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India and China Present Growth Opportunity for Irish Businesses

India and China Present Growth Opportunity for Irish Businesses

Over the course of 2011, Irish exports to high growth markets such as China and India increased significantly. Such markets will continue to offer significant opportunities to Irish companies across many sectors including education, financial services, life sciences, construction and engineering.

This was the theme of a recent seminar held in Dublin, Ireland entitled Finding New Markets: Doing Business in India and China, sponsored by Enterprise Ireland and Ulster Bank.  The event was attended by over 150 professionals interested in learning about foreign expansion and growth opportunities in India and China. 

Speaking at the event, Michael Shelly, Director of PM Group, said: “PM Group entered the Indian market in 2008 and set up a company there in 2010.  India is a country with enormous growth potential and with significant opportunities for Irish companies. Company law and bank regulations can be challenging, particularly for foreign enterprises.  Local advice and expertise is essential to getting through the process successfully.  For companies looking to establish a presence in the Indian market, I would suggest that you need to do your homework very well.”

The seminar included presentations from Irish companies actively doing business in these countries, as well as Enterprise Ireland and RBS experts based in India and China.

“The importance of these markets is reflected in Ireland’s programme of trade missions and market events which is heavily geared towards high growth markets to support the growing number of Irish companies seeking to access these markets,” said Kevin Sherry, Director of International Sales and Partnering, Enterprise Ireland, co-sponsors of the event with Ulster Bank (RBS).

“The current economic slowdown has had a positive impact on the flows of traditional and new trade finance products. Many companies traditionally traded in their local markets – Ireland, the UK and the rest of the EU – but now they are finding it necessary to go further afield,” said David Thomas, Managing Director of Corporate Markets, Ulster Bank.

Today’s Finding New Markets seminar also featured market-specific clinics and one-to-one sessions to answer questions from companies looking to develop or enhance business opportunities in these countries. 

Pictured above at the event in Dublin are (left to right): David Thomas, Ulster Bank; Michael Shelly, Director, PM Group (Centre) and Kevin Sherry, Enterprise Ireland