Resource-abundant LAC region & labour-surplus India are natural economic & business partners: Sanjay Baru
Updated: Oct 17, 2014 03:51:21pm
New Delhi, Oct 17 (KNN) India, a natural resource-deficient nation but having large reserves of labour could profit from the resources-abundant LAC region while meeting the demand for labour in LAC (Latin America and Caribbean) countries, said Director for Geo-economics and Strategy, IISS, Sanjaya Baru.
Speaking on ‘India-LAC Economic Diplomacy: The Path Forward’ at the valedictory session of the India-LAC Investment Conclave organized by industry body FICCI, Baru said that looking at the importance being accorded to South-South Trade and Cooperation, India needs to keep its foot in the LAC region to leverage trade and investment opportunities.
He said that B2B and P2P are the two most important forms of meeting, and hold the key to trade and investment. Earlier, governments played a critical role but in the 21st century, the governments have turned into facilitators for business and industry.
He further added that in his recent visit to the US, Prime Minister Narendra Modi, announced that India will liberalize visa policies to help businessmen to travel across countries to explore business opportunities.
Special Secretary (Americas), Ministry of External Affairs, R Swaminathan said that it was a matter of great satisfaction that 400 delegates participated in the first-ever India-LAC Investment Conclave. The conclave intensified business relationship between India and LAC region.
He said that LAC was the second largest supplier of crude oil to India and closer ties with LAC will help India in meeting its oil demands. There was a need to enhance and explore business opportunities in other areas such as agriculture, energy especially, renewables, IT and ITes.
Swaminathan added that eco-tourism and health tourism were the two forms of tourism that can gain momentum with the right kind of cooperation between the two regions.
In her welcome remarks, Senior Vice President, FICCI and Chairperson, Bharat Hotels, Jyotsna Suri said that the conclave witnessed intensive and extensive discussions, which has laid out the foundation for a stronger cooperation between India and LAC region.
She added that tourism is one of the sectors that could be a game changer for economies of both India and LAC.
However, she said that connectivity has emerged as the biggest hindrance for investors. Better connectivity would go a long way in enhancing business between India and LAC. She added that both regions should also look at exploring markets from each other’s territories.
The Valedictory Session was also addressed by Ambassador Rodrigo Vielmann, Vice-Minister of Foreign Affairs (Trade), Guatemala on behalf of Sergio de la Torre, Minister for Economy, Guatemala; Alden Rivera Montes, Minister for Economic Development, Honduras; Alvaro Baltodano, Minister for Investment Promotion & Foreign Trade, Nicaragua and Antonio Luis Carricarte Corona, First Deputy Minister, Ministry of Foreign Trade & Investment, Cuba.
The Ministers and Ambassador of the LAC presented the profile of opportunities that are waiting to be explored in their respective countries and urged the Indian businessmen to invest and become a part of economic development for the less developed nations of Latin America. (KNN Bureau)
Speaking on ‘India-LAC Economic Diplomacy: The Path Forward’ at the valedictory session of the India-LAC Investment Conclave organized by industry body FICCI, Baru said that looking at the importance being accorded to South-South Trade and Cooperation, India needs to keep its foot in the LAC region to leverage trade and investment opportunities.
He said that B2B and P2P are the two most important forms of meeting, and hold the key to trade and investment. Earlier, governments played a critical role but in the 21st century, the governments have turned into facilitators for business and industry.
He further added that in his recent visit to the US, Prime Minister Narendra Modi, announced that India will liberalize visa policies to help businessmen to travel across countries to explore business opportunities.
Special Secretary (Americas), Ministry of External Affairs, R Swaminathan said that it was a matter of great satisfaction that 400 delegates participated in the first-ever India-LAC Investment Conclave. The conclave intensified business relationship between India and LAC region.
He said that LAC was the second largest supplier of crude oil to India and closer ties with LAC will help India in meeting its oil demands. There was a need to enhance and explore business opportunities in other areas such as agriculture, energy especially, renewables, IT and ITes.
Swaminathan added that eco-tourism and health tourism were the two forms of tourism that can gain momentum with the right kind of cooperation between the two regions.
In her welcome remarks, Senior Vice President, FICCI and Chairperson, Bharat Hotels, Jyotsna Suri said that the conclave witnessed intensive and extensive discussions, which has laid out the foundation for a stronger cooperation between India and LAC region.
She added that tourism is one of the sectors that could be a game changer for economies of both India and LAC.
However, she said that connectivity has emerged as the biggest hindrance for investors. Better connectivity would go a long way in enhancing business between India and LAC. She added that both regions should also look at exploring markets from each other’s territories.
The Valedictory Session was also addressed by Ambassador Rodrigo Vielmann, Vice-Minister of Foreign Affairs (Trade), Guatemala on behalf of Sergio de la Torre, Minister for Economy, Guatemala; Alden Rivera Montes, Minister for Economic Development, Honduras; Alvaro Baltodano, Minister for Investment Promotion & Foreign Trade, Nicaragua and Antonio Luis Carricarte Corona, First Deputy Minister, Ministry of Foreign Trade & Investment, Cuba.
The Ministers and Ambassador of the LAC presented the profile of opportunities that are waiting to be explored in their respective countries and urged the Indian businessmen to invest and become a part of economic development for the less developed nations of Latin America. (KNN Bureau)
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