Transcript Indo - EU Partnership Nayan Patel

Europe meets India:
“Global Partnership in
Emerging Areas of EU – India Relations”
Nayan Patel,
President
Indian Merchants Chamber
9th. November 2006
Introduction
• 2006 marks 43 years of formal EU-India
relations
• India and many countries of the EU have
shared strong historical, trade and
economic relations
• Comprehensive Economic Cooperation
Agreement (CECA) with the EU
Recent Events
• The EPFIN Group is in India to strengthen India
EU Partnership
• The 7th. India-EU Summit in Helsinki
• EU is India’s largest trading partner
• EU is also the leading investor in India and a
major destination for Indian investors
• UK is now the third biggest investor in India
• India is the second largest foreign investor in
the UK
INDIA CALLING 2006 –
Leveraging the India – UK Business Relationship - London
Recent Events
Prince Andrew
The Duke of York
 Described India as a better investment destination for
British companies than China .
 India had an advantage for British investors because
of the common language, the existence of rule of law
and democracy
 People should not be afraid of outsourcing: they
should embrace it.
 Technology, education and values of Indian BPOs
contributed to the success of British Companies
Recent Events
Guy Verhofstadt
Prime Minister of Belgium
India an upcoming economic & political power
Two pronged agenda - Political & Economic
Belgium – gateway to European Markets
Knowledge Based Services, Logistics, Infrastructure
& Aeronautics
India & Belgium signed bilateral social security
agreement on 2nd. November 2006
What India is looking for?
• Better recognition of
Certification for Degrees
• Free mobility for Service
Providers
• Jobs for rising pool of
Technologists
What the EU wants?
• Greater access to Industrial
Goods
• Reduction in Import Duties
• Liberalization of Financial
Sector
To bridge this Gap
 High level group on trade, co-chaired by
Indian Commerce Secretary and his EU
counterpart to meet in December on the
Trade & Investment Agreement
 London Stock Exchange (LSE) wooing
Indian companies
India’s Growth Stories
• India retains a robust growth
outlook. The long tem growth
is expected to be still brighter
• India ranks 43 in Global
Competitiveness Index
Emerging Opportunities
Urban
Infrastructure &
Roads
Higher & Technical
Education
Knowledge Based
Services
Consumer & Retail
Healthcare
Oil & Gas
Finance &
Banking
Commodity Markets
Media &
Entertainment
Power
Sports
India’s Growth Stories
• Series of acquisitions by Indian
companies indicates that Indian
corporates are fast taking global
leadership position
• Indian firms have acquired 307
companies worth over $20 billion
• India is thus set to become a net FDI
exporter
India’s Demographic Dividend
• India’s population is over 1 billion, 400
million are estimated to be middle class
consumers
• India offers a young vibrant market with 54%
of the population less than 25 years of age
• Domestic consumption of goods and services
set to double over the next 10 years
• Number of households with high income
estimated to increase by 60% in next four
years to 44 million
EU’s Initiatives
• Radical strategy for energy market
• Unified VAT tax in EU – India needs to
learn
• Reduction in the cost of trading shares
between bourses in the 25 member states
• Ushering in a PAN-European Securities
Market
EU’s Initiatives
Tony Blair
Prime Minister of UK
“The country has to remain a
leader in innovations to prevent
research funds migrating to
emerging economies such as
India & China”
Concluding Remarks
• IMC interested in intensifying India-EU
interactions
• India and the EU have much to contribute
towards fostering a rule, based on
international order
• Common challenges — globalisation,
terrorism, energy security and
environment
Concluding Remarks
• Need to upscale and bridge the skill gaps
of the Indian workforce - an area where
EU could be of great help
• IMC has initiated a Value Added
Vocational Training Program
• Setting up of an EU Information Desk &
Trade Facilitation Centre under the aegis
of TIDP, sponsored by EU and Govt. of
India
IMC’s Objective
• To build a strategic business partnership
between India and the EU
• Project select countries in EU and India as
attractive investment destinations
• Encourage technical collaborations and joint
ventures
• Motivate expatriate Indians to participate in
building a powerful, modern and vibrant
India
Future
• India is changing…
• There is a ‘can do’ attitude and a
confidence that India can match the
best in the world
• All this is just a beginning in India’s
long road ahead in the 21st century
world economy…
We are working hard to evolve a new
Indian economy involving 1.1 billion
people in which the entire world has a
stake…
We invite you to join us in this exciting
journey
Thank You