Minister Martin to travel on Trade Mission to India

Minister for Enterprise, Trade and Employment Micheál Martin T.D., will travel as a member of Ireland’s first ever State-led trade mission to India. The mission which will take place from today (16^th January 2006) to January 22^nd will be led by the Taoiseach. The Taoiseach will be accompanied on the visit by Ministers from two other Government Departments.

“This trade mission is evidence of the Governments commitment to the Asia strategy and will provide even greater impetus to the development of our relations with India. The Indian ecomony is growing rapidly and is forecast to achieve a growth in GDP terms of about 7% over the coming years. The growth of a young well educated consumer population will help provide great opportunities for Irish businesses to become involved the expanding Indian market”, the Minister said.

Enterprise Ireland will have a business delegation of over 80 Irish companies on the mission. For many of these Irish companies this trade mission will largely exploratory. They will have the opportunity to meet with potential partners to discuss possible distribution and joint venture agreements. The itinerary will include a number of business events and meetings in Bangalore, New Delhi and Mumbai.

India has a population of over one billion people of which about one third fall into the consumer category, including a young educated and technology aware population with a growing ability to absorb sophisticated products and services. The Indian economy has been developing rapidly. This development comes on foot of significant increases in trade and investment which follow on from the liberalisation of trade and investment policies and India’s integration into the global economy.

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