The Union Minister of Commerce and Industry Shri Anand Sharma, while delivering the opening session of the Global India Business Meet at Belfast yesterday said that he “remains optimistic that the emerging idea of India will infuse similar confidence to other countries to partner with India. I also invite investors and businesses to invest in India and assure them of long term benefits from engaging with India.” The Global India Business Meet is organized by Horasis along with Northern Ireland (NI) Government and Belfast City Council.

Speaking during the opening session, Shri Sharma outlined the current global economic environment and said that while last year has been difficult for the Indian economy, he hopes a rebound in the Indian economic scenario this year. He also outlined the initiatives taken by the Government of India for further improving the investment attractiveness of India including National Manufacturing Policy for giving a boost to manufacturing, reforms in FDI and the ambitious skills upgradation programme.

Highlighting the strong business ties between India and North Ireland, Shri Sharma said that over thirty North Ireland companies have commercial operations in India. “Indian IT companies like Wipro, Tech Mahindra, L&T Infotech, HCL and Polaris are significant contributors to inward investments and employment in N Ireland,” he added. He also focused on the fact that North Ireland is a leading supplier of diagnostic kits to India. “A plant for local manufacturing is being established in Bangalore, making life science and health care an ideal sector for forging joint ventures,” said Shri Sharma. “With North Ireland known for its development of telecom payment software and software for DTH set top boxes in India, collaborative arrangements in IP and cyber security are the areas of interest between the two nations,” stressed Shri Sharma.

Ms. Arlene Foster, Minister for Enterprise, Trade and Investment of NI Government, and Lord Mayor of city of Belfast Councillor Máirtín Ó Muilleoir were also present during the opening session. They addressed a gathering of about 300 businesspersons from NI, UK and Indian business delegates. Ms. Naina Lal Kidwai, led the FICCI delegation from India to GIBM.

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(Release ID :96716)

Foreign investment invitation encourages bilateral industry partnerships and sectoral collaboration between India and Northern Ireland. India extends a foreign investment invitation to Northern Ireland, promoting long term commercial partnerships supported by the National Manufacturing Policy, FDI reforms and a skills upgradation programme. The release emphasizes sectoral collaboration in life sciences and healthcare (including local diagnostic kit manufacturing), IT and telecom payment software, DTH set top box software, and IP and cyber security, noting existing commercial ties and over thirty Northern Ireland companies operating in India as foundations for joint ventures and local manufacturing.