Hello India News Correspondent, Shikha Singh took the opportunity to interact with
Ada Dyndo, Head of Foreign Trade Office in Mumbai, Polish Investment and Trade Agency (PAIH) speaks on the impact created by Covid-19 pandemic between Poland and India on business relations and trade.
Shikha Singh: Madam, brief us on your experience amid the Covid-19 induced lockdown in Mumbai as the financial hub is most affected by the Covid-19.
Ada Dyndo, Mumbai boasts of being referred as a financial hub and business capital of India as at the headquarters a number of financial institutions and companies (such as Bombay Stock Exchange or Tata Group, Reliance Industries) are located here. What most of the people in Poland don’t know, Mumbai is also a major Indian hub for international flight and busiest single-runway airport in the world.
In view of the fact that Mumbai is the most populous city in India (with the current estimated population of 18,4 mln people) and growing number of cases the lockdown in the city has been very strict. Maharashtra has extended till August 31 and people still work remotely. Most of the businessmen and businesswomen keep postponing the new projects till the situation will be stable and they will be back to their offices. I have been living in Mumbai for almost three years now and in India for almost five years. It has been the first time I have seen Indian streets, usually very vivid and busy, so quiet and empty. Since the introduction of nationwide lockdown in March, people were acting responsible and cautious by staying at home.
Shikha Singh: Madam, kindly share your candid views on the Indo-Poland trade relationship?
Ada Dyndo: Poland is India’s largest trading partner in Central Europe and bilateral trade between the countries has been growing steadily in recent years. India imports from Poland coke, semi-coke, retort coal, machines and mechanical and electrical devices and their parts. Poland is famous for good quality food products, new technologies, video games among others. Moreover we have identified sectors like green technologies, waste management and food processing, which have high potential for cooperation with India.
Shikha Singh: Madam, Your vision on the Indo-Polish relationship especially in the business sector?
Ada Dyndo: The area that is very promising for Poland-India business collaboration is a cosmetic sector. In major Indian cities you can find shops of Polish colour cosmetic brands such as Inglot and Paese. With the outbreak of COVID-19 and growing environmental consciousness, customers are looking for natural products. The trend will continue even after COVID-19 era in India therefore customers can take a look at Polish dermo-cosmetics, mineral make-up and body care products. They would be an interesting choice for people living in big cities such as Mumbai, where beauty and personal care market is growing rapidly.
Shikha Singh: Madam: To what magnitude has Indo-Polish trade impacted by this COVID pandemic?
Ada Dyndo: It is too early to assess the total impact of the COVID-19 on the bilateral trade. The pandemic has indeed affected business disruption, supply chain and in effect the bilateral trade numbers. The bilateral trade numbers for the first four months of 2020 shows that Poland to India export decreased by 15,6%. However it is too early to assess the total impact of the COVID-19 business cooperation.
Shikha Singh: Madam, Indo-Polish relationship has been very cordial, so given the damage done by the spread of Covid-19, how do you look at the future relationship between the two countries?
Ada Dyndo: I believe that business will recover quickly as soon as the situation will be under control and regular international flight services will be resumed.
India has recently signed air corridors with five major trading partners and allows specified categories of businessman to enter the country. It will contribute to bringing the economy back to normal and help resume some business activities. As soon as it will be safe to meet in person and discuss the business cooperation face to face, we will be able to develop further good relationship between Polish and Indian companies.
Shikha Singh: Madam, Your valued suggestion to all businessmen and counterparts amid the present tough time?
Ada Dyndo: I would like to encourage Indian businessmen to take a look at Polish products and Poland as one of the investment destinations. Poland is located in the heart of Europe, which makes it a perfect investment location for companies wishing to export products both to the East and to the West.
Shikha Singh: Finally your candid personal message to the viewers of Hello Mumbai News?
Ada Dyndo: Please keep safe and keep positive about future business projects hopefully with Polish companies.
News Report by: Shikha Singh