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by Rajen Kumar

No Escaping Social Media

Running a magazine concentrating on issues of small and medium enterprises and managing with limited resources is a like living life on the edge. In this rush of meeting deadlines,...

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Apr 2012

EMRC, Brussels Associates with SME WORLD as its New Media Partner

EMRC has promoted business partnerships with the developing world and has organised dozens of business forums in key decision-making cities, such as Amsterdam, Rome,...

SME Worldwide

Presence in EU is Mandatory to Become a Global Player

Rishi Sonwal
Aug 2010

Ensure your presence in European countries if you want to be a global player. European Union is world's largest economy in terms of purchasing power parity and provides the best of infrastructure and trade opportunities for the companies looking to expand their domain across the globe.

Investment has become biggest dimension in overseas trade tide. Outsourcing has become synonym of globlisation. Investment is a key driver on growth perspective.

These views were expressed by H E Ambassador Daniele Smadja, Head of Delegation of the European Union to India. Smadja participated in a roundtable conference on 'Investing in the European Union – way forward for Indian Companies' jointly organized by FICCI and Grant Thornton in New Delhi recently.

A book 'Investing in the European Union – a comprehensive guide for mid-market companies' was also released on the occasion.

Smadja also highlighted the importance of India in world trade. She said India is playing major role in attracting foreign direct investment (FDI) and it has remained in top ten countries in 2009 to have the highest FDI. In 2009, India received the FDI of USD 34.6 billion, while the outward FDI was USD 14.9 billion. It is also projected to attract the highest investment for the year 2011-12. Telecom is the sector which has the potential to attract the maximum FDI along with other sectors like auto, pharma, life sciences, etc.

“Not only attracting investment, the outward flow of FDI from India has also been significant. Brazil, China, etc. have become major destinations where Indian companies are registering their presence. More and more Indian companies are now acquiring the foreign companies. Tata's deal with Corus, Tata Motor's acquisition of Jaguar and Land Rover and Arcelor's acquisition by Mittal are some of the file examples,” she added.

India and European Union

Smadja said European Union is the biggest investor in India and also provides the biggest outlet for Indian investments. She also appreciated the Indian government's efforts to open up economy to be FDI-friendly and also to simplifying FDI procedures.

She said concluding the FTA negotiations will send a clear signal of engagement on both sides. “It would boost both trade and investment between the EU and India. We need to seize this opportunity. This is a once in a life time opportunity for both of us,” she emphasized.

Role of trade with India in the coming years is going to become crucial for all the countries. Today every country is looking up to trade with India. India is the fifth largest economy in the world (ranking above France, Italy, the United Kingdom, and Russia) and has the third largest GDP in the entire continent of Asia. It is also the second largest among emerging nations based on purchasing power parity. India is also one of the few markets in the world which offers high prospects for growth and earning potential in practically all areas of business. Indian economy is a vibrant and giant economy with 8-10% annual growth.

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