Irish look to India

AN IRISH Exporters’ Association (IEA) trade mission of 40 firms travelled to Mumbai in India last week for a multisector business mission, which the organisation hopes will open up this huge but relatively under-explored market for Irish exports.

“There are huge opportunities in India for Irish exporters, and also opportunities to help Indian companies access the European Union,” said Colin Lawlor, chairman of the IEA’s Asia trade forum, who led the trade mission.

Over the three-day mission, the delegation met 70 Indian firms. In 2011, exports to India were valued at €767 million approximately – split between €217 million in goods exports and €550 million in services exports. To put this in context, Ireland exports more to the Czech Republic.

The trade mission this week is one small step in trying to reverse the trend and taking advantage of the vast and rapidly growing Indian market, said Lawlor.

Among the firms on the mission who signed deals were Intact Software and Athlone-based Woodfit, which provides acoustic panelling for concert halls.

The mission was supported by Grant Thornton, William Fry, Ulster Bank, Etihad Airways and Enterprise Ireland.

“Trade and investment relationships between Ireland and India have been growing very sluggishly in recent years. We’re significantly less heard of over here,” said Lawlor.

“We in Ireland have not perhaps put sufficient effort into visiting the market and, as a consequence, our exports to the market have not flourished.”

The delegation met Irish Ambassador to India Feilim McLaughlin as well as Enterprise Ireland’s manager in India, Pat O’Riordan, and Tanaz Buhariwalla of the IDA office in India.

The next step will be for the Indian partner companies to come to Ireland next year.