Richard Bruton TD, Ireland’s Minister for Jobs,
Enterprise and Innovation, is leading a joint
delegation to India from 17th
November to 21st
November, 2013, visiting officials from key Indian companies
interested in expanding operations into the European market. As part
of the agenda, Minister Bruton will also meet Anand Sharma -
Minister of Commerce & Industry, Government of India to discuss
trade and investment links along with the inbound and outbound FDI
policy between Ireland and India.
During
the visit, the Minister announced that IDA Ireland, Ireland’s
government agency responsible for inward FDI has secured two Indian
business wins this year in the form of home-grown Bangalore based
companies- Aditi Technologies, a cloud computing technology services
company and Synowledge, a global provider of drug safety, regulatory
affairs, biometrics, clinical, and IT related solutions. By choosing
Ireland as a green field operation hub and European headquarters,
Aditi Technologies and Synowledge are setting a new precedent among
Indian companies in their approach to outward investments; akin to US
MNCs such as Google, Airbnb, Apple etc.
On choosing Ireland as a strategic gateway to expand
into Europe, Alok Bajpai CFO
& India Head, Aditi Technologies said, “Our
Europe business is growing more than 50% a year with some of Aditi’s
largest customers based in UK. With a stabilised
and agile team in London and Dublin, we would have the
necessary wherewithal for expansion into Europe. Ireland's investor
friendly policies, close proximity to continental Europe and
membership of the EU fit perfectly into our expansion strategy.
Aditi, as a leading provider of cloud services, is looking forward to
augmenting local talent for consulting and engineering complex
deployments on the cloud, as our business continues to grow in
Europe.”
Antra Bhargava,
Global Vice President - Finance, Legal, and Human Resources of
Synowledge said; “Having grown exponentially since we began
operations in 2009, Synowledge was proud to be recognized as one of
the fastest growing private companies in the United States in 2013.
This growth is based on our focus on excellence, our people and our
clients. Managing such dynamic change has been possible because
of our ability to strategically locate our people and our office to
best serve our clients. Ireland was a logical choice for our ‘Rest
of the World headquarters’ to seamlessly connect with our US HQ and
our delivery centers in Europe, India and Japan. Being in the drug
safety, IT and regulatory affairs fields, Ireland as a hub for the
global life science sector and its cosmopolitan talent pool, were
also key factors in our decision. We are confident that Ireland will
add value to our clients and further fuel our growth trajectory.”
Speaking on the visit, Minister
Richard Bruton TD, Ireland’s Minister for Jobs, Enterprise and
Innovation said “India is a crucial trading partner for
Ireland and the trade between both the countries reached an all-time
high of 2.3 billion in 2012, which was a 24% increase from 2011.
Given that both India and Ireland pride themselves on the quality of
research, innovation and knowledge intensive talent capabilities, we
will continue to leverage these synergies in establishing Ireland as
a preferred partner for Indian companies focused on impacting their
long term business goals.”
India is pivotal in IDA Ireland’s emerging
markets growth strategy. Having established its presence in the
country in 2008, IDA Ireland India has been consulting not only
conglomerates and multinational corporations but also early stage,
fast growing companies from India.
Ireland is home to world leaders in sectors such as
life sciences, technology, medical device manufacturing, financial
services. Its attractive corporation tax rate of 12.5%, English
speaking and knowledge intensive talent and strategic location
advantage makes Ireland a preferred choice for companies across
sectors. Some of India’s largest and best known companies have
operations in Ireland such as HCL Technologies, Wipro, Wockhardt,
Reliance, Ranbaxy, Crompton Greaves, Ranbaxy, DQ Entertainment, Tata
Consultancy Services, ArisGlobal and Firstsource. Total employment in
Indian owned companies operating in Ireland is almost 3000
professionals.
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