No. PR – 147
November 24th, 2021
Virtual edition of 2nd International Conference and Exhibition on Strengthening India–Europe Economic Relations: Opportunities and Way Forward on 23rd – 24th November, 2021
International Affairs & Trade Fairs Division, PHDCCI with the support of Ministry of Commerce & Industry, Government of India & India Office of the Konrad-Adenauer-Stiftung (KAS) is organizing the Virtual edition of 2nd International Conference and Exhibition on Strengthening India–Europe Economic Relations: Opportunities and Way Forward on 23rd – 24th November, 2021. The Inaugural Session of the Conference was held on 23rd November 2021 followed by 2 Plenary Sessions themed as Global Trade and Investment Opportunities for Indian Industry in Eastern Europe & Northern Europe.
INAUGURAL SESSION & PLENARY SESSION 1: GLOBAL TRADE AND INVESTMENT OPPORTUNITIES FOR INDIAN INDUSTRY IN EASTERN EUROPE
During the introductory address Mr. Harjeev Singh Chawla, Co-Chair, International Affairs Committee for Europe & CIS highlighted that, India and Europe share a number of interests across a range of policy areas, including energy, climate change, environment; research and innovation, pharmaceuticals, biotechnologies, ICT, education and sustainable development. Additionally, the culture also plays a vital role in any strategic partnership. Hence, development of the tourism sector would lead to greater cultural understanding and further enhance India’s relations with Europe.
In his presidential address Mr. Pradeep Multani, President, PHDCCI said that, on the trade front, India is a very important strategic partner as well as an attractive trade and investment partner for the EU, combining a large market with the growth rate that makes it one of the fastest growing economies of the world, backed by its strong democracy and industry, hence creating ample opportunities. The total trade between India and EU to around USD 81 billion, though these numbers sound huge, they still possess huge potential for substantial improvement.
In the special address Mr. Ionut Mircea Viziru, Economic Secretary (Economic & Commercial), Embassy of Romania gave an overview of economic relations and advancing synergies between India-Romania relations. He further mentioned that Romania is undeniable a reliable partner for profit-oriented worldwide entrepreneurs. By an informative presentation he informed about a wide range of business facilitation aspects that can be of substantial help to potential investors.
Mr. Shyam Sunder Dewani, Second Secretary (Political & Commercial), Embassy of India to Hungary, Bosnia and Herzegovina said, that Hungary and India are globally integrated and have encouraging bilateral trade relations. India was the largest Greenfield Investor in Hungary, in the year 2014. Since, 2015 and to 2020 there has been an immense growth in the bilateral trade between the two countries, and as of 2020 the total bilateral trade value is approx. 421 million USD.
Mr. Roman Masarik, Acting Head of Mission, Embassy of the Czech Republic mentioned that, by modifying the existing visa procedure and making it more flexible it can facilitate the bilateral trade between many European Countries and India. Free Trade Agreement between EU Countries such as Czech Republic and India would further enhance bilateral trade opportunities.
Mr. Martin Partl, Director- Business Development, CzechInvest, Czech Republic highlighted on the versatile range of services they provide to their clients such as business intelligence, consultancy on available financial support, identification of green / brownfield sites, production facilities and officers. Additionally, services like identification of potential acquisition, joint venture, supply and research partners, tailor-made visits to the Czech republic , liaison with government bodie, aftercare services, Visa services and policy advocacy to government.
In her guest address Ms. Renita Bhaskar, Minister Counsellor and Head of Trade Economic Affairs, Delegation of the European Commission mentioned that, there is a lot of scope in the areas of trade and investment between India and the European Union. Additionally, the countries have agreed on new Connectivity Partnership and a Digital Partnership as well alongside partnering with India on the subject of Climate Change to take effective measures.
Mr. Naveen Seth, Assistant Secretary General, PHDCCI presented the vote of thanks and highlighted that it’s an opportune time for Indian businesses to engage and work in a deeper cooperation with counterparts in Europe.
PLENARY SESSION 2: GLOBAL TRADE AND INVESTMENT OPPORTUNITIES FOR INDIAN INDUSTRY IN NORTHERN EUROPE
Mr. Harjeev Singh Chawla, Co-Chair, International Affairs Committee for Europe & CIS in his introductory remarks highlighted India and North European countries have complementarities and the growing economic ties with emerging markets such as the India and Northern Europe are important to assure an increase of exported goods and services and in recent years, bilateral relations have acquired diversity with collaboration in research, innovation, and investments by both sides.
In his special address presented through a recorded message, H.E. Mr. Tanmaya Lal, Ambassador of India to Sweden & Latvia mentioned that, India and Sweden have had longstanding close relations based on common values; strong business, investment and R&D linkages whereas India and Lativa shares warm and friendly relations that are expanding steadily. Innovation, Technology, Investment and R&D collaborations provide the bedrock of this modern relationship and the formation of a natural bond and curiosity between the countries, which serves as an excellent foundation for business development and cooperation.
Dr. Jukka Holappa, Country Director – India, Business Finland informed that, Finland is the world leader in term of digitization, 6G research and development, battery value chain system, quantum computer building as well as Bio-Banks. He also reflected upon the services designed for Indian companies that are aiming for bold business growth and renewal on international markets. Moreover he highlighted the opportunities that Finland can provide to Indian businesses such as an easier access to Nordic and European markets.
Mr. Gautam S Bhattacharyya, Deputy Head of Mission, Embassy of Sweden mentioned that it is crucial for Indian businesses to look at Sweden, Finland and Denmark as a collective Baltic State entity that can provide immense bilateral trade opportunities. It is elating to observe that many new and young businesses and entrepreneur are able to discover the Nordic regions such as Sweden and Finland as well Denmark without facilitated delegations and rather with the help of digitally interconnected business ecosystem.
H.E. Mr. B Shyam, Ambassador of India to Iceland highlighted that, the bilateral high-level visits of Icelandic and Indian dignitaries have served to strengthen the official ties between the two countries. He provides updated information on trade and investment possibilities between India and Iceland, and offers various commercial services.
Mr. Harjeev Singh Chawla, Co-Chair, International Affairs Committee for Europe & CIS while presenting the vote of thanks thanked the eminent dignitaries present and mentioned that it’s enlightening session to know about the various areas of cooperation exist between India and Europe.
The session was moderated by Mr. Naveen Seth, Assistant Secretary General, PHDCCI and Mr. Niraj, Senior Secretary, PHDCCI and witnessed the participation of more than 230 industry stalwarts from India and Europe. The session was followed by B2B meetings between the business & industry houses of India and countries of Europe region.
These virtual sessions of PHDCCI were also supported by Multani Pharmaceuticals Limited ;P G Industry ;Uflex Ltd ;DLF Limited ;Continental Carriers Pvt LTD. ;Belair Travel & Cargo Pvt. Ltd. ;MMG Group ;Jindal Steel & Power ;Radico Khaitan Ltd. | Paramount Communications ;Superior Industries Limited ;JK Tyre & Industries Ltd. ;SMC Investments and Advisors Ltd. ;Sage Group Ltd. | AYUSH Herbs Pvt Ltd ; Comtech Interio ;R E Rogers ;Apeejay Stya Group ;Ease my Trip ;DCM Shriram Industries Ltd. ;Blossom Kochhar Beauty Products Pvt Ltd ;Oswal Grentech Ltd. | MV Cotspin Ltd ;Synergy Environics Ltd. ;Ajit Industries Pvt Ltd ;P S BEDI & Co. ;Indian Farmer & Fertilizers Corporation Ltd ;Jindal Steel ;Hindware Sanitary ;Modern Auto mobiles
PHD Chamber of Commerce and Industry