With the changing events and growing relations, India and Poland, both being members of the United Nations (UN) are expected to work together for global peace. Recently, Poland has invited India’s Prime Minister while he will be visiting Portugal for the European Union-India summit (May 2021), and Cornwall, United Kingdom to attend the G7 grouping where India is a special invitee.
Export: Growth in bilateral trade during the last decade has set the tone for improved economic and commercial ties between India and Poland. Poland is India’s largest trade partner and export destination in the Central European region, with bilateral trade growing almost seven-fold over the last ten years.
Investment: Indian investments in Poland are valued at over USD 3 billion and constitute the second-largest FDI in Poland. Total Polish investment in India is estimated at USD 672 million and has played a significant role in establishing greenfields in third countries.
Foreign Direct Investment (FDI): India is a very hot destination for Foreign Direct Investment (FDI) from Poland. From April 2000 to March 2019, Poland alongside with other countries has invested in India a combined amount of USD 672 million which is 0.16% of India’s total FDI inflows during the period under review.
Agro and Food processing sectors: Food processing is a sector in which India and Poland could partner up. India has top-notch, cutting-edge food processing technologies in the world, while Poland possesses world-class storage, preservation, and packaging technologies. These two countries can collaborate to improve the food processing value chain.
Information Technology (IT) Sector: The information technology (IT) sector has rapidly grown and transformed itself over the years in Poland. Today, the high-quality services it provides, coupled with the competitive costs, make it attractive for businesses outsourcing their IT operations from India. This has been a catalyst for extensive sectoral collaboration between our two countries.
Textile Sector: India has presently a share of only 3.73% overall in the Polish Textile and Apparel Imports (valued at USD 400 million). This can be increased by taking joint initiatives with the Polish Textile Producers & Exporters Association (PTPA).
Mining/Energy Sector: Poland is reputed for clean coal sector technologies, which are used in India. Poland’s involvement in India’s mining and power sector is relevant for the advancement of bilateral relations between the two countries.
Pharmaceutical and Chemicals Sector: There is a growing trend among Indian companies to invest in the infrastructure projects in Poland. As India is a known market for Polish and EU service providers, the pharmaceutical and chemicals industries have good opportunities to expand their business to this market on the back of an already established network of contacts. Companies operating in Poland can establish subsidiaries and register with the Ministry of Health if they wish to establish manufacturing plants.
The Polish interest in Sanskrit is well documented. There is a strong tradition of Indology studies in Poland, with Polish scholars having translated Sanskrit into Polish as early as in the 19th Century. Estimated at approximately 10,000, the Indian community in Poland consists of traders (textiles, garments and electronics) who came after the collapse of communism, and professionals with multinational or Indian companies and software/IT experts, including a rising number of Indian students.
