European Union said on Wednesday Madhya Pradesh may become a preferred investment destination for European nations. The potential areas are engineering, graphite, agri-processing, knowledge-based economy,textile, garment, research and development.
“This state can have trade relations with European nations in areas of engineering, graphite and research and development,” said Claire Durkin, director Europe, International Trade and Development. Today she called on various officials to explore possibilities in various trade areas besides humanitarian sectors; education, health and women empowerment.
“India exports a considerable size to EU and we want to establish 21st century sophisticated trade relations with India, as you are an emerging economy,” she said.
“I am looking at trade relations that can create more jobs to India and give more jobs to Europe, before the US taps the opportunity,” she said.
She also said she wanted to add value chain to textile and garment sector. “There is a potential in organic agri-products and EU can certainly help India, so that you can fetch more returns. However, India and the state needs strong business chambers to showcase its potential,” she added. She also felt need of stress on the climate change agenda where research and development has wider scope. “You have green agenda, exploit it,” she advised.
MP exports yarn, engineering goods and soya-products to EU nations. However, the size of the export basket is not yet known. The engineering goods manufacturing units largely use German and other European-made machines, which also make the state a first choice of investment for EU.