ISCC signs agreement with FKCCI to boost Foreign Investment

New Delhi: The Indo Spanish Chamber of Commerce (ISCC) organised a business  forum on June 25, 2024, in Bengaluru highlighting “Spain/EU-India Economic Corridor with focus on the  State of Karnataka (India)”. The conclave that brought companies from six different EU countries,  encouraged business collaborations with and within the State. It was attended by the guest speakers  Mr. K Jayakishan, Managing Director, Infrastructure Development Corporation (Karnataka) Limited (iDeCK)  and Mr. Sanjeev Kumar Gupta, CEO, Karnataka Digital Economy Mission (KDEM), both from the Government  of Karnataka. The senior officials emphasised on investment opportunities available for European companies  in the fields of infrastructure and technology among various industry sectors, and shared the indicators that  could create synergies between Karnataka and the EU. 

Mr. Jayakishan (iDeCK) reiterated the vision of the Hon’ble Chief Minister of the State to make Karnataka a  US Dollar 1 trillion economy by 2032. He underlined the roadmap to this prophecy and how various industry sectors could help achieve the targets through FDIs to the State. To name one of the major projects in pipeline, he welcomed technological advancements from Europe,  especially Spain, to the Economic High-Speed Corridor, being planned between the cities of Bangalore and  Mangalore within the State.

On the other hand, Mr. Gupta (KDEM) stressed upon international cooperation in the emerging space of  technology in the state of Karnataka and how European companies especially from Spain could  contribute actively to this technology space. 

The august panel to the above session was also represented by the Chairperson (Intl. Affairs) of Federation  of Karnataka Chambers of Commerce and Industry (FKCCI) and the Regional Director of the Indo-Italian Chamber of Commerce and Industry (IICCI) along with the European companies Tecnicas Reunidas SA - Energy Sector (Spain) and Biesse - Machinery Sector (Italy).

The entire session had senior representatives and  member companies from the Chambers of  Commerce of Spain, Germany, France, Italy,  Sweden, Finland, CII and FKCCI. 

The occasion concluded with an MOU signing  moment between ISCC and FKCCI, with both the parties agreeing to enter into a cooperation agreement to strengthen the economic and trade ties between Karnataka (India) and Spain.  

* ISCC is the official Chamber of Commerce of the Government of Spain in India, endorsed by  the Ministry of Trade, Industry and Tourism in 2019. The most representative Spanish companies operating in India are its members. ISCC is member of FEDECOM (the network of  Spanish chambers abroad) and have signed MoUs with Indian and Spanish associations to  promote and strengthen the business and trade ties between India and Spain. 

* FKCCI, earlier known as the Mysore Chamber of Commerce, is an apex body of various  Chambers of Commerce of the State of Karnataka. FKCCI is not only one of the five foremost  Chambers of Commerce in the country (established in the year 1916), but also the oldest  parent chamber of any state in India. Currently, the membership at FKCCI stands at 3000  direct members and more than 250000 indirect members, spread over the State of Karnataka, including 26 District Chambers of Commerce and 135 Trade Industry Association. The  Federation is also a member of national bodies like FICCI, ASSOCHAM and the International  Chamber of Commerce (ICC). 

The efforts by ISCC and FKCCI would lead to greater business platforms/opportunities for collaboration between Spanish and Indian firms. 

ISCC is committed to creating many more such collaborations for the benefit of its member companies.