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Opportunities for European business in India were presented at a seminar in BCCI
In one of BCCI’s halls, a press-conference and seminar were held in connection with the Chamber’s participation in the initiative of the European Union to promote the exports of European technologies to India.
The Secretary General of BCCI Vasil Todorov and the Director of the European Business and Technology Center /EBTC/ in India Poul Jensen answered the journalists’ questions. H.E. Divyabh Manchanda, Ambassador of India to Bulgaria also took part in the presentation and supported the initiative.
According to Mr. Todorov statistics show that India is a perspective market for EU member states, and for Bulgaria in particular. In the context of the global crisis, the European Union is looking for sources of economic growth beyond its borders. On its part, Bulgaria has doubled its trade turnover with India over the last 10 years. In 2011, it exceeded USD 173 million. Nevertheless, the potential for economic cooperation is far from being fully utilized.
Mr. Jensen presented the European Business and Technology Center as a catalyst for Europe’s goal to transfer technologies to India in order to reduce negative climate change and to promote the internationalization of European SMEs.
India has an average annual growth rate of 9% over the last 5-6 years. EBTC focuses its attention and activities on four key “sunrise” sectors in India: biotechnology, energy, environment and transport. The annual growth rate in these sectors reaches 15%.
Mr. Jensen presented the main characteristics of the Indian market – very powerful domestic market, growing middle class with good standard of living, growing urbanization, four key sectors with steady funding, totally different market structure as compared to the European market, different mentality, different consumer profile, etc.
EBTC keeps a database of projects developed in India, for which European partners are required. With the assistance of the Association of European Chambers of Commerce - EUROCHAMBRES, the Bulgarian Chamber of Commerce and Industry and 15 other partner organizations in Europe, EBTC helps European SMEs enter the Indian market properly. The services of EBTC are provided against a fee.
The Director of EBTC gave several examples of the Center’s successful work for finding the right partners to companies from India, Spain, UK, Denmark, Sweden, Poland and the Netherlands. He emphasized the challenges which European businessmen face in Asia.
In the course of discussion it became clear that energy and environment are among the most prosperous sectors at the moment and most of the projects developed in India with partners from the EU are concentrated in these sectors.
By the end of the year, the Bulgarian Chamber of Commerce and Industry in cooperation with EBTC will organize several more events dedicated to India.
26.04.2012
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21-04-2012 -
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