India, Poland set trade target of USD 5 billion
"The commission, co-chaired by Amitabh Kant, Secretary, Department of Industrial Policy and Promotion and Jerzy Pietreiwicz, Secretary of State, Ministry of Economy, drew a blueprint for stepping up investments and identified a series of actions to raise trade from the 2014 level of USD 2.3 billion, to USD 5 billion by the year 2018," read a government statement.
Amitabh Kant described the dynamism of the Indian economy and invited Polish investors to look at various new programmes like Make in India and Smart Cities, and to take advantage of the significantly improved investment climate.
He said India had become one of the most open economies in the world, with de-regulation and hikes in FDI limits in key sectors like defence, infrastructure and railways.
Secretary Kant stressed the Government of India had created an enabling environment for foreign investors and was committed to provide hand-holding facilities to inbound investments.
The three co-chairs of the newly created Joint Working Groups on Coal, IT and Food Processing, also presented the outcomes of their first meetings, held on the eve of the commission meeting.
In the coal and steel sector, both sides have drawn a roadmap to strengthen cooperation in areas such as thick seam underground coal mining, exploitation of highly gassy seams, developing clean coal technologies and transfer of technologies in deep coal mining from Poland to India.
In the food processing sector, experts discussed market access, food processing technologies and research and development between scientific institutions.
The Polish side showed interest in exporting the latest food processing machinery and technology to India.
In the IT and ICT sector, India and Poland have identified areas to strengthen cooperation in entrepreneurship development and support; research and development and innovation in cloud computing; big data analysis; cyber-security, data protection, smart cities projects and accreditation of each other’s courses.
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