Business houses in Poland and other European countries have expressed interest in building strong industrial and trade ties with India. Poland not only averted recession but also recorded 1.8% GDP growth in 2009, the best among the (EU) European Union nations. The year 2010 promises to be even better for Eastern Europe’s biggest economy, with predictions for Poland registering the fastest growth in the EU. For 2010, Poland expects an economic growth of around 2%, while the Monetary Policy Council estimates the Polish economy to expand as much as 4%.

Good economic policies, low inflation and debt levels, huge domestic markets, booming retail industry and a considerable amount of foreign reserves helped Poland to outperform its neighbors and to weather the global financial crisis. Such growth projections, coupled with efforts on the part of the Indian and Polish governments to strengthen trade ties, are encouraging more and more Indian Companies to expand their trade with Poland.

The Gross Domestic Product (GDP) in India expanded at an annual rate of 8.80% in the last reported quarter. From 2004 to 2010, India's average quarterly GDP growth was 8.37%, reaching an historical high of 10.10% in September of 2006 and a record low of 5.50% in December of 2004. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points.

Trade between India and Poland has grown remarkably from US$636.92 million in 2007-08 to US$808.42 million in 2009-10. In a major boost to bilateral trade, both the governments have decided to double total trade by 2014. Furthermore, the Polish government is offering incentives to Indian firms and encouraging investments in services and manufacturing sectors.

Poland’s strategic location in the heart of Europe makes a lucrative destination for Indian enterprises. The small business sector of both India and Poland has immense potential, but is not being fully utilized.

India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force.

Thus, in the present and the future, business between India and Poland will grow at a faster pace.

India – Competitive Advantage:

• One of the largest economies of the world.
• Strategic location - access to the vast domestic and South-Asian market.
• A large and rapidly growing consumer market - up to 300 million people constitute the market for branded consumer products.
• Foreign investment welcome; approval is required but is automatic in priority industries.
• Exchange controls reduced and the Rupee made convertible.
• Skilled manpower and professional managers available at competitive cost.
• One of the largest manufacturing sectors in the world, spanning almost all areas of manufacturing activities.
• Established free market infrastructure.
• Special incentives for export activities.
•  Sophisticated financial sector.
• Vibrant capital market with over 9,000 listed companies. 

Is it easy to do business with India?

India is a complex country and foreign business people will realize quickly that the path to success is not smooth. India is a land of contrasts and a unique blend of Indian-Western values. People from different socio-economic strata, educational backgrounds, class and religion may behave very differently. India is a very complicated and unorganized market to do business with, and it’s confusing and time-consuming to deal with Indian businesses. One of the main reasons is due to a lack of understanding of Indian business culture and etiquette. It’s completely different from anywhere in the world. For example, Indians never say “no”, and a “yes” in India does not mean yes. So what can you do about it?