12 nations to participate in India-LAC conclave
Updated: Oct 08, 2015 11:59:11am
New Delhi, Oct 8 (KNN) As many as 12 countries are participating in the two day India-Latin America and Caribbean Conclave started here today.
The sixth edition of the conclave organised by CII in partnership with the Department of Commerce, Ministry of Commerce and Industry and Ministry of External Affairs, would be addressed by Ana Helena Chacon Echeverria, Vice President of Costa Rica, and ministers and officials from the LAC region.
This is the first gathering of industry from India and LAC region after the new government took over.
The government has launched a number of major economic initiatives such as Make in India, Digital India, Skill India, Startup India among others aimed at improving the Ease of Doing Business in India. Indian industry can leverage new synergies and opportunities emerging out of these initiatives with LAC countries to take bilateral trade and investment to a new growth trajectory, said CII.
“India - LAC trade has multiplied by ten times in the last ten years and we believe that trade can go up from close to USD 50 billion to USD350 billion in the next ten years. This edition of the India-LAC Conclave builds upon the many areas of trade and investment opportunity identified in the previous such Conclaves,” added Director General, CII, Chandrajit Banerjee.
The federation has recommended that both sides explore trade diversification to more value added goods such as engineering, automotives, pharmaceuticals, metals and other products and enhanced trade in services, including transport and tourism.
The two sides can also leverage trade and economic cooperation agreements that they have entered into with third countries and regions. Both sides should further build up mutual investment pipelines to benefit from each other’s development strategies, suggested CII. (KNN Bureau)
The sixth edition of the conclave organised by CII in partnership with the Department of Commerce, Ministry of Commerce and Industry and Ministry of External Affairs, would be addressed by Ana Helena Chacon Echeverria, Vice President of Costa Rica, and ministers and officials from the LAC region.
This is the first gathering of industry from India and LAC region after the new government took over.
The government has launched a number of major economic initiatives such as Make in India, Digital India, Skill India, Startup India among others aimed at improving the Ease of Doing Business in India. Indian industry can leverage new synergies and opportunities emerging out of these initiatives with LAC countries to take bilateral trade and investment to a new growth trajectory, said CII.
“India - LAC trade has multiplied by ten times in the last ten years and we believe that trade can go up from close to USD 50 billion to USD350 billion in the next ten years. This edition of the India-LAC Conclave builds upon the many areas of trade and investment opportunity identified in the previous such Conclaves,” added Director General, CII, Chandrajit Banerjee.
The federation has recommended that both sides explore trade diversification to more value added goods such as engineering, automotives, pharmaceuticals, metals and other products and enhanced trade in services, including transport and tourism.
The two sides can also leverage trade and economic cooperation agreements that they have entered into with third countries and regions. Both sides should further build up mutual investment pipelines to benefit from each other’s development strategies, suggested CII. (KNN Bureau)
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