Calcutta, Sept. 25: The Welsh Development Agency (WDA), a government body facilitating investments in Wales, is encouraging small and medium enterprises (SME) in India to make Wales their base for gaining a foothold in the lucrative European market.
WDA has identified information technology, biotechnology, pharmaceuticals and the entertainment industry, as areas where it plans to direct investment into Wales. “Since IT is now being embraced by all sectors, we are paying special attention to this sector,” WDA vice-president (business development) David Muxworthy said. The Welsh body has tied up with Eurofind, an Indian company that provides marketing, sales and market research services to SMEs who want to reach out to a wider consumer base in the US and Europe.
Justifying the need for a presence in the European market, Muxworthy said, “Currently, there are 15 countries in the European Union, which means access to around 400 million consumers. This number is expected to go up to more than 600 million within the next five to eight years, with 12 more countries ready to enter EU. The opportunities that this will provide is more than the combined opportunities available in the US and Japan.”
Eurofind, which commenced operations in August this year, is touring the country along with WDA to tap entrepreneurs in the SME segment.