Malta Enterprise to lead India trade mission in November

Malta Enterprise is to lead a business delegation to Mumbai and Hyderabad in November to follow up on the recent appointment of an India-based regional leader.

The trade mission will build on the leads established by a business delegation’s visit in 2009.

India’s economy has grown to become one of the largest in the world following the economic liberalisation which began two decades ago when strict controls on foreign trade and investment were eased.

The country’s growth, which has averaged more than seven per cent annually in the last six years despite the global difficulties, has enabled India to be one of the frontrunners in economic growth. With the other BRIC countries, it is envisaged to become an even bigger player in the years to come.

Its diverse economy encompasses not only traditional sectors such as agriculture, but also a multitude of services which indeed have been the major source of economic growth, accounting for more than half of India’s output with only one-third of its labour force.

India, with its population exceeding 1.2 billion, has capitalised on its large educated English-speaking population to become a major exporter of information technology services and software workers.

ICT is indeed one of the major sectors in Hyderabad, earning the sobriquet “Cyberabad” for the size of this industry. The city is the largest contributor to the state’s GDP, state tax and excise revenues and also hosts a number of bio-technology and pharmaceuticals companies and a large filming industry.

Mumbai is the financial capital and richest city in India. The city hosts numerous companies in the ICT sector, the pharmaceutical and bio-technology industries, as well as the renowned Bollywood film industry and is an important logistics hub for the country.

With several of these sectors being similar to those which have been registering a positive performance in Malta, the opportunities for possible cooperations abound.

While participants in the business delegation are encouraged to organise meetings through their own contacts and links to ensure a successful outcome, as part of its assistance Malta Enterprise will endeavour to organise meetings for the participants through its institutional networks.

Malta Enterprise will also assist participants by providing a per diem allowance and refunding 60 per cent of air fares for one representative of each company, provided that the company representative participates in the official programme.

Enterprises eligible for this assistance include manufacturers, service providers, as well as companies seeking joint ventures and strategic alliances, technology transfer, research and development opportunities, licensing and franchising opportunities.

The business delegation is being supported by the High Commissioner of Malta in New Delhi, the Malta Chamber of Commerce, Enterprise and Industry, the General Retailers and Traders Union, the Gozo Business Chamber, FinanceMalta, the Malta Tourism Authority and HSBC.