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THE DANCING ELEPHANT
Ireland has the potential to be the European beacon for new Indian partnership trade relations According to Bernice Maria Paolozzi. She tells Niamh MacSweeney why the time is right to consider India as a vast and lucrative market worth tapping into Mahatma Gandhi, India’s first prime minister, believed his country could learn a lot from Ireland and came to the conclusion that if a small island could gain independence from the British Empire then it would also be possible for a large continent like India to do the same. So impressed was Gandhi with Irelands fight for independence that he decided the Indian flag would be the same colour as the tri-colour, as a mark of respect and as a symbolic gesture to inspire the people of India. More recently a major motorway in Deli was named De Valera Road, affirmation from India that they are intent on building lasting business partnerships with Ireland and further confirmation that they feel they can still learn a great deal from a small island thousands of miles away. FORGING LASTING PARTNERSHIPSIt may come as a surprise to learn that Ireland and India have many things in common but according to Bernice Maria Paolozzi, an independent global business developer, who is currently developing corporate and cultural trade relations between Ireland and India, the two countries have many similarities. “We had the celtic tiger and now India has the dancing elephant which is exactly what we experienced. They maintain in India that before the people were like an elephant that walks slowly, but that now Indians are driving the economy with their entrepreneurial endeavours and due to this the elephant is now dancing,” Paolozzi explains.According to Paolozzi, India is going through the same experiences Ireland did; changing from a less developed to a vastly developed country in a very short amount of time. She maintains that entrepreneurs were and still are the driving force behind the Irish economy and that industries grew quicker here than the infrastructure of the country, which she says is exactly what’s happening in India at the moment. Now it is Ireland’s turn to look towards India in an attempt to build trade relations between the two countries and to tap into the huge market potential and avail of lucrative business opportunities which are plentiful and waiting to be exploited. TRADING WITH INDIAWith a population of more than one billion and a youth population of more than 250 million, Paolozzi insists there are endless opportunities in India and that the entrepreneurial spirit of the country has experienced considerable vibrancy in recent years. It is the people that are driving the development of the country, which is expected to continue for many years to come. In the past many multi-nationals have entered markets in India, but Paolozzi argues that there are ample opportunities for the Irish SME sector and that Indians themselves are looking for more collaborative and lasting business partnerships.“Ireland is like a pond and India is the ocean. Because it is so vast and because it is only developing it needs to be taken as a separate entity when negotiations are going on. But what is happening at the moment is it is being put in as Asia so the negotiations are being slowed down in that way,” warns Paolozzi. She maintains that the biggest challenge at the moment is waiting for the European Commission to negotiate a mandate for a new generation of trade agreements, which they are in the process of doing that at the moment. Once this mandate is in place it will allow an easier flow of relations between the two countries and according to Paolozzi there will be plenty of opportunities for Ireland to do business in India. “We just have to start putting structures in and be prepared to negotiate with the Indians. With a continent that is six Europe’s in one place, we have to start educating our corporates and entrepreneurs who want to go out there,” she insists. Paolozzi says India is eager to do business with Ireland and that all that remains now is to ensure that Irish entrepreneurs are aware of the ways in which they can facilitate and develop business relations. EDUCATION IS KEYWith such a vast country, it is important to research India before entering the market, for example Mumbai is the financial centre and Bangalore is the IT centre. Paolozzi recommends that people are educated and decide what region their product would be best suited to. “Then set up a partnership agreement, but give them a sense of ownership so that they bring you the sales and you supply the product,” Paolozzi advises. She also explains that Indians like to get to know the person they are doing business with as they plan for it to be a lasting partnership. “Its a partnership based on ethics and work life balance. They are very aware of Karma and spirituality and they integrate that into their work force,” she explains.REMOVING TRADE BARRIERSPaolozzi recommends Irish entrepreneurs take at least a ten-day rekki trip to India before embarking on any ventures there. She also says it is crucial that you make the right connections with the right people so that neither time nor money are wasted on the trip. “Don’t get consultancy from somebody who hasn’t experienced India. Instead deal with someone who has dealt in India and who understands the challenges,” Paolozzi adds.As a business development facilitator Paolozzi is currently developing a series of trade and tourism networking events in Ireland to encourage and facilitate the flow of trade between the two countries. She is cleary committed to putting Ireland on the map in Asia. “Ireland is preparing itself for the shift in Asia and most entrepreneurs are becoming more educated in the market potential,” she says. However, there are still a number of obstacles to be overcome before trade relations can flourish. Once Ireland’s visa system is harmonised with the rest of Europe and once the EU Commission finalises a new trade agreement, trade relations will be able to develop. But Paolozzi says these alone will not be enough and that education is the key to successful partnerships between the two countries. “Our entrepreneurs have to be supported by the government, supported by major associations for education and they have to be given clear information so that it is streamlined for what they need to know to successfully do business in India. If we fail to educate Irish busineses and don't put proper structures in place we will lose a lot of opportunities that other European countries are already gearing up on,” Paolozzi warns. Published in the September 2007 Issue of Irish Entrepreneur | back to top |
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| © 2007 Irish Entrepreneur Irish Entrepreneur is published by Morrissey Media Ltd. 3 Dublin Road, Naas, Co. Kildare. T: + 353 45 866200 F: + 353 45 883709 E: info@irishentrepreneur.com |
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