Polish Economic Mission to India

Investing in Poland

Investing in Poland

A conference took place at the beginning of December concerning a trade partnership agreement between Poland and India. “Within two years we would like to double the trade turnover between Poland and India and in the next five years to increase it fivefold,” said Jerzy Pietrewicz, the deputy Minister of Economy. The mission, which was led by Pietrewicz, was instigated by the Polish Information and Foreign Investment Agency (PAIiIZ). Polish entrepreneurs looking for new business opportunities in India also took part in the Mumbai conference entitled “Enhancing Trade Cooperation between India and Poland”. “The Polish government attaches great importance to the development of both political and business relations between Poland and India; we see an opportunity for new business as well as for the growth of entrepreneurship and cooperation,” said Pietrewicz during the conference. According to the deputy Minister, Polish capital investment in India is extremely important. “We will endeavour to create an import-export bank, a fact that has already been announced by Polish Minister Janusz Piechociński. The Polish government together with the Ambassador of Poland in India are also making efforts for direct flights from Warsaw to India to commence,” he added. Pietrewicz also emphasised that there are many opportunities to support foreign investors in Poland. The vice-president of PAIiIZ Monika Piątkowska stressed that a strong representation of Polish companies came to Mumbai. “These companies operate in the construction sector, furniture, machinery, cosmetics and food industries. I know that they are all willing to cooperate with Indian companies,” she said. As Piątkowska emphasised, both economies are developing at a rapid place, and this is an opportunity for deeper cooperation. “One of Poland’s greatest advantages is its human capital. Polish society is relatively young… Poles are innovative, open-minded, creative and hard-working,” she said. Piątkowska also added that Poland has a strong economic base, a strong banking system and a stable political situation, which creates a good environment for foreign investors. She said that among the foreign investors in Poland there are companies from India. “India is sixth among the countries with the greatest number of investments provided by PAIiIZ. We are currently working on seven projects from India,” noted Piątkowska. Also the president of the All India Association of Industries and the deputy chairman of World Trade Center Mumbai, Vijay Kalantri argued that India and Poland have a great opportunity for more advanced economic cooperation. He mentioned sectors such as mining, food processing, engineering and the automotive industry. “In Poland there are special economic zones which can be used by Indian companies as a gateway to other European markets. Indian manufacturing, engineering and textile companies to name but a few could invest in Poland, and from there collaborate with other European countries because Poland is a part of the European Union,” said Vijay Kalantri. In 2013 Polish trade flow with India amounted to almost $2bn and was 3% than in 2012. Exports to India amounted nearly to $0.5bn while imports reached approximately $1.5bn.

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