As the Central European countries are offering many incentives, a Roundtable on “Economic Engagement between India and Central / Nordic European countries” organised by Confederation of Indian Industry (CII) along with Ministry of Commerce & Industry, Government of India, at CII headquarters in Chandigarh.
Piotr Klodkowski, Ambassador, Embassy of the Republic of Poland shared that “Central Europe is an ideal gateway for Indian companies keen to tap into the growing United European market due to its strategic location advantage and immense connectivity. After joining the Schengen Area 2007 CE is borderless and there is free movement of capital, goods, people and services within the 27 EU member States. In a bid to boost investment flows and strengthen inter-regional ties, Central European countries are offering special incentives and attractive taxation regimes to encourage companies from Punjab and Chandigarh region to join hands with their counterparts in central Europe and further implement their regional and international expansion plans.”
“Most of the central & Nordic European Countries like Austria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia, Denmark, Sweden, Finland, Norway, Iceland and Switzerland offer key advantages like economic and political stability, European Union (EU) Membership, availability of skilled human resources at reasonable prices, effective incentive system including EU-Funds and low taxation regimes”, he added.
“India – Poland trade, which stood at just $2 billion in 2012 has immense potential to rise. India - Poland business partnership is a win-win situation for both the nations as it would help both countries meet their demands and also strengthen their economies”, added the Polish Ambassador.
Mr Dharmendra Kumar, Under Secretary, Ministry of Commerce and Industry, Government of India shared that “ A study by Ministry of Commerce and Industry, GoI emphasised the need for Indian companies, especially in north to collaborate and make use of the advanced technologies of Central Europe (CE) and tap immense trade potential available between India CE. Hence, we can expand our markets, enhance our share in world exports and earn foreign exchange as well. GoI is aggressively encouraging Indian companies to do business there as CE region has tremendous advantage of favourable tax regimes and easy and open access to all European markets, availability of skilled labour at low costs and stable macroeconomic environment”.
Emphasizing on SMEs investment, Katerina Gregorova, Czech Republic Economic Section, Embassy of the Czech Republic said that “We would like to invite Indian SMEs to invest in Czech Republic in sectors in which India is strong, such as auto parts, software development, chemicals and pharmaceuticals. Czech can be the base for India in expanding or exporting goods into other European Countries”.
Ritva Haukijarvi, Finland Counsellor (Economic & Commercial) Embassy of Finland shared that “Nordic Region offers tremendous scope for ICT due to its favourable tax regimes. Major foreign companies have successfully established or relocated their shared service centers, customer and call centers, software and IT centers into CE. This demonstrates that Nordic region is also a suitable place for services oriented activities.
Jatin Arora, Central Europe, Director, Deloitte Touche Tohmatsu India Pvt Ltd shared that “Central Europe is becoming a major part of the European and global business environment as many CE countries have sharply slashed their tax rates, created investor friendly tax regimes, SEZs and improved their Infrastructure tremendously.
Piotr Klodkowski, Ambassador, Embassy of the Republic of Poland shared that “Central Europe is an ideal gateway for Indian companies keen to tap into the growing United European market due to its strategic location advantage and immense connectivity. After joining the Schengen Area 2007 CE is borderless and there is free movement of capital, goods, people and services within the 27 EU member States. In a bid to boost investment flows and strengthen inter-regional ties, Central European countries are offering special incentives and attractive taxation regimes to encourage companies from Punjab and Chandigarh region to join hands with their counterparts in central Europe and further implement their regional and international expansion plans.”
“Most of the central & Nordic European Countries like Austria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia, Denmark, Sweden, Finland, Norway, Iceland and Switzerland offer key advantages like economic and political stability, European Union (EU) Membership, availability of skilled human resources at reasonable prices, effective incentive system including EU-Funds and low taxation regimes”, he added.
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While inviting the SMEs from the tricity to invest in Poland, he shared that “Poland, which has been rated amongst the top 12 most attractive countries for investors, as per the UNCTAD, World Investment Report and 6th Most Attractive FDI Destination is particularly keen to collaborate and share with India its latest technologies in the areas of Non-Conventional energy source (solar & wind energy & bio-fuels & shale gas), Environment protection (water management, waste-water purification), Mining and infrastructure equipment (port equipment), Chemicals (inorganic, organic, dyestuff, pesticides), Industrial products (machines & technological equipment, auto and electrical components), Information technology (hardware & software & BPO), Health care (pharmaceuticals, medical equipment), Agriculture (dairy products, milk processing equipment, agricultural products)”.
“India – Poland trade, which stood at just $2 billion in 2012 has immense potential to rise. India - Poland business partnership is a win-win situation for both the nations as it would help both countries meet their demands and also strengthen their economies”, added the Polish Ambassador.
Mr Dharmendra Kumar, Under Secretary, Ministry of Commerce and Industry, Government of India shared that “ A study by Ministry of Commerce and Industry, GoI emphasised the need for Indian companies, especially in north to collaborate and make use of the advanced technologies of Central Europe (CE) and tap immense trade potential available between India CE. Hence, we can expand our markets, enhance our share in world exports and earn foreign exchange as well. GoI is aggressively encouraging Indian companies to do business there as CE region has tremendous advantage of favourable tax regimes and easy and open access to all European markets, availability of skilled labour at low costs and stable macroeconomic environment”.
Emphasizing on SMEs investment, Katerina Gregorova, Czech Republic Economic Section, Embassy of the Czech Republic said that “We would like to invite Indian SMEs to invest in Czech Republic in sectors in which India is strong, such as auto parts, software development, chemicals and pharmaceuticals. Czech can be the base for India in expanding or exporting goods into other European Countries”.
Ritva Haukijarvi, Finland Counsellor (Economic & Commercial) Embassy of Finland shared that “Nordic Region offers tremendous scope for ICT due to its favourable tax regimes. Major foreign companies have successfully established or relocated their shared service centers, customer and call centers, software and IT centers into CE. This demonstrates that Nordic region is also a suitable place for services oriented activities.
Jatin Arora, Central Europe, Director, Deloitte Touche Tohmatsu India Pvt Ltd shared that “Central Europe is becoming a major part of the European and global business environment as many CE countries have sharply slashed their tax rates, created investor friendly tax regimes, SEZs and improved their Infrastructure tremendously.