April - 2016 - issue > CXO Insights

Europe: The Next Fertile Land for Indian Entrepreneurs

Leo Clancy, Head of Technology, Consumer & Business Services, IDA Ireland
Monday, April 11, 2016
Leo Clancy, Head of Technology, Consumer & Business Services, IDA Ireland
Headquartered in, Dublin, IDA Ireland is responsible for development and promotion of foreign investment in the country. Active since 1950, it is Ireland's inward investment promotion agency that has been attracting strong emerging companies as well as giant MNCs across diverse sectors like engineering, financial, life science and so on

Market segmentation decisions are no longer bounded by borders. Companies treat the world, including their home market, as one-market. However, the Indian companies which are seeking to stretch their wings globally are skeptical about Europe due to various languages and countries it contains. Ireland being an English speaking country using Euro currency, we are much integrated financially and hence it's a great launching pad for Indian businesses. Furthermore, you can access all European countries from Ireland.

Earlier it was a different world where it was tough for companies to invest outside of their home markets,but it's not the case today.Ireland has ensured that bureaucracy and legislation is favorable to any business and has also been maintaining proper amount of corporate tax rates, education to create best talents, research systems, and so on.Ireland government has always been very responsive not just to our businesses but international business too. As globalization is happening at a much faster pace, legislature alignment with the rest of the world is vital. European's market awareness is crucial for Indian exporters.

IT Industry Across the World

The development of IT is changing the world and the impact is felt around all the sectors and continents. The contributions being made by the IT industry towards the country's GDP has led to a steady growth of the Indian economy which has also helped the domestic economy to get integrated to world economy.In the next couple of years about a half a million vacancies will be available in IT in Europe as per reports.IoT is becoming more and more relevant. Interestingly, the core chip for IoT was designed by the Irish Intel team. When you connect all the information from all facets of life in one central place, you need data analytics which is yet another big trend. Likewise, Artificial Intelligence has become a hot topic over the last 12 months globally. Financial innovations and Robotics are becoming more disruptive.

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