Dublin, Jan. 22: Ireland is looking to attract Indian investments in various sectors, including information and technology, pharmaceuticals and financial services.
The IDA Ireland, a trade body of the Irish government, is trying to bring companies from India to set up shop there.
In the last few months, HCL Technologies has set up an 80-people research and development centre in Ireland.
"We are in talks with six to seven Indian companies who are interested in setting up base in Ireland. We have common laws and the tax structure here is very good. We hope to attract more FDI from India in the near future," said Minakshi Batra, director (India) of the IDA Ireland.
The country is also planning to increase its investments in India. Aer Rianta International (ARI), a subsidiary of the Dublin Airport Authority which partnered Delhi International Airport Limited and Indian Duty Free Services for the Delhi Duty Free Services Private Limited at T3, is eyeing retail contracts in other Indian cities too.
"A 15-year contract with the Delhi airport is a remarkable opportunity for us. There are other cities such as Kochi, Mumbai and Hyderabad from where we are receiving business. We hope to bag more retail contracts in other cities which have international flights," Jack MacGowan, chief executive of ARI, said.
Irish trade value with India was up 29 per cent in 2011, driven by strong growth in the pharma and IT sectors. In 2010, trade between the countries was worth $624 million.
Trade ties
Leo Varadkar, Ireland's minister for transport, tourism and sports, hopes for better trade ties between the two countries. He said his government was working hard for a direct flight between India and Ireland. "India can turn out to be a key ally for Ireland. We have been trying to get a direct flight between the two countries started. In the next few months our people would again be meeting the Indian authorities. We hope direct services start in the next two years," he said. The UAE's flag carrier Emirates has started a flight from Delhi to Dublin via Dubai.
(The reporter was on a sponsored trip to Dublin)
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