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Indian trade hub to come up in Bucharest

Jul '07
Federation of Indian Export Organisations (FIEO) has plans to set up an Indian Trade Centre in Bucharest to help Indian businessmen launch projects in Romania and effectively conduct their business overseas.

The warehouse-cum-display centre, which will be called FIEO-ITC, will be located on the highway to the airport and will start functioning within two months. The aim of this centre is to let international buyers see and touch Indian goods so that they are better able to make their decisions.

The 1,000-square-metre FIEO-ITC space will exhibit Indian goods — be it textiles, garments, tea product or handicraft items — continuously for 12 months from the date of its opening.

Highlighting the reasons why Romania was chosen as the prime location, FIEO officials said Romania had cost-effective economy of operation, a sizeable population, fast-developing neighbouring countries, an excellent sea port and good connectivity to the rest of Europe through the Danube river network.

Apart from showcasing Indian goods, FIEO-ITC would also organize meetings of Romanian company officials with Indian company heads. The centre will also cater to customs and port requirements and help in speedy exchange of business between the two countries.

FIEO is also planning to implement a new methodology to lure the business community whereby interested entrepreneurs will be provided with a display space of 15 square metres at a reasonable price of Rs.1.5 lakha year.

According to the officials, many Indian firms have shown a keen interest in occupying space at the Bucharest centre that is being offered on a first-come-first-served basis.

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