Huge opportunities for Indian industries in Wales: Ficci

New Delhi, Nov 26 (UNI) To unlock the huge opportunity for Indian corporates to invest in Bio technology, IT, pharmaceuticals, automotive engineering and creative industry, industry body Ficci organised an interactive meeting with a business delegation from Wales, UK.

Headed by Deputy First Minister, Minister for Economy and Trasport Ieuan Wyn Jones, the delegation included representative from IT, Bio technology, creative industry, water and environment, education, medical equipments, pharmaceuticals, automotive engineering etc.

Describing Wales as the gateway to Europe, Mr Jones said that the business friendly government and a two hour distance from London is an advantage for investors.

''The total cost of urban office space in Cardiff is just 75 per cent of that in the city of London, translating into higher margins,'' Mr Jones said.

Add the fact that we have the lowest attrition rate in the whole of Europe, and companies enjoy staff turnover lower than the UK average, he added.

Both sides urged on the necessity to have increased participation on bilateral investment in sectors of mutual benefit.

Ficci's secretary general Amit Mishra said after a successful FICCI-IIFA Global Business Forum (GBF) at Leeds in June this year, a similar event will be proposed for 2009 in Wales after the event in Scotland next year.

The theme of the event will be based on cutting edge knowledge driven industry, with traditional industry such as coal, auto components etc as well, Dr Mishra added.

UNI