Poland sees trade with India reaching USD 4 bn by 2020

Saturday, Oct 31, 2015,11:36 IST By Metrovaartha A A A

Mumbai | Poland expects its trade volume with India to grow to USD 4 billion by 2020 from USD 2 billion now and wants its companies to expand collaboration with local companies in a host of sectors. Polish Ambassador to India Tomasz Lukaszuk today said companies from his country are keen to collaborate with domestic firms in sectors like IT, coal, food processing, power, petrochemicals, defence, science and technology.

Our bilateral trade today stands at USD 2 billion and we are hopeful of doubling the same to USD 4 billion in the next five-year period. We have identified sectors like IT/ICT, coal, food processing, power and energy, petrochemicals, chemicals, defence, science and technology, which have high potential for cooperation, Lukaszuk said.
The envoy was here for a meeting with a high-level business delegation from Poland organised by All India Association of Industries (AIAI). Lukaszuk said Poland is especially keen on cooperation with Indian IT firms, which have made a name for themselves in providing software services.
Leading domestic IT firms like Wipro, Infosys and HCL already have a presence in the eastern European country. India is perceived in Poland as one of the most important non-European economic partners.
Poland is already India’s largest trading partner in Central Europe, with trade between them witnessing an encouraging trend in recent years, the Ambassador said. He pointed out that Poland imports more than what it exports to India and the trade deficit is increasing.
India exports cotton, textiles, chemical products, vehicles and vessels, while imports electromechanical appliances, mineral and chemical products, among other items.
India is an economic leader and a promising place for the Polish exporter and investors, Lukaszuk said. The envoy said his country wants to expand and deepen economic ties with India and become part of ‘Make in India’ mission that focuses on making Asia’s third-largest economy a global manufacturing base.