Creativity - IDA Ireland

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» IRELAND INDIA LINKS INDIA is now Grainne Rothery talks to DAVID CARTHY, a corporate partner in William Fry and chairman of the Ireland India Business Association, about the developing links between our two very different countries W ITH A POPULATION OF MORE THAN A BIL- LION PEOPLE, ONE-FIFTH OF WHOM ARE NOW MIDDLE CLASS, AND ENVIABLE GROWTH RATES, INCLUDING A 9.6PC IN- CREASE IN GDP AT MARKET PRICES IN 2010, INDIA IS FAST BECOMING ONE OF THE WORLD’S ECONOMIC SUPER POWERS. Indeed, PwC has forecast that it will be the second largest economy by 2050, just behind China. But far from being a prospect for tomorrow, the sub-continent represents a very real opportunity for forward-thinking Irish businesses today, says David Carthy, a corporate partner in William Fry and chairman of the Ireland India Business Association (IIBA). “There was a view that China was a ‘now’ opportunity and India was for five years’ time,” he says. “That’s essentially wrong. The time is now for both.” Carthy has been chair of the IIBA since it was founded in May 2008 as a member-driven, non-profit organisation to facilitate knowledge sharing and networking and to ultimately increase commercial links – in both directions – between Irish and Indian businesses. “There was a need for a private sector group to act as a chamber of commerce for the Ireland/India business relationship, which people can see a lot of potential for, but the figures and the amount of trade weren’t where we would have liked them to be,” he explains. There’s a strong focus on growing the relationship both ways. “It’s about growing the amount of Irish business done in India and within India, and growing the amount of Indian business done with Ireland and in Ireland.” Knowledge sharing is a fundamental part of the IIBA’s activities. “Previously, when you had Irish businesspeople going to India or vice versa, everything was new and they were all pioneers,” says Carthy. “Those who had gone before would have made certain mistakes, reaped certain benefits and formed certain contacts that could be very useful.” 72 INNOVATION IRELAND REVIEW Issue 2 Spring/Summer 2011
IRELAND INDIA LINKS » ‘There was a view that China was a ‘now’ opportunity and India was for five years’ time. That’s essentially wrong. The time is now for both’ Issue 2 Spring/Summer 2011 INNOVATION IRELAND REVIEW 73
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INNOVATION IRELAND REVIEW IN ASSOCI
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» CREATIVE ECONOMY Mother of Inven
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» CREATIVE ECONOMY ‘Brainstormin
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» IN BRIEF In brief NDPTOUPATHLONE
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» IN BRIEF FIVE RESEARCH PROJECTS
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» IN BRIEF AMGEN TO BUY PFIZER’S
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» IINDUSTRY FOCUS ‘In certain ar
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» IINDUSTRY FOCUS ‘This is a rea
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» LIFE SCIENCES Award-winning univ
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» COMPETITIVE LANDSCAPE ‘In many
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Page 24 and 25: » THE IRISH MIND A passionate Euro
Page 26 and 27: » THE IRISH MIND ‘Inawayyou can
Page 28 and 29: » RESEARCH Tyndall National Instit
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Page 32 and 33: » INTELLECTUAL PROPERTY Renowned i
Page 34 and 35: » INTELLECTUAL PROPERTY Mark 1 eye
Page 36 and 37: » FREEZEFRAME » MICRO NAZCA By Ja
Page 38 and 39: » FREEZEFRAME » CONCRETE CHRYSALI
Page 40 and 41: » FREEZEFRAME » REACHING FOR HEAV
Page 42 and 43: » FREEZEFRAME » CLIMATE CHANGE -
Page 44 and 45: » SMART IRELAND Gene ‘We are inv
Page 46 and 47: » SMART IRELAND for the first time
Page 48 and 49: » DIGITAL WORLD ‘The cloud is a
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Page 52 and 53: » DIGITAL WORLD Bell Labs' Dr Fran
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Page 56 and 57: » MANAGEMENT INNOVATION ‘Part of
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Page 60 and 61: » INTERVIEW Gearing up for sustain
Page 62 and 63: » INTERVIEW In his role, Wienholt
Page 64 and 65: » INTERVIEW DIFFERENT STROKES Whil
Page 66 and 67: » ARTS & CULTURE ‘Being able to
Page 68 and 69: » ARTS & CULTURE MEDIA IMPACT Down
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Page 74 and 75: » IRELAND INDIA LINKS The IIBA is
Page 76 and 77: » INDIA IRELAND LINKS A little lux
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