India and Portugal strengthen business ties during historic London event

India and Portugal strengthen business ties during historic London event

Political and industry leaders from India and Portugal have taken part in a first-of-its-kind business forum aimed at strengthening economic ties between the two countries.

The roundtable event was held in London on Wednesday April 11 and attracted almost 40 UK-based Indian companies with interests across Europe, including representatives from Tech Mahindra, Tata Consultancy Services and Taj Hotels.

The Portuguese government and business delegation was led by prime minister António Costa, and included cabinet members and representatives from inward investment agency Portugal In.

High Commissioner of India to the UK, Mr Y. K. Sinha, also addressed the meeting. He highlighted the warm and friendly relations between India and Portugal, and emphasised that it was the right time for not only for Indian companies to enhance partnerships across Europe, but also for Portuguese companies to investigate business opportunities in India.

Prime minister Costa said: “India is a world leader in many areas but the strongest shining star is undoubtedly new technologies. Portugal too is leading Europe in new technologies, with many multinational corporations choosing our country as their digital, tech and innovation hubs in Europe.

“This sets the stage for deeper economic engagement between the two countries and to make Portugal even more attractive for Indian companies.”

He added: “We are strongly committed to strengthening the partnership between the EU and India, based on a spirit of cooperation, reciprocity and mutual benefit, and I am delighted that Portugal and the Confederation of Indian Industry come together to facilitate collaboration between Indian and Portuguese companies.”

Dr David Landsman, chairman of the Confederation of Indian Industry’s India Business Forum (UK), said 2017 saw an increase in bilateral trade across various industries, ranging from metals and manufacturing to hospitality and renewable energy.

He said: “There’s huge scope to do more together: the prime minister’s visit and the time he has given to interacting with Indian businesses present a great opportunity to explore how we take the relationship to a new level.”

Main image: L to R: Mr Bernardo Trindade, Executive Director, Portugal In; Mr Manuel Caldeira Cabral, Minister of Economy; Ms Chitra Stern, Executive Committee Member, Portugal In; Ms Shuchita Sonalika, Director, CII; Dr David Landsman, Chair, CII India Business Forum UK and Executive Director, Tata Limited; Prime Minister of Portugal HE António Costa, and HE Shri YK Sinha, High Commissioner of India to the UK.

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