EIB team visits Mumbai
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Mr. S.K. Saraf, chairman, FIEO(WR) (2nd from left) addressing the meeting. With him are from left, Mr. Amit Malviya, Sr. Vice President Corporate Banking, Western India, HSBC; Mr. Francisco de Paula Coelho, Director, EIB; and Mr. Philippe Szymczak, Managerial Advisor, EIB. |
A team of two senior Directors of European Investment Bank (EIB) addressed a select gathering of Indian Companies at Mumbai on 11th October. The officials of EIB were here with a special package for the Indian companies who were looking for finance to set up their manufacturing units.
Organised by the EU Chamber of Commerce & Industry, the meeting was presided over by the Western Region Chairman of FIEO, Mr. Sharad Kumar Saraf. Initiating the meeting, Mr. Saraf welcomed Mr. Francisco de Paula Coelho, Director, EIB, & Mr. Philippe Szymczak, Managerial Advisor, EIB. He also welcomed Mr. Amit Malviya, Senior Vice President Corporate Banking, Western India–HSBC.
Mr. Saraf appreciated the initiative of EIB to expand their base in India, recognizing the fact that India was now a very robust economy and the fastest growing economy in Asia, second only to China. He commended the fact that EIB lending in India was becoming more liberal, but at the same time, he said that the collaterals demanded as security was very stringent, especially the bank guarantee clause. He informed the EIB team that in India there was a large pool of small investors and getting a bank guarantee by them would be very difficult. Speaking further, he suggested that EIB should consider the fast pace of Indian economy and increase its lending to India which is just 2% of its total lending to Asia against 30% to China.
To a query weather EIB would be lending to Indian companies who do not have any EU connection, Mr. Philippe responded saying that now EIB was offering its loan to Indian companies without EU connection in case the projects undertaken are related to environmental sustainability. Mr. Francisco further added that any technology used in a project involving reduction of carbon emissions would also be considered.
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Websites of Important Chambers of Commerce & Industry Associations in Australia
Australian Business Limited (ABL): australianbusiness.com.au Australian Chamber of Commerce and Industry (ACCI): www.acci.asn.au Australian Industry Group (AIG): www.aigroup.asn.au Australian Information Industries Association (AIIA): www.aiia.com.au Australian Institution of Engineers (AIE): www.leaust.org.au Business Council of Australia (BCA): www.bca.com.au EC Credit Control Debt Collector: www.ecgroup.com.au Australian Exhibition Services (AES): www.ausexhibit.com.au Franchising Association: www.fca.com.au Australia Trade Network: www.australiatrade.org Information on business events: www.iccwbo.org BizAPEC : www.bizapec.com Australian Biotechnology Association: www.aba.asn.au Victorian Employers Chambers of Commerce & Industry, Melbourne: www.vccci.org.au Commerce Queensland: www.qcci.com.au Chamber of Commerce and Industry of Western Australia, Perth: www.cciwa.com Council for International Trade and Commerce of South Australia, Adelaide: www.citsa.org.au South Australia Chamber of Commerce and Industry, Adelaide: www.exportsouthaustralia.com Australia India Business Council (AIBC): www.aibc.org.au |
