The Hindu : Tamil Nadu / Chennai News : Indian Trade Centre to be set up in Bucharest

Online edition of India's National Newspaper
Tuesday, Jul 03, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Indian Trade Centre to be set up in Bucharest

N. Anand

CHENNAI: To help Indian businessmen do business in Romania with ease, the Federation of Indian Export Organisations is setting up an Indian Trade Centre in Bucharest.

Called FIEO-ITC, the proposed warehouse-cum-display centre will start operating within two months and will enable international buyers to base their buying decision through a touch-and-feel method.

Located on the highway to the airport, FIEO-ITC has 1,000 square metre of space to showcase Indian goods —be it textile garments, tea product or handicraft items — continuously for the next 12 months.

Talking to The Hindu on Monday, FIEO officials said Romania had cost-effective economy of operation, a large population, fast developing neighbouring countries, a good connectivity to the rest of Europe through the Danube river network and an excellent sea port. Moreover, Romania could cater to the needs of European Union countries. Romanian industry offered huge potential for growth.

As per the charter, FIEO-ITC would promote Indian products and services, act as an offshore centre, co-ordinate visits of Romanian companies to India and Indian companies to Romania, gather a list of Romanian buyers, manage customs and port requirements for goods sent from India and inform from time to time the changes in rules and regulations related to exports to Romania.

Aware of its failed attempt to set up such a centre in Amsterdam in the 1990’s, FIEO was adopting a new methodology to woo the business community. Interested entrepreneurs would be given a display space of 15 square metre, or multiples of it, at a reasonable price of Rs.1.5 lakh a year.

The Commerce Ministry was contributing another Rs.1.5 lakh. A local agency was being hired, on a revenue sharing basis, to take care of administration and pre-and post-sales activities. This process would eliminate middlemen.

According to the FIEO-ITC officials, several Indian firms have evinced a keen interest in occupying space in Bucharest that is being offered on a first-come-first-served basis.

“To do business in Romania or in East European countries, you need not have to open up a business centre, appoint full-time sales or marketing manager or have a showroom. Just send your samples and catalogue and relax. We will do the rest,” they say.

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