An event has taken place in Dublin to launch a new Ireland-India Economic Advisory Panel.
The initiative is aimed at strengthening economic and strategic ties between the two countries.
It brings together leading figures from Indian industry, who have connections with Ireland, alongside Irish policymakers and experts.
The group has been set up as part of the Government's Action Plan for Enhancing Engagement with India, which was approved in March.
The plan committed to establishing "as a strategic priority" deeper political, economic, and cultural ties with India, which has a population of around 1.4 billion people.
Trade between Ireland and India has increased from around €4 billion a year in 2012 to €16 billion in recent years.
The advisory panel has been tasked with offering strategic advice on how Ireland can "enhance its visibility, trade profile and footprint in India."
The members include the Chief Executive of Biocon and Ireland’s Honorary Consul in Bangalore, Kiran Mazumdar-Shaw, and the Chairman of the Tata Trusts, Noel Tata.
The Tánaiste and Minister for Foreign Affairs and Trade launched the inaugural session at the Department of Foreign Affairs this evening.
Simon Harris said India is a country in which Ireland already has a good trading relationship, but he said "we believe we can do a lot more."
"There's definitely potential to do more and at these times of huge economic uncertainty and turbulence, we've got to identify new market opportunities."
Mr Harris said the members of the panel have "offered to help and assist in providing advice to government and to business, in terms of how to develop those relationships further from a business perspective."
He said the Government wants to "help make it as easy as possible for Irish businesses to do business in India."
"We hope to conclude at an EU level this year, a free trade agreement between India and the European Union and that could unlock huge potential," he added.
