With the signing of the EU-India free trade agreement (FTA), bilateral trade between India and Ireland is expected to grow 10% by 2015, a senior Ireland Minister said.
"There is a huge growth potential for Irish exports to India. We feel that the new FTA will open the doors for investments and trade between the two countries. We expect our bilateral trade to increase by 10% by 2015," Ireland Minister for Enterprise, Jobs and Innovation Richard Bruton told PTI here.
In 2009, the bilateral trade between the two countries rose by 7% to Euro 1 billion as compared to 2008.
The Minister, accompanied by a delegation of nine Irish companies, and 13 universities and technology institutes, was on a two-day trade mission to India (April 19-20) to meet key Indian political leaders and corporate decision-makers to endorse and promote Irish companies, products and services.
"The trade mission was organised because of the high growth potential for Irish exports to India and as a direct response to growing interest in the market," he said.
Over 30 Irish companies, ranging from software and IT to construction services to higher education, have their own offices in India, while 100 Irish companies are working with Enterprise Ireland and are in the early stages of selling to this market, Bruton said.