EU to invest in new economy cos

Kolkata: Companies in the European Union (EU) are exploring possibilities of investing in the IT, ITES and biotechnology sectors in India, according to Dr Dietrich Kebschull, Chief Programme Co-ordinator, EU-India Trade and Investment Development Programme.

Speaking to newspersons after a round table discussion on ‘Destination West Bengal: IT & Biotechnology’ organised here today by the Programme, Dr Kebschull said companies in the EU were keen to invest in “shooting star” industries in India, such as IT, ITES, biotechnology, auto components and chemicals and pharmaceuticals.

Emerging economies

“Awareness about India in the EU has increased in the last three years. Earlier, when companies in the EU were looking at emerging economies they were thinking of the South Asian Tigers.”