The possibility of importing raw material from Austria  and Switzerland, for manufacture of components meeting the design and  quality requirements of those countries for exporting back to them,  would be explored during the visit of the Indian business delegation  accompanying the President of India to those countries from October 3,  according to the President of the Coimbatore District Small Industries  Association, Mr M.Kandhaswami.
He would also look at  the opportunity of using the two European countries as the launch pad  for reaching out to the Euro Zone market as some of the industries in  Coimbatore region have clients there .
 The Codissia  President, who is a member of the CII business delegation accompanying  the President, Ms Pratibha Patil, during her visit to Austria and  Switzerland from October 3-6, told Business Line  the main aim of  the visit was to promote business relationship between India and the  two European nations. The delegation was going with an open mind as `we  have to find market’ for our products.
Mr Kandhaswami  said the European countries, because of environmental concerns, were  phasing out foundries, spinning units and paper mills and he sensed  business opportunities in these sectors for the region.
He  said during his discussions with the industrialists in the Coimbatore  region, he found that many companies here were being supplied with raw  materials like steel alloys by European nations for manufacturing  finished products on a job work basis since they were able to source the  raw materials cheaper elsewhere whereas the labour and processing were  cost competitive in India. Mainly auto and textile components and  general engineering goods were produced on a job work basis in the  region for export meeting the design and quality parameters of their raw  material suppliers. He said he would like to take this process forward.
The Codissia President said the two nations have  also expressed interest in investing in Indian companies and to become  partners. He felt that while the MSMEs in the region may not be keen to  allow foreign equity in their companies, they would be ready to have  technological tie-ups and buy back arrangements with Austrian and Swiss  companies.
Conceding that the potential of Austria  and Switzerland was limited because of their size, he said that he would  like to enquire whether these countries could be utilised as storage  hubs for supplying products to the European countries just as Dubai or  Bangladesh are used for reaching out to markets in the neighbouring  regions. Already many Coimbatore engineering companies were exporting to  countries like Germany and this possibility merited consideration.
He  said he would also invite the Swiss companies, some of which supply  precision machines to Coimbatore companies, to participate in the  forthcoming INTEC exhibition organised by Codissia. Apart from him, the  five-member CII business delegation has members from Kolkata, Delhi and  Bangalore.