April 2022 \ Business & Investment \ BUSINESS AND DIPLOMATIC NEWS
Ireland strengthens bond with India

NEW DELHI: Robert Troy TD, Minister of State Trade Promotion, Digital, and Company Regulation visited India as part of this year’s St Patrick’s Day Ministerial missions. The visit played a significant role in developing trade, political, economic and commercial links between Ireland and India. It will also promote Ireland as a location to study, a source of innovative technology to support increased exports by Irish companies to India, and promote foreign direct investment into Ireland by Indian companies.

During his visit to Delhi, Troy met with key business leaders and authorities at educational institutions to support the growing economic and educational links between Ireland and India, and explore opportunities for further collaboration. Troy was accompanied by Conor Fahy, Regional Director, Middle East, Africa, India at Enterprise Ireland. Fahy said that this visit will have many positive impacts including a better understanding of the Indian business, education, and investment market. He stated that India has a lot of potential for growth while Ireland’s innovation and technological solutions can help the country further its potential. This exchange between both countries concerning education, business, investment, and culture will bring growth in both directions as Ireland will gain expert market penetration and diversification for its companies.

On sustainability and innovative technology, Fahy said, “Ireland is a green economy and we believe that it is important to put sustainability at the core of all businesses. We strongly support the Paris Agreement and our focus is to move towards achieving greener solutions. Therefore, we are investing heavily in research to find sustainable ways to manufacture and resolve supply chain issues. We are looking forward to collaborating with Indian companies which are looking for built-in solutions to bring sustainability to their operations. Hence, there is a huge opportunity for Irish companies in the Indian market.”

Many Irish organizations are already developing and providing technical assistance to Indian companies working in education, ICT, Pharma, and Aviation. Ireland is the third-largest exporter of pharmaceuticals globally and has witnessed significant growth in India over the last few years. Students are the future of any nation and their education is the foundation towards a better tomorrow. India and Ireland both align with this belief and renowned institutions partner and engage in different exchange programs. On education, Fahy said, “Ireland offers a horizon of opportunities for aspirants and has become a preferred destination for higher education. I am delighted that Minister Troy visited Delhi University and met the key-drivers of education in India as both India and Ireland are on the same mission to make world-class education accessible to all. Besides, cross-border collaborations are a revolution in the higher education industry and this partnership will not only boost India-Ireland’s bilateral relationship but also create a fine talent that will lead innovation for a sustainable tomorrow. Furthermore, as innovation holds a very important place in Ireland, we at Enterprise Ireland also encourage and support innovative ideas.” Ireland is an open economy, which provides huge room for global economies to collaborate. Minister Troy’s visit to India is a welcome step to boost Enterprise Ireland’s strategic goal of increasing Irish exports of goods and services to India from €130 million in 2020 to €250 million in 2024.

Tags: Ireland

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