is interested in deepening the EU-India strategic partnership,” said Juraj Blanár, Minister of Foreign and European Affairs, Slovak Republic https://slovaktrade.sk/ .
The priority for the Slovak Republic is to see the successful conclusion of a well-rounded FTA, the Investment Protection Agreement and the agreement on Geographical Indications, he told delegates at the conclave.
“The EU-India Trade and Technology Council https://www.europarl.europa.eu/portal/en also plays an important role in our bilateral relationship focusing on strategic technology, connectivity, and green energy as well as promoting bilateral trade and investment.”
Lativa has many companies which are strong in the fields of digital, electronics, renewables, robotics, space industry, etc. and are looking for partnerships outside, added Krišjanis Karinš, Minister of Foreign Affairs, The Republic of Latvia.
Latvia https://www.mfa.gov.lv/en is part of the European Union and of the 450 million people market and has been building up a resilient and dynamic economy.
Latvia is also very interested in furthering ties with India as part of the general European initiative, he told delegates at the conclave.
Péter Szijjártó, Minister of Foreign Affairs and Trade, Hungary https://hungarytoday.hu/ , has called for a start of FTA negotiations between EU and India. This, he said, would be to the mutual benefit of both sides.
He has also called for an investment protection agreement and an agreement on protecting the geographical indicators.
Dr. Martin Kocher, Federal Minister of Labour and Economy, Austria https://www.advantageaustria.org/ , hoped to see the two democratic partners forging a deep and wide relationship across the economic, technological, and political spectrum, as well as in sports, to provide stability in an unpredictable world.
Indian companies in the UK employ more than 100,000 people and have a turnover of more than 50 billion pounds per year, added Lord Ahmad of Wimbledon, Minister of State (Middle East, North Africa, South Asia, United Nations and the Commonwealth), Foreign, Commonwealth and Development Office.
“When we look at our relationship, we define it by our people and the people-to-people relationships we have. This is the most powerful component of our relationship.”
Wladyslaw Teofil Bartoszewski, Secretary of State, Ministry of Foreign Affairs, Poland, informed that India is the 2nd biggest location for Polish direct investments in Asia.
“Similarly, Poland https://www.trade.gov.pl/en/support/polish-chamber-of-commerce/ is a country with great business opportunities for Indian entrepreneurs and investors.”
India & Germany are working hand in hand to tackle climate change and to achieve sustainable growth & development, underlined Dr Tobias Lindner, Minister of State, Federal Foreign Office, Germany.
He added that ongoing negotiations for EU-India FTA holds immense potential to amplify trade & foster economic integration.
CII President R Dinesh has highlighted 4 specific areas of opportunities between the two economies including green hydrogen corridor, economic cooperation, circular economy, and technology sector.
CII Director General Chandrajit Banerjee has stressed upon the focus areas in India Europe relations including telecom and smart manufacturing, pharmaceuticals, climate, sustainability, and renewable energy, as well as development of technology and innovation hubs. This, he added, was due to India’s technological prowess. Fiinews.com
