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Pune: As Indian companies look towards Europe to expand their business, setting up base in the continent would become a business imperative for the country’s automotives industry, said Robert Schipper, executive director of the Netherlands Foreign Investment Agency (NFIA) on Wednesday.
    Addressing media ahead of a meeting with city-based industries,Schipper said “As with past recessions, it is an opportunity for high-growth industries in the developing economies to catapult themselves to top positions in global markets. Now would be the right time for Indian automobile manufacturing companies and auto component manufacturers to invest in the European market,to make the most of the innovation and knowledge capital present here and to stay ahead in the recovery phase.”
    Schipper said The Netherlands is geographically located such that it can ideally act as a key hub for international business and provides quick and easy access to all European markets. “In addition the Netherlands offers an international business environment, a business-friendly tax and regulatory framework, excellent infrastructure,a highly educated and multilingual workforce and an enviable quality of life making it an ideal investment destination in Europe.”
    Eelko Brinkhoff, project director for Foreign Investments for Brabant (BOM) said, “Brabant, within the Netherlands, forms the nerve centre of the Dutch automotive industry and international collaboration in the region is intensifying every year, especially with respect to the automotive industry. Indian companies can take advantage of this open collaboration network to meet world class technology standards.” For automotive research specifically, the Brabant region in the Netherlands provides the advantage of an open research network, wherein, companies can engage with institutes and researchers to conduct research on new age and innovative technologies within the sector and share research whilst working with the greatest minds in the industry, Brinkhoff added.
    “The fact that the Netherlands, with an annual turnover of twelve billion Euros, has secured a place among the global top ten countries in the automobile industry is partly due to the presence of research institutes and innovative businesses. Some 50 percent of the European car and vehicle production takes place within a 500-kilometre radius of the Brabant region,”Brinkhoff pointed out.
    “To grab a share in the global automotive market, Indian automobile companies need to necessarily focus on inculcating a high level of competence and productivity. Brabant, in the Netherlands,offers the right environment to hone this competence through their unique open research network,” Anant Sardeshmukh, additional director general,Mahratta Chamber of Commerce, Industry and Agriculture said.
    NFIA assists with critical aspects like taxation and labour laws, as well as recommend appropriate experts like lawyers and accountants to assist with the due diligence and acquisition process. NFIA’ matchmaking service can also assist companies in finding an appropriate technology partner as per their needs. All NFIA services are provided free of charge and on a confidential basis. NFIA supported 182 foreign investment projects in 2008, of which 101 were initial establishments, Schipper said.