Indian Prime Minister Narendra Modi arrived in Warsaw on Wednesday to mark seven decades of diplomatic ties and hold political and business talks with Polish leaders.
His trip marks the first time in 45 years that an Indian head of government has visited Poland.
While current economic ties between the two countries may not be particularly strong, certain industries hold potential for dynamic growth, Polish business newspaper Puls Biznesu reported on Thursday.
Experts view Modi's visit as a major opportunity to boost bilateral trade, though challenges such as complex visa procedures and limited flight connections between the two capitals need to be resolved first, according to Puls Biznesu.
Modi’s agenda on Thursday includes a meeting with Polish companies investing in India.
Poland exports primarily machinery, mechanical and electronic equipment, minerals, non-ferrous metals and plastics to India. Conversely, India exports electronics, iron, steel, pharmaceuticals and clothing to Poland. There is still considerable potential for growth in the AI sector and the gaming industry, according to pb.pl.
Last year, Polish investment in India amounted to USD 685 million, while Indian investment in Poland exceeded USD 3 billion. From 2013 to 2023, trade between Poland and India grew by 264 percent, from USD 1.15 billion to over USD 4 billion. Polish exports to India totaled USD 1.7 billion, while imports from India to Poland were worth USD 2.32 billion.
The share of India in Poland’s merchandise exports is continually increasing, as is the Indian diaspora in Poland, which has grown tenfold over the past decade to around 23,000 people. This includes not only immigrant workers but also about 3,000 students studying at Polish universities.
(mp/gs)
Source: IAR/pb.pl
