New Delhi, May 12 (FN?Representative) Lithuania is a business-friendly country not only for young entrepreneurs and skilled professionals but is also trusted by high calibre companies, said Diana Mickevi?ien?, Ambassador of Republic of Lithuania to India. During her interaction with CII, she spoke about the bilateral trade and business economy between India and Lithuania on Friday. The Ambassador highlighted that Lithuania is a business-friendly country not only for young entrepreneurs and skilled professionals but is also trusted by high calibre companies. She further focussed on the two indicators about doing business in Lithuania.
First, about Lithuania achieving the 11th position in the World Bank’s Doing Business report measuring business conditions. Encouraging companies to do business in Lithuania, she said, ” Starting a business in Lithuania usually takes 3 days. The second being the internet penetration and IT infrastructure – which is one of the best in the world. Lithuania is usually among the top 3 countries in terms of speed of internet. The country, full of young people, ambition, energy, skill, and talent, equipped with Europe’s fastest internet connection and rapidly growing start-up ecosystem. ” Speaking about the focussed industries, namely IoTs, Biotechnology, Cyber Security and Fintech, Mickevi?ien? said, ” Lithuania has partnered with Tata Consultancy Services for 2 projects in biometrics (Aadhaar). A Lithuania team has also helped in setting up of the National Cyber Security of Bangladesh. ” While highlighting the future of Biotechnology, she said this will be the new star in the economy of Lithuania.
She further said, ” Biotech is targeted to be 3 per cent of GDP by 2030 and Lithuania has already achieved its target before the timeline. Lasers is another market wherein about 90 per cent of total world market production is dominated by Lithuania. ” Further highlighting the advantages of Lithuania – she said, ” It is a transport and logistics oriented country. It has Non-freeze, ice-free ports. ” Lithuania experiences equal number of tourists as its population. Lithuania has 2.6 million of tourists footfall. For tourists, it is an area of free movement. Speaking about the business opportunities, she said, ” Darjeeling Tea and Indian Textiles are very popular in Lithuania, businesses can explore of setting up of hubs in Lithuania and export it to other European nations. There are interactive channels that a business can explore for setting up of business in Lithuania. Last year, India opened its embassy in Lithuania. ” She ended her interaction stating that Lithuania will host the NATO summit in July, this year, where the NATO heads are expected to participate at the summit.