News Karnataka
Wednesday, December 07 2022
Business

Karnataka to foster economic ties with Polish region

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Bengaluru: Karnataka signed an agreement to foster economic ties with Wielkopolska region in Poland, Industries Minister R.V. Deshpande has said.
“The agreement will catalyse in forging business opportunities and establishing flourishing business relations between our regions,” said Deshpande on Wednesday on the occasion at Poznan in Poland.

Recalling his meeting with Wielkopolska delegation in Mumbai last November, Deshpande said leading Polish firm Ekolog chose Bengaluru to set up a clean energy technology plant with $50-million investment under the ‘Make in India’ programme.

“I am informed that Poland is interested in ‘Make in India’ and has initiated ‘Go India’ which helps Polish firms to look towards us for investments,” noted Deshpande.

Lauding the progress Poland made in the post-war period, especially over the last two decades, the minister said Indo-Polish trade had been thriving, with India exporting commodities, textiles, drugs, machinery and auto parts and importing artificial resins, non-ferrous metals and machine tools from the Eastern European nation.

“Indian software majors like Wipro and TCS have their presence in Poland. India has signed high value arms deals with your country for supply of air defence missiles, armoured recovery vehicles and tank upgrades,” Deshpande told Poznan international trade fair deputy Chief Executive Tomasz Kobierski and Wielkopolska board member Leszek Wojtasiak on the occasion.

Noting that Poland was the second highest FDI (Foreign Direct Investment) contributor from the Central European nations to India, as evident from $620 million over 15 years from 2000-2015, the minister said India had, however, invested $3 billion in Poland during the same period.

“Several Indian firms, including Reliance, Ranbaxy, Videocon, Zensar Technologies and KPIT Cummins have invested in Poland, while Polish firms like Can-Pack Poland, Inglot, Geo Fysika have presence in our country,” asserted Deshpande.

Reiterating that huge opportunity was present in IT, solid waste management, clean technologies and renewable energy, the minister told Polish stakeholders to explore potential areas for collaborations and investments in the state.

“As Bengaluru is the world’s second largest IT cluster and leading start-up hub,Aour state has a good industrial and technology based ecosystem, which attracted global firms to set up their R&D and innovation centres in this tech hub.

Indian Ambassador to Poland Ajay Bisaria was also present on the occasion.

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