Governor of Karnataka Urges Central European Leaders to Invest

Governor of Karnataka, Vajubhai Rudabhai Vala said that the Karnataka and its city Bengaluru in particular would be one of the most attractive investment destinations for Central European businesses.

To get the best returns from the Indian market, Central European businesses should look to invest in the country and leverage the low-cost raw materials and labour that is available to produce the same products at costs that would be lower than imported goods, he at the Valedictory Session of the 2nd India-Central Europe Business Forum conference organised by FICCI in Bengaluru.

Vala highlighted Bengaluru’s pre-eminent position as a hub of information technology and biotechnology companies. He urged the Central European business leaders to leverage the emerging investment opportunities that are unfolding in the country in the wake of Government of India’s ‘Make in India’ campaign.

Secretary West, Ministry of External Affairs, Government of India, Navtej Singh Sarna said that an electronic platform should be created to facilitate specific meetings between Indian and Central European businesses on a monthly basis. He said ICEBF is a unique forum that connects two regions that are culturally drawn towards each other.

The one-on-one meetings with delegates of the participating nations along with interactive sessions proved to provide the answers, said Deputy Minister of Foreign Affairs & Trade, Hungary, Laszlo Szabo, adding that the key highlight of the convention was the signing of an MoU between the Government of Karnataka and Hungary for identifying potential areas of cooperation.

Queries like how to promote economic growth in an environmental friendly manner, how to create a sustainable growth that would benefit both businesses and people were answered in this business forum, he said.

He also invited the Indian delegates to the Inter-Governmental Joint Economic Committee to be held at Budapest.