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KAMAL NATH CALLS ON OVERSEAS INDIANS TO REACH OUT TO GLOBAL SME’s FOR CATALYSING THEIR ECONOMIC ENGAGEMENT WITH INDIA
ADDRESSES PRAVASI BHARATIYA DIVAS PLENARY SESSION
Date : 08 Jan 2008
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, has invited the overseas Indians to reach out to global SME’s (small and medium enterprises) for catalysing their economic engagement with India, while speaking at the Pravasi Bharatiya Divas Plenary Session on “Trade and Business Opportunities”, here today. He said: “I invite you to form meaningful partnerships with Indian firms looking to set up beach heads overseas by providing technology, logistical marketing and financial support. I also invite you to invest in Indian markets as financial investors. Overseas Indian investors would also find it lucrative to invest in India’s skill based industries. The achievements of the IT and automobile industries have been well showcased. I invite you to put your money into the other emerging centres of excellence”. Shri Vayalar Ravi, Minister for Overseas Indian Affairs; Shri T.K. A. Nair, Principal Secretary to the Prime Minister and Shri Sunil Bharti Mittal, CMD of Bharti Group were present on the occasion.
Shri Kamal Nath stated that to secure the growth story, there are four levels of collaboration currently taking place viz., Private-public partnerships for infrastructure projects; Private companies partnering with universities to work around the skilled labour constraint; Private companies partnering with each other to build efficient supply chains; and, Private companies partnering with foreign investors. As regards healthcare industry, the Minister said that India has the capabilities to develop world-class healthcare innovations for global use, from product development such as drug discovery, clinical trials and manufacturing, to services like diagnostics and drug delivery. He further emphasised that India has huge investment potential in the sectors like entertainment industry, tourism industry, chemicals industry and education.
The Minister said that as a trading nation, India is now firmly established at the top of the table of the World Trade Organisation (WTO), irrespective of the outcome of the Doha Development Round, and bilateral trade agreements are currently in the pipeline with at least ten potential partners ranging from ASEAN via the EU to the US and Canada.
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