Monday, September 03 10:58:40
The Irish Exporters Association (IEA) trade mission of 40 companies set out today for Mumbai in India for a multi sector business mission which will run throughout the week.
Colin Lawlor, chairman of the IEA's Asia Trade Forum, who is leading the trade mission said India is a significant target for Irish companies.
"It is impossible to ignore India's rise on the global stage, and the business opportunities it presents for Irish companies. However, trade and investment relationships between Ireland and India have been growing very sluggishly in recent years. We in Ireland have not perhaps put sufficient effort into visiting the market, and as a consequence our exports to the market have not flourished," he said.
In 2011 exports of goods and services was E767million approximately E217 million goods exports and E550 million services exports. To put this in context we export more to the Czech Republic. "The Trade mission this week is one small step in trying to reverse the trend and taking advantage of the vast and rapidly growing Indian Market."
"Indian businesses have been investing extensively internationally, but very little of this FDI has come to Ireland. We are convinced that if we can use this trade mission to find innovative partnerships that investment will follow and with it more rapid trade growth," he added.
This trade mission to India is a private sector initiative, with support from Grant Thornton, William Fry , Ulster bank, Etihad Airways and Enterprise Ireland.
The Irish Ambassador to India, H.E.Felim Mc Laughlin will officially open the seminar sessions in Mumbai, which will also be address by the Enterprise Ireland manager in India Mr Pat O Riordan, and Ms Tanaz Bhuraiwalla, who manages the Industrial Development Authority (IDA) office in India.