The first conference of the Indian-Croatian business club “How to do business with India” was held under the auspices of the Ministry of Foreign and European Affairs, and the main topics were cooperation between Croatia and India, business between the two countries and the very current problem of labor shortage.
ALTPRO participated as a sponsor of the conference, and Tin Viduka, a Board member of ALTPRO, is also the new president of the Indian-Croatian Business Club, which has been active for many years and gathers Croatian companies operating in the large market of India.
In addition to club members, the conference was attended by numerous guests from the business community and officials, including the Indian ambassador to Croatia, the state secretaries of MINGOR and MUP, and numerous other government representatives. Particularly interesting were the panel discussions “Experiences of doing business with India” and “Challenges of the workforce in the Republic of Croatia“, which were attended by representatives of companies such as ALTPRO, Infobip, JGL, GDi, Skilled Labor, Pivac and others, who were able to describe first-hand their experiences in the large Indian market.
“We have almost 20 years of experience in communication with Indian Railways, and bigger projects and jobs started when we found the right partner. Indian railways build more than 2,500 kilometers of tracks per year, and procurement of trains and locomotives is practically daily. The business potential on that market is significant, not only for our company, but for any Croatian company interested in exporting,” said Tin Viduka, a member of the ALTPRO Management Board.
India, the fastest growing Asian economy, became the world’s most populous country this year. India’s strengths include an abundance of cheap labor, low cost of production, openness to investment and business-friendly policies. According to OECD data in 2021, India’s working age population is more than 900 million and this number is expected to continue to grow.
India is expected to achieve the best results of all major economies this year. The World Bank estimates its growth at 6.6 percent, and if it manages to maintain its momentum, according to estimates – in 2026 it will overtake Germany as the fourth largest world economy, in 2032 it should take third place, and by 2035 it should become the third country with with a GDP of more than 10 trillion dollars.