Baltic Sea Region woos Indian SMBs

Dheeksha Rabindra

BANGALORE: Countries in the Baltic Sea belt in Europe including Finland, Denmark, Latvia, Estonia, Sweden and Lithuania are inviting investment from small and emerging ICT and biotech companies in India.

With Indian majors like Wipro, TCS and Sasken Communication, having established their centers in this region already, these countries are eying Indian SMBs to invest in Baltic region, said Sooraj Dhawan, representative from BalticSeaRegion, participating in the Bangalore IT.in event, in the e-nation pavilion.

For the first time the Baltic Sea Region has formed a consortium this year comprising of Finland, Denmark, Latvia, Estonia, Sweden and Lithuania with the objective of highlighting the opportunities available to Indian IT and biotech companies in that region.

The consortium provides free advisory consultation to the companies regarding setting up a new business, information and practice advice, arranging visit programs, support in finding trade partners and also introduces to the government officials of the concerned nation, Dhawan added.

Regarding fiscal incentives provided by Baltic Sea Region for the Indian companies, Dhawan said that it varies from country to country and project to project in that region. He further added that entering through the Baltic Sea Region could provide a gateway into the European Union (EU) business community.

Highlighting opportunities in Baltic Region, Dhawan said that this region is rich in human capital with a skilled workforce in the information technology industry, extensive communication networks, and provides opportunity in R&D sector backed by state and EU support schemes.

The Baltic Sea Region could be a good destination for companies looking to combine emerging and developed markets, low cost and high productivity, flexible labor market, established test markets and access new markets including UK and US, he added.

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