In Mumbai stays Polish economic mission, chaired by Deputy Prime Minister, Minister for Culture, Professor Piotr Glinski.
Deputy Prime Minister met yesterday among other things, the prime minister Narendra Modim, and today we will talk with the ministers of the constitutional government of India. Accompanied by a group of several dozen companies.
Deputy Minister Radosław development Domagalski noted that during the meeting with Prime Minister Modim raised very important for our business themes. For example, the issue of payments between Polish and Indian banks. This is a problem General, which causes a blockade of intercompany transactions, increased costs.
will be simplified procedures between banks of the two countries
─ It seems to us that it is understanding on the part of our Indian partners that it is a priority issue. We received assurance that the Indian side will try to simplify these procedures, “- said Domagalski.
We are seeking that the Bank Gospodarstwa Krajowego was included in the special recommended list. Head BGK Dariusz Kacprzyk estimates that thanks to the attractiveness of the Polish exports could essentially increase. it supplements the provisions of the Indian are very restrictive when it comes to the possibility of incurring liabilities by entrepreneurs from India in foreign financial institutions.
─ at a time when we will be recognized as a bank, we recognized lender for them. we will be able to offer financing accompanying trade – he stressed. Polish goods may then be paid for with a certain postponement.
─ We will pay the Polish exporter, here and now, and the Indian side will be more attractive, because it can for purchased in Poland, the goods or service to pay a little later – said the president of BGK.
in India liberalized regulations on large stores
He said Domagalski, recently the Indian government liberalized the rules on the formation of large stores. It is his opinion, it will revolutionize the distribution market in this Asian country. This will cause the formation of foreign distribution networks, but the condition is such that 50 per cent. production has come from the local market, “- he said.
Polish products have a chance to hit the Indian stores
He added that because Indian companies are learning all the time the supply chain, and cooperation with networks of stores will challenge for them is a good chance for Europe, the Polish, companies will locate there the production and delivery of goods to retail chains.
“All the time distribution in India is big problem in entering this market. In many industries, the share of unorganized segment is the percentage dominant factor. In some industries, even the unorganized market – like bazaars and trade on the street – even 60-70 percent. sales. Entrance retailers will change the market and create new opportunities, “- he said.
As stressed by the deputy minister, Indian investors are active.” We have a lot of investors both in the BPO sector, as well as in the IT industry. I think that our partners in India are satisfied when it comes to investment and overseas and we have them constantly to encourage “- he said.
He added that the Indian market plays an important role local intermediaries, who are importers. “It is setting up local agencies. It certainly helps to get closer to the end customer. From the perspective of Polish law and practice of business in India is a problem. It is a business culture different from ours in Europe. A whole range of barriers, but also the role of public administration is to collect information about these barriers, “- he said.
There are chances for Polish investments in India
in his view, there is also a chance for more Polish investments in India. “the Prime Minister (Narendra) Modi has announced an ambitious plan of liberalization of tax laws. It is to be unified VAT. India is a country internally very diverse, in terms of law, administrative procedures. Change for the better in terms of ease of business. It’s happening now. It is a very ambitious plan corridor Mumbai-New Delhi, it will be a very industrialized economic area. It’s also a chance for Polish companies, “- he said.
He added that the potential sectors of economic cooperation may also be the mining sector.” Back in February we will come here again with a trade mission from the mining industry and mining. This is such a introduction. We will discuss the most important issues that our entrepreneurs have to do here in India, “- he stressed.
” Consistently maintains that the Indian market is a huge opportunity for Polish companies. This is not a courtesy, but a certain logic economic development of India “- rated. He added that this is a country that is undergoing a process of rapid industrialization. “Envisaged large investment programs, which are to stimulate the economy,” – he concluded.
On Sunday in Mumbai are planned meetings with representatives of the Polish delegation to the Indian government, including the Minister of Trade and Industry, Minister of Finance and Minister coal and steel. There will also be an economic seminar.
participation in the international economic forum Make in India Week is the main purpose of the visit of the Polish delegation. the event, in addition to the Indian government led by Prime Minister Narendry Modiego, will be attended by heads of governments of other states and representatives of the business sector in India, Europe, America and Asia.
IAR, PAP, jk
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