Lithuania can be gateway for India to expand presence in Europe, says envoy

New Delhi, Feb 7: Led by one of the youngest governments in the world, Lithuania is looking to broadbase ties with India in high-growth areas and Indian companies can use the Baltic nation as a “gateway” to expand their presence in Europe, its ambassador Julius Pranevicius said on Sunday.
The envoy said the new Lithuanian government was keen on expanding collaboration with India in areas of financial services, life sciences, digital technology and pharmaceuticals, and promised to offer a dynamic business environment to Indian investors.
The Baltic nation has fast emerged as a burgeoning fintech hub in the world on the lines of Luxembourg with leading global financial services and digital technologies companies setting up bases in the country.
Lithuania’s new dispensation led by Prime Minister Ingrida Simonyte, which assumed office in December, is being hailed as one of the world’s most gender-balanced and young governments.
Out of 15 members in the cabinet, seven are women and nine ministers are under the age of 40 years. Pranevicius said the “young” government of Prime Minister Simonyte is leading Lithuania with “new energy and dynamism” with a focus on high-growth areas for economic growth, and the relations with India stand high on its priority.
Lithuania, a prominent Baltic nation, is a member of the powerful NATO (North Atlantic Treaty Organisation) as well as the European Union. In a historic first for the country that regained its independence following the collapse of the Soviet Union in 1990, the new government was formed by three conservative parties which are all led by women.
The main agenda of the government is to deal with the challenges of the coronavirus crisis as well as to focus on growth in futuristic areas for strengthening Lithuania’s economy and make it a hub of new innovation and technologies. “The new government is looking at expanding cooperation with India in the emerging areas of financial services, life sciences, digital technologies, pharmaceutical and education,” Pranevicius told PTI.