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Ireland woos Indian companies from smaller towns post Brexit

At present most of the Indian companies in Ireland belong to IT segment.

ET Bureau|
Last Updated: Aug 03, 2018, 06.59 PM IST
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Ireland is trying to woo companies from smaller towns in India to set up base in the country to service the European market after Brexit.

IDA Ireland, the nodal agency to attract investment to Ireland, is expecting the number of companies setting up facilities in the country to double in the next four years. `` From 40 companies we are targeting 80 by 2022,’’ said Tanaz Buhariwalla, director –India of IDA Ireland.

The agency which was focusing on the metros to attract companies has been going to tier 2 towns like Chandigarh, Thiruvananthapuram and Kochi. `` The other towns we are looking at are Nagpur, Indore and Bhopal,’’ Buhariwalla said.

At present most of the Indian companies in Ireland belong to IT segment. ``Life sciences have emerged as a promising sector,’’ Buhariwalla said. ’ Currently six out of the top 10 Indian IT service companies operate out of Ireland, she said.

According to her interest among Indian companies to set up base in Ireland has spiked since Brexit as they are concerned about servicing European markets from the UK. `` Ireland has a distinct advantage as it is the only English part of the EU offering a favourable business environment coupled with immigration policies.’’

The Irish companies are also collaborating with their Indian counterparts to access the Indian and SE Asian markets.

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