Terence Flanagan
Question:69. Deputy Terence Flanagan asked the Tánaiste and Minister for Foreign Affairs and Trade the steps being taken to improve trade with India; and if he will make a statement on the matter. [1453/14]
View answerWednesday, 15 January 2014
Questions (69)
Written answers
Developing Ireland’s trade and investment relationship with India is an ongoing priority for the Government. The Export Trade Council, which I chair, is responsible for the implementation of Ireland’s Trade, Tourism and Investment Strategy. The Council includes relevant Ministers, heads of State Agencies involved in trade promotion, along with representatives of the private sector. Total merchandise trade with India in the period January-October 2013 was €539 million, with exports at €204 million and imports at €335 million. Exports in services to India grew by €382 million to €1, 413 million in 2012.
Since 2012, the Irish Embassy and State Agencies in India have worked to a joint strategy which sets out agreed priorities for the bilateral relationship with India.
This includes targets for increased trade, investment, tourism and education links between Ireland and India. The Embassy and Agencies work closely on implementing this strategy, regularly reviewing progress against agreed targets. The strategy focuses on India as a source of inward investment and on encouraging Irish business to investigate market opportunities in India. It also prioritises tourism and education to attract Indian nationals to Ireland and there has been strong growth in these sectors in recent years.
The strategy also commits the Embassy and Agencies to combine resources where possible in order to maximise their combined impact in a market of 1.2 billion people. One example of this was a television advertising campaign concerning the Irish cricket team in late 2012. This was co-funded by the Embassy and Agencies and projected Ireland as a tourism, education and investment destination to an audience of millions.
In addition, the Embassy regularly hosts events with or on behalf of Irish business and the State Agencies with a view to developing their network and client base within India. In 2013, several events were held on behalf of Ireland’s food and beverage industries, the pharmaceutical sector, the bloodstock industry, hotel and tourism sector, aviation services and education, amongst others.
In November 2013, Minister for Jobs, Enterprise and Innovation, Mr. Richard Bruton TD, led a trade and investment mission to India with the Embassy, EI and IDA. 42 Irish companies and Higher Education Institutions participated in the mission, which targeted sectors including technology, life sciences, financial services, engineering and education.
In 2013, Ireland’s international education sector in India has shown strong results with a year on year 120% increase in visa applications to study in Ireland. The target is to double the number of Indian students studying in Ireland to 2, 000 by 2015, with a further ministerial education mission to India in planning for 2014.