The IDA Ireland, the Irish Government’s foreign investment agency, has appointed Tanaz Buhariwalla as the director of their India office for spearheading the Indian operations of IDA Ireland which involves promoting Ireland as an operational base for Indian companies expanding their presence in European markets.

Martin Shanahan, chief executive officer, IDA Ireland commenting on Tanaz Buhariwalla’s appointment says, “Over the last 5 years, Tanaz has been instrumental in growing IDA’s business in India. India is a strategic market for IDA Ireland and is thus being accorded high priority within the organisation. We have appointed Tanaz to this role due to her appreciation, experience, understanding and connections in the Indian market.”

Buhariwalla says, “As part of my new role, I look forward to strengthening IDA Ireland’s outstanding position in the Indian market. Indian companies are increasingly assessing Ireland as an attractive investment destination and also as a gateway to access the European markets. Close to 40 Indian companies have already set up base in Ireland. Last year Indian companies setting up and consolidating their presence included Infosys, NIIT, Tech Mahindra and this year it is expected about 6 Indian companies will follow suit. So far, prominent Indian companies such as HCL, Wipro, TCS, Wockhardt, Deepak Fastners, and Crompton Greaves amongst others are providing employment to over 3,200 people, and are planning to expand.”

Prior to joining IDA Ireland, Tanaz worked for the British High Commission in India helping British companies do business in India and Indian companies set up in the UK. She has also represented the NW of the UK in India - promoting business, research and academic collaborations between corporates and academia in India and the NW of the UK. Tanaz is a commerce graduate from the Mumbai University and holds a masters degree in change management from the Open University, UK.

Ireland is targeting companies in the area of technology, business services, life sciences, medical technologies and high-end manufacturing. Encouraged by the success and the response from Indian companies so far, IDA Ireland’s India team plan to double the number of Indian investments into Ireland by 2020.

There are 1,250 global companies located in Ireland of which 120 are overseas bio-pharma facilities. The life sciences sector alone provides 50,000 jobs in Ireland. Nine out of the top pharma majors have facilities here. In 2014, the country was the 7th largest exporter of medicinal and pharma products. Out of the total $200 billion exports, pharmaceuticals and med-tech account for $80 billion earnings. Almost 30 per cent of the exports are from the pharmaceutical sector generating revenues of $64 billion. There are over 75 pharmaceutical companies in Ireland with 33 FDA approved plants. In fact, Ireland accounts for 33 per cent of the world’s contact lenses, 25 per cent of injectable devices for diabetics, 75 per cent of knee joint implants, 50 per cent of ventilators and 95 per cent of the Botox drug is produced here. From finished formulations to bulk drugs, bio-pharmaceuticals, generics and diagnostics, Ireland is home to many global names including Pfizer, Amgen, Johnson & Johnson, Allergan, Abbott, GSK, Roche, Lilly and Alexion.