New Delhi: The Baltic Sea Region, an investment
network and a consortium of six countries Denmark,
Estonia, Finland, Latvia, Lithuania and Sweden, has
invited Indian companies, especially from life sciences,
engineering, automotive, IT and telecom sectors, to
set up businesses in the region. The Baltic Sea Region
is the fastest growing region in the EU, and is a cost-effective
and highly productive destination for the Indian sector
majors and SMBs.
from each of the six Baltic Sea countries were in New
Delhi this week to meet members of CII and offer consultation
on setting up new businesses, and arranging visit programmes.
"With the changing economic climes, globalisation
and liberalisation, India has witnessed a series of
cross-border investments, said O Rolf Larssen, managing
director, Copenhagen Capacity, BSR. He added that several
Indian companies had expanded their global operations
in various sectors across the world including the BSR.
"Companies such as Indorama, Wipro, Tata Consultancy
Services, Larsen and Toubro, and Rheoscience have successfully
invested in the region and are bearing the fruits of
what the region offers them," he said.
to Raimonda Sadauskiene, Deputy Director General, Director
of Investment, Department, Lithuanian Development Agency,
BSR, "Countries under the BSR are in the top 12
for being most investor-friendly in the world. They
offer competencies that complement those of the Indian
partners. Easy access to European and Russian markets,
cost-effectiveness, highest rates of industrial production
growth in Europe and high production efficiency based
on ground-breaking IT technology, equates to value for
money for our partners."
According to The World Economic Forum''s statistics,
Finland, Sweden and Denmark have consistently been in
the top five of the world''s most competitive economies
while Latvia, Estonia and Lithuania are Europe''s fastest-growing
economies. The Baltic Sea Region has vast experience
in international trade that also offers world-class
financial, educational and innovation facilities, while
the record-breaking growth in the region''s prosperity
projects that its consumer markets are rapidly expanding.
Advantages of the Region:
Access to the Region''s 100 million consumer and 250
million in neighbouring Russia and CIS, apart from
450 million consumers of the EU
GDP growth rate of 6.1 per cent in 2005 compared to
UK''s growth rate of 1.8 per cent
hub: Cost-effective land, sea and airfreight with
EU''s harmonised customs procedures, minimised bureaucratic
load, new direct passenger flights and well-established
R&D: Highest number of researchers per capita
in Europe and the highest rates of growth in innovation
Widespread knowledge of English and Russian language,
the combination of which provides a ready-made human-capital
base that will not only allow to test and develop
products, but also to market them across the widest
Record breaking production growths in automotive &
engineering, ICT and Life science sectors
The region has nine Special Economic Zones / Free
Ports, offering substantial business incentives including
tax discounts, duty-free status and long-term leases
at minimum rents
Investments are protected by a transparent legal and
Baltic Sea Region does give advantaged access to European
markets, but our experience demonstrates that the Region''s
market itself is an added incentive to Indian investment,"
said R Gurumoorthy, GM corporate affairs, Indo Rama
Synthetics (India) Ltd.
geographic position with fast access to EU and CIS markets,
excellent infrastructure, and favourable economic environment
were the foundation of the our €100 million investment
in the region."
the last two-decades, various competitive brands such
as Accenture Technology Solutions, Microlink, TDC, Telia
Sonera, and TietoEnator have witnessed strong growth
and have established head offices in the region. Also,
Indian technology majors such as Tata Consultancy Service,
Wipro, Shyam, and Sasken Communication Technologies
have successfully invested in the region.
Region has strong Lifesciences competencies united into
a super cluster through the ScanBalt BioRegion initiative
it has over 1,000 biotech and life science companies
with brands like AstraZeneca, Leo Pharma, Lundbeck and
Novo Nordisk. BSR has over 60 universities working in
life science research, with growing opportunities in
clinical trials and medical methodology.
Liberalisation of policies has brought tremendous benefits
to the Region,
which has driven down costs and built strong advantages
for engineering and automotive manufacturers like as
ABB, Atlas Copco, Autoliv, Kone, Saab, Sandvik, SKF,
Snaige, Volvo and Wartsila.