“Poland has demonstrated strong economic foundations in the form of steady GDP growth, stable currency and low inflation along with a secure political framework. The country intends to integrate with the rapidly growing Indian economy. With this vision Prime Minister Ms. Ewa Kopacz has announced the formation of Polish Export Import Bank which is expected to give impetus to the two-way trade between Poland and India. Secondly, the nation is working on starting direct flights to India to enhance proximity between the nations. The passage of the renewable energy act has created business opportunities for Indian market players in Poland. Lastly, institutional support from the special economic zones and free trade zones makes Indian investment into Poland a lucrative one”, said H.E. Mr. Jerzy Witold Pietrewicz, Minister for Economy (Secretary of State), Republic of Poland during an interactive meeting organised by All India Association of Industries, MVIRDC World Trade Centre and Indo Polish Chamber of Commerce.
Elaborating on the prospects for Indian business men in Poland H.E. Mr. Pietrewicz said that Poland exhibits ease of doing business with its strategic position giving access to the consumption markets of the European Union, competent and cheap labour supply, tax incentives, support towards land acquisition besides institutional support from the Ministry of Economy and Trade, the Embassy and Chambers of Commerce.
Affirming the views of H.E. Mr. Pietrewicz, H. E.Tomasz Lukaszuk, Ambassador of the Republic of Poland said that Poland looks forward to augment ties with India. The Embassy stands equipped to help Indian businesses set up base in Poland and vice-versa and may be contacted for any assistance. Today’s business matching meetings shall open avenues for boosting our economic and trade relations between the nations, H.E. Mr. Lukaszuk added.
Present on the occasion was H.E. Mr. Leszek Brenda, Consul General, Consulate General of Republic of Poland.
Exploring areas of mutually beneficial cooperation between India and Poland Mrs. Monika Piatkowska, Vice President of Polish Information Foreign Investment Agency said that Poland is an export driven economy. The nation holds expertise in manufacturing of medicinal equipments, cosmetics, machinery, construction, food processing, etc which may be exported to India. On the other hand Poland can gain from the competent IT and BPO sector of India. The Polish Information Foreign Investment Agency supports foreign investment into Poland by assisting companies to settle in the country.
Mr. J J Singh, President Indo Polish Chamber of Commerce and Industries said that Poland perceives India to be a strong partner in Asia while being an Indian gateway to the European Union. Both the economies exhibit stable macro economic prospects and conducive business climate. Given the same, both nations must share mutual complementarities with Poland exchanging manufacturing expertise for Indian technical know-how, Mr. Singh added.
Earlier, in his welcome remarks Mr. Vijay Kalantri, President, All India Association of Industries and Vice-Chairman, MVIRDC World Trade Centre said that the bilateral trade between India and Poland stands at US$ 1.7 billion with India’s exports worth US$ 810.85 million and Indian imports worth US$ 863.25 million. India’s exports to Poland constitute cotton, textiles, chemical products, electromechanical appliances, vehicles, air ships and vessels. Poland exports electromechanical appliances, mineral products, chemical products, etc to India. The two economies have an ocean of opportunities to enhance cross border relations. Given Prime Minister Mr. Modi’s ‘Make in India’ campaign in coherence with prospective opening up of the mining, IT, tourism, automotive sectors presents a plethora of opportunity for Polish companies in India. On the similar lines the manufacturing hubs in Poland may be tapped by Indian companies to produce pharmaceuticals, textiles, engineering and automotive products in the country. The two nations must join hands to increase bilateral trade to US$ 5 billion in the years to come.
Further, Polish and Indian companies from the sectors of food processing, cosmetics, metal engineering, machine manufacturing, mining, aviation, furniture, etc participated in business matching and networking meetings.
Ms. Rupa Naik, Executive Director, All India Association of Industries and Director-Projects, MVIRDC World Trade Centre proposed the vote of thanks.
From (L -R): Mrs. Monika Piatkowska, Vice President of Polish Information Foreign Investment Agency, Mr.Vijay G.Kalantri, Vice Chairman, MVIRDC, World Trade Centre, President, All India Association of Industries shaking hands with H.E. Jerzy Witold Pietrewicz, Minister for Economy (Secretary of State), Republic of Poland, H. E. Tomasz Lukaszuk, Ambassador of the Republic of Poland during an interactive meeting ‘Enhancing Trade Cooperation between India and Poland’ jointly organized by MVIRDC World Trade Centre, All India Association of Industries and Indo Polish Chamber of Commerce.