'Tremendous potential for doing business with Poland'

Mumbai, May 27 (UNI) Continuing, stable and fast economic growth from hyperinflation to hard, convertible currency and continuation of market-oriented policy, regardless of political changes, is the key factor for doing business with Poland said Consul General of Poland Marek Moron here.

Addressing a seminar on ''India Poland Investment and Trade Potential'' organized by the All India Association of Industries (AIAI) in association with Indo Polish Chamber of Commerce&Industry (IPCCI) and Consulate General of Poland in Mumbai, Mr Moron said highly productive, well motivated, highly skilled labour force and membership of European Union has further accelerated the growth of doing business in Poland.

In the year 2004, Mr Moron said,, the trade between India and Poland was only USD 314 mn which is now USD 560 mn and could further accelerate in time to come, in view of the growing interest of Poland in India and vice versa.

Mr Jerzy Midak, Consul for Trade and Promotion Affairs, said that Polish market of 38.2 million located in Central Europe and Poland located in heart of Europe is a very good bridging position for goods manufactured in Poland both to EU and the Eastern markets. The FDI investment as well as joint ventures are growing day by day.

Poland is rich in mineral resources such as hard and brown coal, copper, sulphur, zinc lead silver and food processing industry.

Mr Anirudh Dhoot, Managing Director of EKL Appliances Ltd/Videocon Ltd which has established business in Poland, said their group is looking forward to further their investments in Poland and are comfortable working in Poland and the group has diversification plans.

Mr Vijay G Kalantri, President, All India Association of Industries (AIAI) and Indo Polish Chamber of Commerce&Industry (IPCCI) in his welcome address said that more than 15 companies established in India have started their offices in Poland such as Videocon, Reliance, TCS, Strides, Ranbaxy, Mittal and many others due to the tremendous opportunities in Poland which could be a warehousing hub as a gateway to Europe and East European countries.

There are tremendous opportunities of export in textiles, fabrics and garments, chemicals, agricultural products, and engineering spare parts from India to Poland besides importing mechanical machinery and equipment, necessary instruments base metal and base metal products.

Mr Arijit Saraswati, Chief Manager, said that EXIM Bank of India is giving long and short term credit to Indian businessmen interested in making investments and promoting exports in Poland and other European Countries.

UNI SN MAZ AG1857