e-Trade Mission to India: a very encouraging success

The Monaco Economic Board (MEB) dropped in on India, albeit remotely, for an e-Trade Mission on Tuesday 16 March, organised under the aegis of Monaco’s Embassy in India in partnership with India’s Embassy for France and Monaco. To set it up, MEB worked closely with the Indo-French Chamber of Commerce and Industry (IFCCI) and was supported by the Principality of Monaco’s Promotion Bureau in India. After Russia last November, feedback on this second e-Mission was more than convincing.  

It follows on from an MEB mission in 2019 to New Delhi, in the wake of an official visit by HSH Prince Albert II, when MEB established contacts with its counterparts by signing partnership agreements. One-on-one meetings were also arranged for the Monegasque entrepreneurs who made the trip. This second mission proved just as constructive, opening with bilateral presentations on both countries’ economies, a chance for participants to learn more about their advantages and that, despite the differences, they share common traits with potential to do business.

India’s Ambassador, H.E. Mr Jawed Ashraf and key figures in the business world, focused on sectors with potential such as finance, innovation, renewable energy and trade. The Senior Country Officer for India of Crédit Agricole CIB, in partnership with Crédit Agricole in Monaco, gave an overview of the macroeconomic and regulatory framework when entering agreements with Indian companies. The forum was open to all and can be reviewed  (in french) HERE.

In the second half, 13 Monaco companies* represented by 19 senior staff had one-to-one meetings with targeted individuals, thanks to the invaluable work put in prior to the event by MEB and IFCCI. In total, around 50 meetings took place with each member company being offered a technical mediator and translator if required.

As was done for the first e-Mission, participants had lunch at the Yacht Club de Monaco before the event, attended by Monaco’s Ambassador to India, Patrick Médecin, and a debriefing afterwards. Feedback was particularly positive, confirmed by a satisfaction survey with 90% of contacts made cited as being ‘satisfactory’ or ‘very satisfactory’ and more than half of these showing strong potential for business.

For MEB's CEO, Guillaume Rose: “The success of this event went beyond our expectations. It confirms for us that we must continue this type of operation, even after this pandemic crisis, in addition to in-person onsite trips which are irreplaceable.”

* Aton Green Energy, Baccana Digital Consulting, Boutsen Aviation, EN-S Sports, Eurimpex, Exsymol, FGWRS, Levmet, Mindus, Pineappli, Mont-Charles (La Distillerie de Monaco), Rosemont Consulting, SSI Monaco.

Press contacts: Delphine Quilichini / Benoît Ulrich - presse@meb.mc