Portugal seeks to enter Indian market

Portugal seeks to enter Indian market

The Portugese market is thriving in Europe and has good exports abroad, except India, a reality that Portugal officials now wish to change for mutual benefit. Portugal officials are now on a mission to reach out to Indian entrepreneurs and exporters to ensure the business and investments between both the countries reaches new landmark. The bilateral trade relations between India and Portugal are still low, said Rui. Exports from India to Portugal are 3.78 INR Billion in December from 3.35 INR Billion in November of 2014. Exports to Portugal in India averaged 1.04 INR Billion from 1991 until 2014.

“Portugese companies are keen on investing in India and World Trade Centre Mumbai can help us to bring our companies to India,” said Consul General of Portugal Rui Carvalho Baceira.

Speaking about the economy of Portugal, Rui elaborated,  “We are at quite an important point in our economy and are exploring new areas business areas. We are looking for textiles, fish, Pharma, Medical Tourism and services.” The consul General of Portugal and Joao Rodrigues, Trade and Commercial Counsellor, Embassy of Portugal in India visited officials from World Trade Centre Mumbai on October 29, 2015.

“We will be coming with five missions to India first will be technical and then commercial “Our delegation will be exploring renewable energy, auto spare parts and machinery,” said Rodrigues. “I promise Indian investors that there are big opportunities in Portugal.”

Medical research in unknown illnesses is a sector that Portugal has an expertise. “We have companies that make specialised chemo therapy machines and yes we will be looking for medical tie-ups in the near future,” said Rodrigues.

Portugese officials stated that Indian companies who have established in Portugal and got a gateway to Europe. Vijay Kalantri President, All India Association of Industries (AIA), and Vice Chairman World Trade Centre Mumbai assured the Portugese officials of support and guidance. “We feel there is synergy and mutual benefits to grow the bilateral trade between both our countries. This can be achieved with the visit of delegations between Portugal and India.”  Kalantri assured Portugal officials of guidance and support.

Rupa Naik Executive Director, AIAI and Director (Projects) WTC Mumbai presenting memento to Consul General Portugal, Rui Carvalho Baceira. Others (L-R) Vijay Kalantri, President AIAI and Vice Chairman WTC Mumbai and Joao Rodrigues, Trade and Commercial Counsellor, Embassy of Portugal in India