India-Latvia Business Conference in Riga on 24 - 25 May 2017

  1. The Embassy of India to Sweden and Latvia and the Ministry of Economics of the Republic of Latvia, in collaboration with its Indian and Latvian partners, are organizing the first India-Latvia Business Conference in Riga, Latvia, on 24 - 25 May 2017. The Conference will be inaugurated by H.E. Mr. Arvils Ašeradens, Deputy Prime Minister and Minister for Economics of the Republic of Latvia, and H.E. Mr. M.J. Akbar, Minister of State for External Affairs of the Republic of India, in the forenoon of 24 May 2017. Representatives of apex business forums, Central and State Governments, and business community of the two countries, among others, will be participating in this 2-day Conference, which is planned to hold a number of parallel seminars and round tables, covering several prime sectors to promote mutual trade and investments, with greater focus on promoting Indian Exports to the European Union (EU), Russia, and the CIS. 
  1. The event will impart authentic and up-to-date information by Latvian, EU and Indian experts on infrastructural advantages, legal aspects, European Commission regulations and compliances, and financial and tax benefits for doing business in Latvia, EU and India. It will also provide an excellent platform for exchanging sector specific information and for holding B2B meetings.
  1. Latvia, with its three free ports, is situated in close proximity of affluent economies of Europe and Russia. The entire European Union – being borderless and allowing free movement of labour, goods and services – is projected as a single entity for the purpose of trade and commerce. With one of the cheapest logistic facilities in Europe, Latvia serves as a gateway to Europe, Russia, CIS and other Baltic countries. Latvia as a member of Schengen Visa Regime facilitates free movement within Europe’s Schengen Area in which internal border checks have largely been abolished. Automated Latvian ports offer good Ro-Ro connectivity, inter alia, to Scandinavia, Germany and Russia. Latvia is a partner country in the EU's high speed 'Baltic Rail' project, a Euro 5 billion project, connecting Berlin (Germany), Warsaw (Poland), Kaunas (Lithuania), Riga (Latvia), Tallinn (Estonia), St. Petersburg (Russia), and Helsinki (Finland). Efforts are also on to develop India-Baltic Rail Corridor. Latvia, thus, holds a vital position in Europe.
  1. There are excellent opportunities for Indian Exporters to make Latvia a distribution hub for their businesses and avail of efficient and affordable connectivity to transfer goods within EU, Russia, CIS and other Baltic countries. 
  1. Latvia offers good opportunity to Indian companies to participate in infrastructural development in Latvia being funded by EU. Indian companies seeking to establish industries in Latvian free ports/SEZs can avail of subsidy on their investments in plant and machinery in addition to substantial tax rebates. Indian Industries can avail of EU funding for advance research activities in Latvia. The Indian film industry seeking to use the Latvian studios can also avail of subsidy. Further, Latvia offers liberal immigration schemes to attract Foreign Entrepreneurs.
  1. The Conference is planned, among others, to hold discussions in different segments covering – Latvian, EU and Indian business regulations and compliances and tax benefits; Latvian and EU funding to promote R&D and innovation and infrastructural development; Transport & Logistics; IT & Electronics, including e-Governance; Astronomy; Aviation; Defence; Textiles; Life Sciences including healthcare, Ayurveda, Yoga and Pharmaceuticals; Metal industries; Baltic Rail project; Timber & Forestry; India’s flagship initiatives including Make in India, Digital India, Skill India, etc.; Food processing and agro products and FMCG; and Higher Education collaboration.
  1. The main seminars and roundtables and B2Bs will take place on 24 May, while site visits will be organized on 25 May 2017.
  1. Interested participants are requested to register online on the Embassy of India to Sweden and Latvia website to confirm their participation in the event at the earliest possible, preferably by 15 April 2017, to enable us to firm up programme for different segments and logistical arrangements accordingly.
  1. Any queries regarding the above event may be emailed to: commercial@indianembassy.se

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