Richard Bruton TD, Ireland’s Minister for Jobs, Enterprise and Innovation, is leading a joint delegation to India from November 17-21 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 per cent 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 recognised as one of the fastest growing private companies in the United States in 2013. 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 per cent 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. 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. Reportedly, total employment in Indian owned companies operating in Ireland is almost 3000 professionals.
EP News Bureau