Poland can be gateway for India to Europe
In a bid to boost Indo-polish economic relations, Polish-Indian Investment Forum was jointly organised in Bangalore by Confederation of Indian Industry (CII) and Polish Embassy, on Monday. Polish Prime Minister Donald Tusk, signed a Memorandum of Understanding between CII and Polish Information & Investment Agency on the occasion.
In his keynote, stressing on the importance of India and Poland strengthening investment, he said, “Poland is an open gateway, for India, to Europe and the largest market in Central and Eastern Europe.”
He said India was a reliable partner. The bilateral trade between the two countries grew beyond $1 billion, since the opening up of Indian economy in 2001. Through technology transfer agreement, joint ventures are possible, the Polish delegation said. Strategically located in central Europe, Poland offers a springboard to other markets. It boasts of a young and educated labour force, a rapidly expanding domestic market and a solid banking system, they said.
Unaffected by recession
“Poland’s economy is getting better this year. The GDP growth was steady in 2009 at the rate of 1.8 per cent,” said Polish Information and Foreign Investment Agency’s Director of Foreign Investment Department, Iwona Chojnowska-Haponik, highlighting the investment climate in Poland. It has a firm footing in many sectors, especially BPO, with 360 companies operating there.
The Polish government offers grants through individual negotiations. It topped the list among 12 new European member states by attracting $11.4 billion worth of FDI. Indian business has been expanding in Poland and the latter’s companies too are expanding in India. Indian investments include Infosys, Wipro, Videocon and Arcelor Mittal among others.
