Poland Invites Two-Way Flow of Joint Ventures, Foreign Investment and Knowledge Sharing with India

“Indo-Polish relationship has been characterized by goodwill and cooperation. Poland seeks to deepen economic and trade ties through two-way flow of joint ventures, foreign direct investments and sharing of knowledge and technical know-how”, said Mr. J.J. Singh, President, Indo Polish Chamber of Commerce and Industry, Poland during an interactive meeting organized by MVIRDC World Trade Centre (WTC) and All India Association of Industries (AIAI).

Recognizing potential for Polish companies in the mining sector of India Mr. Singh said the sector is in its infant stages of development. The sector lacks technical knowledge and access to capital. The Polish companies may invest in the sector which will bring about its technological upgradation. However, Mr. Singh marked the need for transparency in mining norms.

Pharmaceuticals, textiles and apparels, food processing, information technology, automobiles and engineering were identified as other areas of mutually beneficial cooperation between the nations.

Mr. Singh enlightened the audience about “Made in India Expo” to be hosted in Lodz during September, 2014. The exhibition is to witness participation from nearly 50 Indian companies. The Government of Lodz has extended support and cooperation towards the Expo.

Earlier, in his welcome remarks Mr. Vijay Kalantri, President, All India Association of Industries and Vice-Chairman, MVIRDC World Trade Centre said the bilateral trade between India and Poland stands at US$ 1.905 billion with Indian exports worth USD 1.240 billion and Indian imports worth USD 0.665 bn. Indian exports to Poland include cotton, textiles, chemical products, electromechanical appliances, vehicles, air ships and vessels. Major exports from Poland are electromechanical appliances, mineral products, chemical products, etc.

Indian companies such as Arcelor Mittal, Videocon, Escorts, Strides Arcolab, Reliance Industries, Ranbaxy, Essel Propack, KPIT Cummins, Zensar Technologies Ltd, Infosys and Wipro, Jindal Stainless Steel, Berger Paints India, UFLEX Glenmark Pharmaceuticals, Flemingo Duty Free, Rishabh Instruments have established presence in Poland. The few Polish companies that operate in India include Torunskie Zaklady Materialow Opatrunkowych in Dindigul, Can-Pack Poland in Aurangabad, Inglot and Geofyzika. We invite Polish companies to invest in the rapidly progressing Indian economy, Mr. Kalantri added.

From (L-R):  Ms. Tripti Chakravorty, Assistant Director- Trade Research & International Trade Promotion, MVIRDC World Trade Centre, Ms. Queenie Nair, Director , All India Association of Industries,  Mr. J .J. Singh, President of Indo-Polish Chamber of Commerce and Industry, Poland , Ms. Joanna Mazurkiewicz, Office Director, Indo-Polish Chamber of Commerce and Industry, Poland, Mr. Adam Bisek, India and Russia Center, Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Centre and President, All India Association of Industries, Ms. Qanita Khan, Assistant Director – Trade Promotion, MVIRDC World Trade Centre, Ms. Shraddha Umarji, Deputy Director – Research, MVIRDC World Trade Centre during an interactive meeting with of Indo-Polish Chamber of Commerce and Industry, Poland  organized by MVIRDC World Trade Centre (WTC) and All India Association of Industries (AIAI).