UPDATE
Canada
NRI Minister to promote trade between botn Countries
New Delhi, Jan 09, 2007
Surinder Mehta
Trade and investment opportunities in India, Day
2, Mr TKA Nair, Principal Secretary to the PM, chaired the session.
NRI, Harvinder Takhar, Minister of Small Business and
Entrepreneurship, Canada, said:
- PIOs and NRIs can promote trade between their home country
and India, as they understand both countries. He highlighted
the initiatives taken in his home constituency Ontario to promote
trade in terms of reduction of paper work and opening of a marketing
office in Delhi.
Mr Sunil Bharti Mittal, President, CII and Chairman and
Group CEO, Bharti Enterprises, said:
- India has good land resources and food processing industry
is going to come up rapidly. The NRIs can add "more momentum"
to the knowledge industry in IT, Innovation and Biotechnology
sectors in India. On skill sets development, he urged PIOs to
invest in institutions for building skill capacities
Mr Kamal Nath, Minister of Commerce and Industry, India
said:
- The shift in the Global Economic Architecture, India has experienced
a huge transformation since the early nineties when economic
reforms were launched. Today India's engagement with the global
economy is around US$ 450 billion and foreign exchange reserves
are at a record level of US$ 270 billion. India followed an
"India specific" model and is now globally competitive.
He said that Indian companies are now heavily investing abroad,
and the consumer market is growing at a fast pace. NRIs to lend
their intellectual and entrepreneurship resources to build the
Indian SME sector and engage it with the SMEs worldwide.
Mr Anil Kapur, Managing Director, Western Union Services
India Pvt. Ltd., said:
- The need for more money transfer systems and banks, as around
half of remittances are done through informal channels. He recommended
leveraging the strength of the Department of Posts and use of
technology. Lord Karan Billimoria, CBE, DL, Co-Chair, Indo-British
Partnership and Founder and Chairman, Cobra Beer Ltd., UK said
that 25 million NRIs around the world are eager to be the part
of the growth process of India.
Shri Pranab Mukherjee, Minister of External Affairs said:
- The debate of developmental challenges could not happen at
a better time in India. This should engage the government, the
civil society and also the NRIS . He stressed that the imbalance
in the rate of growth of the states of the nation needs to be
addressed. Shri Mukherjee also asked the states and the NRI
forum to come together in education, healthcare, energy sustainability,
research and development as these sectors will "mar or
make our future development.
Chief Minister of some States
addressed the NRIs audience about the facilities and investment
areas and opportunities in their states:
Ms Sheila Dikshit, Chief Minister, Government of NCT
of Delhi said the Capital city state as the hub of health
and education with state of the art infrastructural facilities.
She urged PIOs to invest in infrastructure development.
Shri Narendra Modi, Chief Minister, Gujarat said:
- The NRIs as "true ambassadors of the nation" portrayed
Gujarat as the state with the growth rate of 10.6% - the highest
in Asia. He said that Gujarat is focusing on port-led industrial
and infrastructural development along with development in agriculture
and services. Welcoming the Prime Minister's recommendation
for a PIO University in India, he said his state is ready to
start the mission.
Shri V S Achuthanandan, Chief Minister, Kerala said:
about investment opportunities in his state in tourism and IT
& IteS.
Shri Bhupinder Singh Hooda, Chief Minister, Haryana,
identified investment thrust areas in infrastructure, agro and
food processing, IT, automobiles etc.
Shri Madhu Koda, Chief Minister, Jharkhand,
said that the government has signed MoUs with leading steel and
power companies and is committed to infrastructure development
in PPP mode. He asked NRIs to invest in industries, technical
education and health. Shri Gautam Singh, Minister of Industries,
Bihar presented the investment opportunities in the mineral rich
region, and outlined the new industrial policies to attract investment
in the state.
