Bengaluru, NFAPost: The Ireland India Business Association (IIBA) has announced the establishment of its subsidiary in India, known as the IIBA Foundation (India). This development represents a significant milestone in the organization’s efforts to promote knowledge sharing, networking, and bilateral trade between Indian and Irish businesses.
The launch of the IIBA Foundation in India highlights the shared commitment to strengthen and expand the trade relationship between the two nations. Over the past decade, India-Ireland bilateral trade in goods and services has tripled, reaching nearly Euro 10 billion value. The IIBA, initially formed in Ireland in 2008, has been crucial in fostering business relations through close collaborations with leading Indian and Irish business associations, trade bodies, and government agencies.
Brendan Ward, the Ambassador of Ireland to India, expressed his confidence in the growing economic and trade relations between the two countries. He emphasized the role that IIBA will play in raising awareness of opportunities in both India and Ireland and encouraging investment.
Tanaz Buhariwalla, the India Director of IDA Ireland, acknowledged the significance of the economic relationship between India and Ireland, with numerous Indian companies choosing Ireland as their international home. She highlighted Ireland’s unique geographic advantage as a gateway to the EU and its reputation as a top 15 innovative country. Buhariwalla recognized the IIBA’s crucial role in strengthening commercial ties, facilitating business development, and promoting bilateral economic growth.
Saurav Sanyal, Chairman of IIBA (India), welcomed the launch of the Ireland India Business Association in India as a major step forward in strengthening the commercial bonds between the two nations. He expressed enthusiasm for creating a platform that promotes collaboration, facilitates business expansion, and generates opportunities for growth. Sanyal emphasized the immense potential within the Ireland-India trade corridor and reaffirmed IIBA’s commitment to fostering a vibrant and growing trade relationship between the two countries.
The IIBA has established sector-specific working groups focusing on areas such as Technology, Food & Agribusiness, Health and Pharmaceuticals, Education, Aviation, and Startups. With a diverse membership base including prominent entities like IDA Ireland, Enterprise Ireland, Tata Consultancy Services, WIPRO, HCL, and Infosys, as well as numerous small and medium-sized businesses from various sectors in India and Ireland, the IIBA has demonstrated its ability to connect businesses from different industries and facilitate collaborative opportunities. The growing membership reflects the significance of the trade relationship and commercial opportunities between India and Ireland, which are expected to be further enhanced through the ongoing negotiations for a Free Trade Agreement with the European Union.
A launch event was held at the Irish Consulate in Mumbai, attended by senior executives from Ireland and India, representatives from the Irish Embassy in India, industry leaders, members of the business communities from both countries and delegates from leading Indian educational institutes. This event celebrated the establishment of IIBA in India and laid the foundation for fruitful collaboration between Irish and Indian businesses.
