FROM Ranbaxy and Wipro to Mahindra & Mahindra and Genpact, one place in which all Indian want to have a service or manufacturing unit in Europe is Romania. With cheap labour, 100% FDI in all sectors, and transparent tax laws, Romania is becoming the outsourcing destination in Europe. Wipro recently announced a centre in Romania to service its French customers. India’s largest BPO Genpact has a centre in Bucharest.
Said Ernst & Young’s partner in Romania, Venkatesh Srinivasan: “There is 16% corporate tax in Romania as compared to 34% in India. There are no FDI limits and anybody can buy land. The EU accession of Romania in 2007 is predicted to boost its economy.”
