Enterprise Ireland is to open an office in India in a bid to establish new trade opportunities, it was confirmed today.
The state agency, which supports Irish firms attempting to reach new markets, will establish a base in India's largest city, Mumbai.
The Taoiseach, Bertie Ahern, who is in India as part of a major trade delegation, said the office was being opened in line with the Government's 'Asia Strategy' targeting trade opportunities in countries like Japan, Korea, Singapore, Malaysia, Indonesia and Vietnam.
Mr Ahern said: "Close on 60 Enterprise Ireland clients are now established exporters to India - up from 30 in 2000.
"This office will help further increase these numbers and will play a pioneering role in encouraging and facilitating access to new business opportunities flowing from India's economic vigour that will accelerate market entry and drive export growth."
The Taoiseach said the scale of opportunity for Irish companies in Mumbai and throughout India is enormous.
"We are determined to demonstrate to existing and potential new customers that Irish companies have got what it takes to compete for and win their business," he said, adding that India was a priority market in the Asia Strategy.
Mr Ahern is accompanied on the trade mission to India by three Cabinet ministers and over 120 business leaders from north and south.
As the 11th largest economy in the world, India is an attractive prospect for Irish companies seeking new markets for their products and services.
India is currently Ireland's 37th largest trading partner and, according to 2004 figures, bilateral trade was worth €262 million.
Mr Ahern said both Ireland and India have developed strong IT and software industries over the past few years.
"We are both positioning our economies to be significant players in the evolution of the Information Society," he said.
"We in Ireland know about the great success story of India's software sector. Over the past 10 years, the growth and development of Indian software, as part of your country's IT industry, has been truly spectacular. Similarly, software has been one of the key drivers of Ireland's economic growth."
Enterprise Ireland will work both with Irish companies and with companies in India to create new trade opportunities to benefit both countries.