SME Times News Bureau | 20 Nov, 2019
India and the countries of the Europe 29 region are beacons
of growth in a slowing world, said Union Commerce Minister Piyush Goyal on
Speaking at the India – Europe 29 Business Forum organized by
the Ministry of External Affairs and Confederation of Indian Industry (CII) in
New Delhi, the Minister said that India and Europe have very strong historical
and cultural connect and can capitalize on this to develop strong economic
Both India and Europe have complementary strengths especially
in areas such as smart cities, renewable energy, start-ups IT and ITeS stated
the Commerce and Industry Minister.
In addition to this, he suggested that promotion of bilateral
tourism may be considered as a major area of cooperation. Piyush Goyal was of
the view that the E29 region could act as a gateway for Indian products to the
wider European market.
The Europe 29 (E29) region refers to the 29 countries in
Central, Eastern and Northern Europe.
On this occasion, Mariyana Nikolova, Deputy Prime Minister
for Economic and Demographic Policy, Bulgaria invited Indian industry to invest
She stated that Bulgaria has a predictable and stable policy
framework as well as one of the lowest tax rates in Europe at 10% for
She informed that the areas where India and Bulgaria can work
together include pharmaceuticals, chemicals, machinery and agri and food
processing, among others.
She also highlighted Bulgaria’s strengths in both hardware
and software where Indian companies could be an ideal partner.
Vojtecj Ferencz, State Secretary and First Deputy Minister of
Economy, Slovak Republic highlighted that companies like TCS and Jaguar Land
Rover had invested in the country, and there was a need to step up Indian
Some of the sectors which may be considered are automobiles
and auto components, electronics and electrical equipment.