India-LAC investment conclave planned for October
Updated: Jun 06, 2014 01:23:11pm
New Delhi, Jun 6 (KNN) To promote economic engagement between India and Latin America and Caribbean (LAC) region, the Department of Industrial Policy and Promotion (DIPP) has announced the launch of the 'India-LAC Investment Conclave' on the theme 'Lets Grow Together' along with the industry body FICCI.
As part of the initiative, a two-day conclave will be held in the national capital on October 16-17, 2014, organized jointly by Federation of Indian Chambers of Commerce and Industry (FICCI) and the DIPP.
“The conclave aims to enhance the business relations between India and LAC mainly by way of investments, as conventional trade in goods has its challenges on account of distance, time zone difference and business culture,” a FICCI release said.
While trade in commodities will continue due to their bulk nature and involvement of mega institutions, manufacturing and services can grow essentially by way of investments which will automatically lead to further trade growth too.
DIPP Secretary, Amitabh Kant had said earlier, "The objective of this conclave should be to lay down a roadmap and agenda for our engagement with Latin America. We need to consider appropriate initiatives aimed at meeting the development, energy and food security needs of our region, new infrastructural linkages with enhanced connectivity and trade and investment facilitation that builds on the complementarities in our economic strengths."
Kant said that rich in natural resources and as potential market for India’s products and services, LAC countries can prove to be valuable long-term allies. “There is general agreement on both sides that there are extensive synergies in our economics. In this endeavour, governments can only play a coordinating role and help create a conducive political and economic environment. It is for the businesspersons and entrepreneurs of the two countries to explore ways to fully exploit the real potential. The proposed conclave would provide a right platform foe increased interaction between Indian and Latin American Business,” he said.
Secretary General, FICCI, Didar Singh highlighted that the conclave will be focused on presenting specific investment opportunities in India for Latin American investors. He said that few partner country sessions are also planned to enable LAC countries present investment opportunities on offer in their countries.
He proposed enhanced cooperation in the areas of energy, agriculture, manufacturing, IT and infrastructure, in particular wherein India and LAC countries can benefit out of each other's globally known competencies and best practices. (KNN Bureau)
As part of the initiative, a two-day conclave will be held in the national capital on October 16-17, 2014, organized jointly by Federation of Indian Chambers of Commerce and Industry (FICCI) and the DIPP.
“The conclave aims to enhance the business relations between India and LAC mainly by way of investments, as conventional trade in goods has its challenges on account of distance, time zone difference and business culture,” a FICCI release said.
While trade in commodities will continue due to their bulk nature and involvement of mega institutions, manufacturing and services can grow essentially by way of investments which will automatically lead to further trade growth too.
DIPP Secretary, Amitabh Kant had said earlier, "The objective of this conclave should be to lay down a roadmap and agenda for our engagement with Latin America. We need to consider appropriate initiatives aimed at meeting the development, energy and food security needs of our region, new infrastructural linkages with enhanced connectivity and trade and investment facilitation that builds on the complementarities in our economic strengths."
Kant said that rich in natural resources and as potential market for India’s products and services, LAC countries can prove to be valuable long-term allies. “There is general agreement on both sides that there are extensive synergies in our economics. In this endeavour, governments can only play a coordinating role and help create a conducive political and economic environment. It is for the businesspersons and entrepreneurs of the two countries to explore ways to fully exploit the real potential. The proposed conclave would provide a right platform foe increased interaction between Indian and Latin American Business,” he said.
Secretary General, FICCI, Didar Singh highlighted that the conclave will be focused on presenting specific investment opportunities in India for Latin American investors. He said that few partner country sessions are also planned to enable LAC countries present investment opportunities on offer in their countries.
He proposed enhanced cooperation in the areas of energy, agriculture, manufacturing, IT and infrastructure, in particular wherein India and LAC countries can benefit out of each other's globally known competencies and best practices. (KNN Bureau)
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