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Karnataka and the Wielkopolska region of Poland have signed a letter of intent (LoI) for economic cooperation between two states.
The LoI, signed in the presence of the Karnataka minister for industries, R V Deshpande, is to explore the prospects for development of economic relations between Karnataka and the Wielkopolska region and to seek long-term economic cooperation in the fields of transport, infrastructure and logistics; the automotive and aviation industries; information technology and electronics; science and education; research and development; the food processing industry; protection of natural resources and the environment, including management of water resources and the medical sector.
Speaking on the occasion, Deshpande said trade between the two countries has been thriving. India has several export commodities to Poland including tea, coffee, spices, textiles, pharmaceuticals, machinery and instruments, auto parts and surgical items. India's chief imports from Poland include machinery, artificial resins, plastic material, non-ferrous metals and machine tools.
Wipro and TCS, both Bangalore-based IT companies, have a presence in Poland.
India and Poland also have good military relations, with India having awarded several high-value defence deals to Poland, including the upgrade of tanks, air defence missiles and armoured recovery vehicles.
According to data published by the Centre, India attracted $620 million in FDI from Poland between April 2000 and March 2015, making it the second highest contributor of FDI from the Central European nations. FDI from India into Poland is about $3 billion.
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