Lithuania Holds Big Promise For Indian Investors: Alina Adomaityte
Alina Adomaityte, Senior Business Development & Strategy Leader in Lithuania, is well known for her efforts in bringing global investments in Lithuania. She is also the Founder and CEO of the Innoera Group, a leading Business Consulting Group in Lithuania. Innoera Group prides itself in structuring and attracting private investment with support from European Funding, World Bank and leading local commercial banks.
At the ongoing Women Economic Forum 2018, Alina spoke about the scope of bilateral trade between India and Lithuania and how Lithuania could offer a new window of opportunity for Indian businesses in Europe.
How do you see the scope of business relations between India and Lithuania?
India and Lithuania already share good bilateral relations. India is looking at this partnership to target the European markets, USA, Canada and even Scandinavian countries.
Given Lithuania’s strategic location, Indian businesses are investing in Lithuania and using it as a bridge to get into the European markets. This partnership can also benefit in a reverse way if business houses from Lithuania could invest in India to tap the huge market that the country offers. I would say Lithuania holds big promise for Indian investors in the long run.
For investors looking at setting up business in Lithuania, which sectors hold the biggest promise?
Our big focus is agriculture and innovation. Lithuania is number one in lasers and robotics. Since Middle Eastern countries are looking at newer technologies, we have seen a significant growth in those industries in Lithuania. Moreover, we are also looking at sharing our expertise with potential investors. Many of our scientists are already associated with Middle Eastern companies and sharing their expertise in technology. When it comes to business relations with India, we are already working with textile companies and there is big potential for setting up agriculture business in Lithuania.
What steps has the Lithuanian government undertaken to make the country a convenient hub for foreign investors?
They are giving financial support to investors in order to help them establish their business. Moreover, with existing simple taxation and regulatory framework, companies could easily benefit by setting up operations in Lithuania. In the last ten years we have helped companies get this support from the government.
What would you call the biggest challenges that are holding back the companies from investing in Lithuania?
There are no major challenges as such. As stated, we have the friendliest and efficient business regulations in place already. Some of the minor issues are related to making visa norms more streamlined and the government is already working to amend it.
Which countries are the biggest investors in Lithuania?
The biggest investor undoubtedly is the United States. This is mainly because they see Lithuania as one of the fastest growing economies in the region. After the USA, it is the Scandinavian countries that have invested heavily in Lithuania. Looking at the promise that Lithuania holds, the Middle East and Indian companies may soon emerge amongst the biggest investors in Lithuania.
Finally, could you share your experience of the Women Economic Forum 2018?
It is a great platform to bring women leaders together. I feel privileged to be part of this big platform and I thank the organizers for inviting me as a special guest this year.
