The Council of EU Chambers of Commerce in India organized a Seminar on “Unlocking Gujarat and European Union”, on the sidelines of 10^th Vibrant Gujarat Global Summit on 11^th January 2024 at Gandhinagar, Gujarat.

Dr. Renu Shome, Director, The Council of EU Chambers of Commerce in India welcomed H. E Ms. Mateja Vodeb Ghosh, Ambassador, Embassy of Slovenia to India and other esteemed speakers Mr. Peeyush Kaushik, President, The Council of EU Chambers of Commerce in India, & Vice President- Business Leader and Head of Healthcare Innovation Center, Philips India Ltd., Mr. K V Bala, Chairman, Indus Finance Ltd., Dr. Judyta Latymowicz, Representative, ASE Technology Group, KAN- therm PVT LTD, Mr. Amitabh Anand, Managing Director, LISEGA India Pvt. Ltd., Mr. Siladitya Sarangi, Country Manager, Deoleo India Pvt Ltd. Mr. S. Venkatesh, Managing Director, Eltete India Transport Packaging Company Pvt. Ltd. and moderated by Mr. Robin Banerjee, Vice President, The Council of EU Chambers of Commerce in India, & Chairman, Nucleon Research Pvt. Ltd.

Dr Shome gave insights about the Chambers objectives, vision, Formation, services, international & national Partners, Torchbearers, Governing board 2023-24, sector committees and memberships.

Ms. Mateja Vodeb Ghosh, Ambassador, Embassy of Slovenia to India emphasized on the growing trade between Slovenia and India over the past 3 years. She highlighted that India is the second most important trade partner in Asia. She said establishment of Federation of European Business in India (FEBI) and cooperation with them would bring benefits. She emphasized on possibilities of cooperating between Slovenia & India, Slovenia’ interest in India would be in industry 4.0 especially Robotics, Green Hydrogen & Renewables, Smart Infrastructure, Tourism & Hospitality, logistics and supply chain, Automobile Components, Chemical sectors, space collaboration, medical devices and pharmaceuticals, environment technologies. She talked about the presence Slovenia has in India, its Ultralight planes to army for training, electrical airplanes, smart electrical meters, automobile components. She also talked about the recent opened Capex unit in Pune which is producing different kind of cables. She mentioned when it comes to India in Slovenia, India has big advantage in Digitalization [Cyber security, Digital Payments, Telemedicine, Information Technology (IT)], Tourism especially hospitality, investment in Hotels, Student Exchange (Engineering Students). Ghosh talked about the future cooperation in the Green Hydrogen & possibilities of partnership between Japan, Slovenia, Germany and India.

 

She emphasized that Slovenia follows high added value products investment preferably with Research and Development (R&D) component in it, and opportunities given through the EU program, Horizon Europe especially when it comes to research & Innovation.

 

Ghosh emphasized on how can we accelerate this cooperation is as Foreign Trade Agreement (FTA) and Investment Agreement are under negotiations and conclusion of this negotiations would bring benefits to both side. She highlight the successful model is when Slovenia company offers Know-how Technology niche products and on the other side they come to India, they have a production & scale up the manufacturing or services and finance. She also mentioned visits of business delegation of attending conference increases business to business contact would definitely help.

The inaugural session was followed by panel discussion, moderated by Mr. Robin Banerjee, Chairman, Nucleon Research Pvt. Ltd.

 

The gathering witnessed an enriching and engaging panel discussion.

 

Mr. Robin Banerjee, Chairman, Nucleon Research Pvt. Ltd. Banerjee magnificently gave insights through statistics as to how large is Gujarat in terms of India & how large is European Union in terms of the World; Gujarat has 5% of India’s population, EU has 5% of global population. Gujarat has 6% of India’s territory, EU has 7% of global Territory. Gujarat has 17% of India’s GDP, EU is 19% of global GDP. Gujarat is 1/5^th of India & EU is 1/5^th of the World. Gujarat exports 20% of India’s export & EU exports 18% or 19% of global export. Gujarat handles 40% of India’s sea trade, EU handles 25% of trade in terms of port handling facilities. He mentioned Gujarat and EU unlocking in terms of global & Gujarat in terms of India is more or less similar and therefore we should unlock each other.

Mr. Amitabh Anand, Managing Director, LISEGA India Pvt. Ltd. Anand describes about his experience of investing for manufacturing unit in Gujarat, 12 years ago on the invite of Gujarat Industrial Development Cooperation (GIDC). He mentioned about the execution of single window clearance system for clearance and certification, land Acquisition business model with the Gujarat government, which was completed within the span of 9 months.

He emphasized on the needs from Gujarat is for Gujarat Industrial Development Corporation (GIDC) to establish world-class facilities. This involves creating state-of-the-art infrastructure, implementing plug-and-play solutions, and maintaining high standards to attract both domestic and international businesses. Upgrade GIDC facilities for a more competitive and attractive industrial environment.

Dr. Judyta Latymowicz, Representative, ASE Technology Group, KAN- therm PVT LTD. Latymowicz mentioned about the experience of Poland companies in manufacturing sector, automobile sector, engineering sector in Gujarat. She highlighted Gujarat is focusing on the same key areas as Polish companies are in green energy sector, professional technical advisory regarding offshore power engineering next to port infrastructure engineering and are about to set up new entity probably in Gujarat. She said Polish companies could be great partners in the journey of Gujarat being said to be the Gateway of the future.

Latymowicz emphasized on incorporating tax incentives that promote the integration of foreign technology into the service business. She highlighted the significance of the service industry in leveraging foreign technology for economic growth and job creation.

 

Mr. Siladitya Sarangi, Country Manager, Deoleo India Pvt Ltd. thanked Dr. Renu Shome for organizing the session. Sarangi highlighted Gujarat has helped them to scale  from 15% to 70% in manufacturing and bottling operations in India which resulted in cheaper cost, better quality and being faster to market.

Sarangi proposed the examination of Preferential Trade Agreements (PTA) over Free Trade Agreements (FTA). PTAs can offer targeted benefits, allowing for more flexibility and strategic advantages in trade partnerships. He emphasized on need of efficiency in getting Intellectual Property Rights (IPC).

 

Mr. Peeyush Kaushik, President, The Council of EU Chambers of Commerce in India &  Vice President- Business Leader & Head of Healthcare Innovation Center. Philips India Ltd. highlighted about the recent signing of MOUs with 45 companies from Netherland in Gujarat. He mentioned about government support regarding finding the talent, setting up the manufacturing infrastructure for Philips in Gujarat.

Kaushik underlined to engage with policymakers to promote the idea of extending Production Linked Incentives (PLI) to the service industry, aligning incentives with technology adoption, job creation, and contributions to the national economy. He also emphasize the sector’s role in skill development, innovation, and overall competitiveness.  He also highlighted the importance of fostering Research and Development (R&D) and manufacturing sectors. Encourage policies that support innovation, technological advancement, and the growth of manufacturing industries, contributing to economic diversification.

 

Mr. K V Bala, Chairman, Indus Finance Ltd. Bala gave insight on how passionate was he to become an investment banker & how he got attracted to renewable energy, artificial intelligence, emerging technology. He talked about the evolution and changes in market. He also mentioned the similarities between Gujarat and European Union in terms of how fulfilling and rewarding it was on working both sides.

Bala mentioned the need for ease in visa restrictions for businesses between country. He underline the need for government to do more for R&D innovation by giving capital or grants or may be more tax benefits.

Mr. S. Venkatesh, Managing Director, Eltete India Transport Packaging Company Pvt. Ltd. Venkatesh gave insights on how he ended up in setting up of Unit in Gujarat. He gave understanding of his company’s experience and excellence in packaging, fabrication, designs. Venkatesh also mentioned about the new technology paper techno, an eco-friendly packaging material. He underscore that the company is focused on manufacturing of machines and product to all industries and looking forward to explore possibilities in Gujarat. He highlighted that he don’t find any limitations in Gujarat for business.

Subsequently, the seminar was concluded with further Question & Answer session.

 

Ms. Mateja Vodeb Ghosh, Ambassador, Embassy of Slovenia to India. Ghosh said considering todays topic this panel was a step in that direction and contributed one stone to the big mosaic between India and European Union.

 

Mr. Robin Banerjee, Chairman, Nucleon Research Pvt. Ltd. concluded the seminar by stating Economics magazine says that by 2030, India will become the third largest country in the world. By 2050, India is going to surpass European Union and by 2075, India is going to surpass USAs GDP. The assumption behind that is in next 10 years, India will grow at 5.6% per annum. Next 10 years after that, India will grow at 4.8% per annum. And if you believe 5.6% & 4.8% can be done this quarter. In fact, last quarter it was 6.7% they said it’s going to be 7% as per World Bank estimates, India will achieve these. That’s the opportunity which is holding for India & therefore the business between European Union is going to be seeing a new dimension, whether the government of India and the European Union government are struggling with FTA, but it is going to be signed. The fact of the matter is both the government are serious. He thinks it’s because of the elections that it’s all now stalled, but once government and leadership takes over things will work very well.

He thanked the guest of honor, esteemed speakers & participants to be part of the seminar. He also thanked The Council of EU Chambers of Commerce in India for organizing this fascinating seminar.

 

 

 

KEY POINTS FROM PANEL DISCUSSION

‘UNLOCKING GUJARAT AND EUROPEAN UNION

 

1. GIDC World-Class Facilities

Emphasized on the need for Gujarat Industrial Development Corporation (GIDC) to establish world-class facilities. This involves creating state-of-the-art infrastructure, implementing plug-and-play solutions, and maintaining high standards to attract both domestic and international businesses.

Upgrade GIDC facilities for a more competitive and attractive industrial environment.

 

2. IT Incentives for Service Business with Foreign Technology and Investment:

Consider incorporating tax incentives that promote the integration of foreign technology into the service business. Highlighted the significance of the service industry in leveraging foreign technology for economic growth and job creation. Emphasize the sector’s role in skill development, innovation, and overall competitiveness. Engage with policymakers to promote the idea of extending Production Linked Incentives (PLI) to the service industry, aligning incentives with technology adoption, job creation, and contributions to the national economy.

 

3. Preferential Trade Agreement (PTA) Instead of Free Trade Agreement (FTA):

Proposed the examination of Preferential Trade Agreements (PTA) over Free Trade Agreements (FTA). PTAs can offer targeted benefits, allowing for more flexibility and strategic advantages in trade partnerships.

 

4. Encouraging R&D and Manufacturing:

Highlighted the importance of fostering both Research and Development (R&D) and manufacturing sectors. Encourage policies that support innovation, technological advancement, and the growth of manufacturing industries, contributing to economic diversification.

 

5. Upgrading Labor Skills for Technological Industries:

Advocated for the initiatives to upgrade labor skills, particularly in technology-oriented industries. Focus on preparing the workforce for roles in factories utilizing imported technology, ensuring a skilled labor pool to meet the demands of evolving industries.