Polish businesses seek ventures in Gujarat's 'vibrant economy' | SupportBiz


Polish businesses seek ventures in Gujarat's 'vibrant economy'

Poland is keen to scale up trade and investment with India, especially in Gujarat where it intends to set up joint ventures in renewable energy. And, by the middle of next year, Polish airline LOT will start flying directly to New Delhi.

"We are very much interested to set up joint ventures in Gujarat, particularly in the sector of renewable sources of energy," said Miecyslaw Kasprzak, secretary of state in the Polish ministry of economy.

"To us in Poland, the vibrant economy of Gujarat is an example which we should sincerely emulate," he said, adding that a Polish delegation would attend the sixth "Vibrant Gujarat" global investment summit in January 2013.

"It will be our honest commitment to cooperate with the Gujarat state in many areas," Kasprzak told a visiting business delegation led by B.B. Swain, vice chairman of the Gujarat Industrial Development Corporation (GIDC).

During its four-day stay, the delegation interacted with the Polish Chamber of Commerce.

It also signed a Memorandum of Understanding (MOU) with the Indo-Polish Chamber of Commerce and Industry (IPCCI) based here. As per the MOU, IPCCI will be the sole representative to promote Gujarat in Poland.

"Time has come for many more Indian states to send their delegations to Poland. Since joining the European Union, Poland has become a bridge between Eastern and Western Europe," said IPCCI president J.J. Singh.

"More than 800 billion dollars have been invested in Poland in the last decade and India has only 2 billion dollars trade annually with Poland. Since India and Poland have historically been friendly, it is high time that Indian businessmen should look towards Poland."

Singh said there are ample opportunities to increase two-way trade and the direct flight from Warsaw to Delhi would facilitate it further.

Poland is already India's largest trading partner in Central Europe. The major Polish companies operating in India include Torunskie Zaklady Materialow Opatrunkowych (TZMO) with Bella India in Dindigul for hygiene products and Can-Pack Poland in Aurangabad for metal packaging.

The Indian companies that have invested in Poland include Tata Consultancy Services, Reliance Industries, Videocon, Escorts, Strides Arcolab and Essel Propack.