By EuAsiaNews,
Brussels : The Europe India Chamber of Commerce (EICC) expressed its determination Saturday to provide services to boost trade and investments flows between Europe and India .
Addressing the meeting of the Board of Directors of the EICC in Brussels, EICC Secretary General Sunil Prasad said the chamber is becoming the First Port of Call for those doing or want to do business with India and vice-a versa.
“The chamber is now engaged in increasing its membership, helping in creating a greater networking opportunities and in greater value for investment. Part of our chambers initiatives is to convert our it to an e-chamber, to have more services online and utilize the adoption of modern technology, which is a global phenomenon,” he told the gathering of European and Indian business and corporate representatives.
The EU-India Summit in October in Brussels is a challenge to the EICC as we would like to play very active role in the business Forum together with other stake holders.
“If one is looking to build business in India or Indian companies in Europe, there is no better way than contact the EICC,” he noted.
“The EICC is an outstanding organization. Six years ago it was established as a small project that had been the brainchild of some visionaries. Since then, the chamber has been recognized as an accredited chamber of commerce with distinction by its members and also those who have seen its growth; from near and from far,” he added.
Later speaking to EuAsiaNews, Prasad said that the short-term impact of the current debt crisis in some EU member states on the Indian economy will be indirect and will be largely limited to the Indian stock market, whereas the prolonged debt crisis will definitely have negative and adverse impact on Indian exports.
Prasad said that 27 percent of India’s trade is with Europe and the crisis will impact India’s export to the region.
He also feared that due to austerity measures being taken by some EU counties, there could be strong tendency amongst the European countries to invent protectionist measures in the form of non-tariff barriers in the EU-India trade.
On the ongoing EU-India Free Trade agreement negotiations, Prasad said that India offers Europe an unique opportunity to develop bilateral trade for the benefit of Europe now more than India.
He, however, said that this crisis may also prove to be a boon for the emerging market like India as investors will look for save heaven and lesser risk market for profit.
“Although Euro might have lost its virginity,” Prasad cautioned that it is too premature to celebrate Euro’s demise.
“Europe grew over the ashes of Second World War to become one of the strongest economy of the world and Europe will take any measure to see Euro brings back its shine and charm,” Prasad told EuAsiaNews.