Europe looking at Indian mkts for further growth (The Financial Express: September 16, 2009)
Datum: 18-09-2009
Actueel >>

Chennai: If it was “focus China” in 2006, it is time now for the European companies to shift their focus towards India to not only overcome the current crisis but to exploit it for their future growth, said Moselle Development Council vice-president Claude Bitte, which is part of France and connecting Germany, Northern Italy, France, Belgium.

There is no growth in the European markets and the companies in the region are seriously looking out Asian markets for future growth. Given the huge opportunities particularly in the infrastructure and transportation sectors in India, European companies have shifted their focus towards India and seek to play a major role in the Indian market, he said.

Towards this move, France will be conducting a three-day exclusive business (B2B) event on Euro India Transport Systems (EITS), the first ever and largest one to be held at Moselle (eastern France). Over 1,200 companies from European countries and 300 companies from India are expected to attend the event to explore business opportunities in the areas such as automotive, aeronautics and aerospace, rail, truck/bus, ship building, transport and logistics industries.

Companies such as Airbus, Bombardier, Alsthom, Corus Rail (Tata Group Co), ArcelorMittal among global majors and a host of SMEs are looking at Indian partners to explore markets in a big way. These companies seek to either set up manufacturing plants on their own or joint ventures apart from looking at outsourcing components, products and parts and giving sub-contracting jobs to Indian companies, said Bitte.

EITS is the largest event dedicated to the transportation industry, being organised by Moselle General Council in associations with respective governments. The event is purely business oriented and will have pre-arranged, one-to-one business meetings with Indian and European companies. Till date, over 600 European and 200 Indian companies have already signed up for the event which will provide a conducive business atmosphere among the participating companies, said Philippe Leclerc of Proximum, the event management company.

Companies such as tyre major Michelin and Cryolor Air Liquid have proposals to set up plants in Chennai with huge investments. There are number of companies including Airbus, Bombardier and Alsthom have proposals to either directly enter the country or roping in local partners to jointly manufacture components for aircraft, rail etc, he said. “Not only they want to do business in India for the market but also exporting to neighbouring countries making India as hub,” he said.

Transportation holds major share out of the euro 70 billion bilateral trade between India and European countries, which is expected to touch euro 160 billion by 2015, he said further. This event will provide a fillip to the growing demand for transportation network in India, he added.

Laatste wijziging: 12-04-2011 at 14:15