International Journal of Research in Economics and Social Sciences
Year : 2017, Volume : 7, Issue : 4
First page : ( 7) Last page : ( 13)
Online ISSN : 2249-7382.

Possibilities for India's Trade and Economic Co-operation with Poland

Dr. Tyagi Vandana

(Principal) APEEJAY Saraswati PG college for Girls (Ch-Dadri)

Online published on 25 September, 2017.

Abstract

Poland is India's fourth largest trade partner in Central Europe and 57th largest trade partner globally. Both countries have taken positive steps to boost the bilateral relations including trade exchanges. India and Poland signed a new Economic Agreement in May 2006. Following the agreement, the first meeting of the Joint Commission was held in India in May 2008, the second session in Poland in May 2011 and the third session in October 2013 in New Delhi. India and Poland set an ambitious trade target of USD 5 billion at the fourth session of the bilateral Joint Commission on Economic Cooperation, held in Warsaw on June 15. The commission, co-chaired by Mr Amitabh Kant, Secretary, Department of Industrial Policy and Promotion and Mr Jerzy Pietriewicz, Secretary of State, Ministry of Economy, drew a blueprint for stepping up investments and identified a series of actions to raise trade from the 2014 level of USD 2.3 billion, to USD 5 billion by the year 2018.

Speaking at the plenary session, Secretary of State Pietriewicz noted that the economic partnership between the two countries was significantly boosted by the visit to India of Mr Piechocin ski, Deputy Prime Minister and Minister of Economy of Poland in January 2015 and his meeting with Indian Prime Minister Mr Narendra Modi. Mr Amitabh Kant described the dynamism of the Indian economy and invited Polish investors to look at various new programmes like Make in India and Smart Cities, and to take advantage of the significantly improved investment climate.

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