Launch of the ‘European Union – India Investment Facilitation Desk’

NEW DELHI, 1 November 2006 – ‘European Commission’s economic cooperation with India is laying emphasis on fostering trade and investment between the two regions. “This is in line with the approach being adopted by India for the 11th Five Year Plan of faster and inclusive growth”, said Mr. Etienne Claeye, Head of Operations, Delegation of the European Commission to India, Bhutan and Nepal, while addressing participants in an interactive workshop organized by EU-India Trade and Investment Development Programme (TIDP), today in New Delhi. In order to facilitate greater investment flows from the European Union to India, Investment Facilitation Desks (IFDs) have been established at Delhi, Mumbai, Kolkata and Chennai, to serve as a one-point contact for European businesses desiring to enter India. PricewaterhouseCoopers has been appointed by the European Commission as consultants for establishment of the IFDs.

Earlier, welcoming the participants, Dr. D. Kebschull, Chief Programme Coordinator, TIDP, said that EU investments in India would be mutually beneficial. While India will be able to generate more jobs and get modern technology, the European Union will be greatly helped in their process of structural adjustment. Indian production centres of EU investors, as FDI or joint ventures, could cater to not only the domestic market but also other countries of the region.

Mr. Amrit Pandurangi, Executive Director, PricewaterhouseCoopers , introducing Investment Facilitation Desks to the participants said, “The EU investors must be fully aware of the advantages and difficulties in investing in India. The endeavour of the IFDs would be to assist the EU investors in identifying projects of interest and facilitating them through the approval process of FDIs/JVs. IFDs would be able to establish their unique position among a host of agencies assisting foreign investors in India”. The Investment Facilitation Desk, are to serve as a one-stop-shop for information and assistance to European companies planning to invest in India. Besides providing relevant information to all intending investors, the IFDs will also try to assist in directing them to specialized agencies wherever specialized services are required. “The focus of the IFDs would be to facilitate inbound investment and partnerships between SMEs (all enterprises other than the large multinationals) from EU member and Indian companies”, added Amrit Pandurangi.

Detailed presentations were thereafter made about investment opportunities in the leather, auto components, IT and ITES and food processing sectors. Mr. A. Sahasranaman of TIDP highlighted the enormous opportunities in the leather sector, particularly for countries of the EU such as Italy, France and Spain while Mr. AK Taneja of Auto Components Manufacturers Association gave a lucid presentation on the scope for FDIs and JVs in the auto component sector. Mr. Tushar Pandey spoke about the various aspects of food processing and agricultural sector. Dr. Sunil Agarwal informed the participants of the role played by Software Technology Parks of India.

The workshop was attended by representatives of the commercial divisions of EU member countries and industry representatives. The European Commission was represented by Mr. Carlos Bermejo Acosta, Head of Trade Section, Ms. Daniela Tramacere, Head of Economic Cooperation Section and Mr. Andy Benfield, Project Manager of TIDP.

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