FICCI : Industry's Voice for Policy Change

Federation of Indian Chambers of Commerce & Industry (FICCI), organized ‘GLOBIZ-Connecting Business Globally’ from 21st Feb to 3rd March, with a vision to support Indian exporters and manufacturers from textiles, home furnishing, healthcare, pharmaceutical and other key sectors to globally reach out to new markets.

The virtual series of multi sector events focused on countries like Africa, Eurasia, ASEAN, Arabia and Pacific alliance regions. The objective was to provide a user friendly, technologically driven platform to Indian exporters and manufactures, ensuring quality interactions with buyers and offering real-time experience of the exhibition. This largest multi-sector event was supported by Ministry of Commerce & Industry and Ministry of External Affairs, Govt of India.

The 9-day virtual exhibition saw participation from over 250+ Indian companies from different prominent sectors and over 1500+ buyers from Eurasia, Pacific alliance Philippines, Vietnam, Arabia, Africa and many other countries with total 6000+ registered visitors.

Key highlights of the sessions:

India- ASEAN Healthcare Expo: The 3-days exhibition 22-24 Feb’ kickstarted with the inaugural session ‘India – ASEAN Healthcare Expo’ followed by panel discussion on ‘The New Era of Partnership in Healthcare: Telemedicine, Health Techs, Medical Devices, Pharmaceuticals and affordable healthcare services” on 22nd February 2021.

Mr Anant Swarup, Joint Secretary, FT (ASEAN), Department of Commerce, Ministry of Commerce & Industry, Government of India inaugurated the exhibition and shared that ASEAN is the central pillar of India’s Act East Policy and lot of collaboration opportunities exist between India and ASEAN. He also emphasised that India is looking to collaborate with ASEAN under Project Development Fund and is currently working on development of Multi-speciality hospitals in Cambodia and Myanmar.

Namaskar Arabia: Addressing the inaugural edition of Namaskar Arabia on 23rd Feb, the MEA Secretary said that both India and the Arab region are engaged in improvements and transformational changes in the economy, and the goodwill between the people provides great potential to take the economic engagement to a higher level.

Amb Bhattacharya said, “We are currently engaged in an era of transformation on both sides that helps us engage more deeply with each other. From a buyer-seller relationship we have developed a long-term strategic relationship, not only in oil and gas, but also in upstream and downstream investments.”

2nd Edition of Namaskar Eurasia Expo (Focus Uzbekistan)

Mr Manish Prabhat, Ambassador of India to Uzbekistan during the inaugural ceremony of ‘Namaskar Eurasia Expo’ on 24th Feb said that air corridors would play a critical role in deepening economic relations between India and Central Asian economies. FICCI has been instrumental in promoting a dialogue between key stakeholders and stands to play a pivotal role in actuating the corridors in the times to come.”

Namaskar Pacific Alliance

Mr Suresh Kumar, Joint Secretary- LAC, Ministry of Commerce, Govt of India during the inaugural ceremony on 1st March said, “India’s trade with the Pacific Alliance group has the potential to touch USD 30 billion in short span of time. He highlighted that the bilateral discussions and trade negotiations with Mexico and Colombia could lead to similar trade agreements that India has with Chile.”

Namaskar Africa

Mr Rahul Chhabra, Secretary-Economic Relations, Ministry of External Affairs, Govt of India during the inaugural ceremony of Namaskar Africa on 1st March said that the CFTA signals a great opportunity for Indian businesses for partnering with African counterparts to deepen their integration and accelerate their development.

“We do not have a donor-recipient relationship with Africa but consider our partner countries as development partners,” he said. “Out of 54 African countries we have Indian projects operating in 48 African countries with 75 projects worth USD 13 billion. This is the size of our commitment to the African Continent,” said the Secretary.

“We want to be forward-looking and forward-thinking to see how the partner countries can benefit from our collaborations,” said the MEA Secretary.

Dr Srikar Reddy, Joint Secretary, FT-AFRICA, Department of Commerce, Govt of India said, Africa looks at India as an opportunity for trade and investment, collaborations in new emerging technologies, especially in ICT, Consultancy, fin-tech, logistics, EdTech, health tech, and others. He also mentioned that the recovery of the global economy will largely depend on the effectiveness of vaccination efforts. Dr Reddy stated that India and Africa are connected by a historical association that has blossomed into a multifaced partnership with an emphasis on economic cooperation and human resource development. He further added that Prime Minister Narendra Modi has made Africa a priority for India’s foreign and economic policy.

HE Dr Daniel Peter Othol, The Dean of the African Group of Heads of Missions in India & Ambassador of South Sudan said the relationship between India and Africa must be augmented to the level that will benefit Africa.

“We want India to mechanize the African agriculture, to build our social and physical infrastructure and the health and educational needs especially during the era of COVID-19. He further stated that there is an urgent need to boost the immunity of the population of Africa, therefore Africa is looking at India for vaccines,” he said.

Ten News | Feb 19, 2021

India & Singapore Should Invoke 3Bs- Buddhism, Bollywood, Business, To Make It The Defining Partnership Of This Century: Piyush Goyal

Addressing the 2nd Meeting of India-Singapore CEOs Forum’, organized by FICCI, jointly with DPIIT, Govt of India, Mr Piyush Goyal, Minister of Railways and Commerce and Industry, Govt of India highlighted three Bs- Buddhism, Bollywood and Business, for enhancing India-Singapore relations.

Mr Goyal also emphasized on creating a forum for women entrepreneurs, for both India and Singapore for sharing of experiences and success stories. He also stressed on education and skill development being key pillars for strengthening India- Singapore ties.

Mr S Iswaran, Minister for Communications and Information & Minister-in-charge of Trade Relations, Govt of Singapore urged for a greater engagement between the businesses on both sides. He emphasized on 3Ds- Development, Diversification and Digital Economy for building a partnership that will benefit the two economies.

Mr Uday Shankar, President, FICCI said that India-Singapore enjoys multifaceted strategic relations and both nations are supporting each other in the endeavour to reinvigorate multilateralism.

Mr Harshavardhan Neotia, Co-Chair, India-Singapore CEO Forum, Past President, FICCI and Chairman, Ambuja Neotia Group said that the Forum will focus on two working groups, viz., Innovative technologies and Advanced Manufacturing. It would cover the aspects of women empowerment in business, education and skills, in these areas. He also emphasised facilitating collaboration in Artificial Intelligence, IoT, blockchain and Big Data, Advanced manufacturing, Infrastructure Financing, e-Commerce, and Healthcare.

Mr Gautam Banerjee, Co-Chair, India-Singapore CEO Forum, Senior Managing Director and Chairman, Blackstone Singapore said, “In January 1994, the then Singapore Prime Minister, Mr Goh Chok Tong started a ‘mild India fever’ with his visit to India with a group of Singapore businessmen. Since that historical visit not only has bilateral trade and investment between the two countries grown significantly but the level of knowledge, confidence, and desire of businesses from both countries to invest and operate in each other’s territories has grown at a healthy pace. The India-Singapore CEOs Forum will help identify new areas of cooperation, investment and partnership between businesses of both countries.”

The members of India- Singapore CEOs Forum also agreed to work towards resolving regulatory issues and processes affecting bilateral trade and investment between the two countries.

Co-Chairs Mr Neotia and Mr Banerjee presented a Joint Intention document with proposals for collaboration to Mr Piyush Goyal, Minister of Railways and Commerce and Industry, Government of India and Mr S Iswaran, Minister for Communications and Information & Minister-in-charge of Trade Relations, Government of Singapore

NDTV | Feb 19, 2021

Singapore-India ties can expand through people to people engagement: Piyush Goyal

Union Minister Piyush Goyal on Thursday delivered the keynote address at India-Singapore CEO Forum and inviting businesses from both sides to bring in sparkle into India and Singapore's partnership, he said that "ours is a strong and productive partnership, which can be taken to higher levels."

The minister said that it is a partnership that will help us become Aatmanirbhar and also give opportunities for us to expand our global footprint.

Union Minister of Railways; Commerce and Industry; Consumer Affairs and Food and Public Distribution Mr Goyal urged businesses to look at ways how we can expand the engagement and encourage India's youth to use more innovative technologies.

He said India and Singapore are working together in cyber security and disaster relief, and education and skill development can be taken up as pillars where we can work together and learn from Singapore's experience.

"E-Commerce, Fintech, smart manufacturing, healthcare are significant areas where India offers a large market. Our working together in these areas can truly transform India's own effort to give the best to our people," he said.

Mr Goyal quoted Prime Minister Narendra Modi as saying, "Singapore is our spring board to the ASEAN region".

Mr Goyal expressed the belief that the new regional order that will emerge, will rest on the strong shoulders of Singapore and India.

He said that through budget 2021-22 and various other measures, Prime Minister has been trying to prepare the country to engage with the world from a position of strength, in the next decade.

Similarly, the Singapore budget also this year has focused a lot on transformation and innovation.

He expressed happiness that Singapore and the GIFT city which is our first operational smart city, have tied up with the Singapore exchange to boost international investment in India.

The minister said that he looks at expanding the Singapore-India ties resting on a greater degree of people-to-people engagement and that can rest on three B's: - Buddhism, Bollywood and Business.

Mr Goyal added, "Our women entrepreneurs have done us proud, and the huge potential in this area can be expanded to improve India and Singapore's relationship."

ANI News | Feb 18, 2021

Singapore-India ties can expand on basis of greater degree of people to people engagement: Piyush Goyal

United News of India | Feb 18, 2021

Goyal calls for expanded B2B ties with Singapore

SME Times | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who's the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, "Buddhism, Bollywood and Business" can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India's youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore's experience.

Goyal expressed the belief that the new regional order will rest on the 'strong shoulders' of Singapore and India.

In addition, he said that through Budget 2021-22 and various other measures, Prime Minister Narendra Modi has been trying to prepare the country to engage with the world from a position of strength in the next decade.

Devdiscourse | Feb 18, 2021

Buddhism, bollywood, business can expand people-to-people engagement between India, Singapore: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said three 'Bs' - Buddhism, Bollywood and Business - can help expand people to people engagement and strengthen economic ties between India and Singapore.

He said education and skill development can be taken up as pillars where both the sides can work together and learn from Singapore's experience.

''I look at expanding the Singapore-India ties resting on a greater degree of people-to-people engagement and I think that can rest on 3 'Bs'. The 3 'Bs' that I think can expand our people to people engagement are - Budhism, Bollywood and Business,'' he said while addressing India-Singapore CEO Forum.

He added that in the post-COVID period, ''I would like to invite all of you and experience Buddhism, enjoy bollywood and engage in business in India''.

The minister also suggested two areas for enhancing cooperation and that includes ways to promote women entrepreneurship.

''Can we look at that engagement being taken forward to help us understand what Singapore does to promote women entrepreneurs and whether we can pull out a leaf or two from your own experiences,'' he suggested.

Devdiscourse | Feb 18, 2021

Piyush Goyal delivers keynote address at India-Singapore CEO Forum

Minister of Railways; Commerce & Industry; Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today delivered the keynote address at India-Singapore CEO Forum. Inviting businesses from both sides to bring in sparkle into India and Singapore's partnership, he said that ours is a strong & productive partnership, which can be taken to higher levels. The minister said that it is a partnership that will help us become Aatmanirbhar & also give opportunities for us to expand our global footprint.

Shri Goyal urged businesses to look at ways how we can expand the engagement and encourage India's youth to use more innovative technologies. He said India & Singapore are working together in cybersecurity & disaster relief, and Education and skill development can be taken up as pillars where we can work together and learn from Singapore's experience. E-Commerce, Fintech, smart manufacturing, healthcare are significant areas where India offers a large market. He said that our working together in these areas can truly transform India's own effort to give the best to our people.

Shri Goyal quoted Prime Minister Shri Narendra Modi as saying that "Singapore is our springboard to the ASEAN region". Shri Goyal expressed the belief that the new regional order that will emerge, will rest on the strong shoulders of Singapore & India. He said that through budget 2021-22 and various other measures, Prime Minister has been trying to prepare the country to engage with the world from a position of strength, in the next decade. Similarly, the Singapore budget also this year has focused a lot on transformation and innovation. He expressed happiness that Singapore and the GIFT city which is our first operational smart city, have tied up with the Singapore exchange to boost international investment in India.

The minister said that he looks at expanding the Singapore-India ties resting on a greater degree of people to people engagement and that can rest on three B's: - Buddhism, Bollywood and Business. He said Our women entrepreneurs have done us proud, and the huge potential in this area can be expanded to improve India & Singapore's relationship.

Bhaskar Live | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Lokmat English | Feb 18, 2021

Singapore-India ties can expand through people to people engagement: Piyush Goyal

Sarkaritel.com | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Can India | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Prokerala | Feb 18, 2021

Singapore-India ties can expand via greater people to people engagement

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who's the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, "Buddhism, Bollywood and Business" can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India's youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore's experience.

Goyal expressed the belief that the new regional order will rest on the 'strong shoulders' of Singapore and India.

India Education Diary | Feb 18, 2021

Union Minister Piyush Goyal delivers keynote address at India-Singapore CEO Forum

Minister of Railways; Commerce & Industry; Consumer Affairs and Food & Public Distribution Shri Piyush Goyal today delivered the keynote address at India-Singapore CEO Forum. Inviting businesses from both sides to bring in sparkle into India and Singapore’s partnership, he said that ours is a strong & productive partnership, which can be taken to higher levels. The minister said that it is a partnership that will help us become Aatmanirbhar& also give opportunities for us to expand our global footprint.

Shri Goyal urged businesses to look at ways how we can expand the engagement and encourage India’s youth to use more innovative technologies. He said India & Singapore are working together in cyber security & disaster relief, and Education and skill development can be taken up as pillars where we can work together and learn from Singapore’s experience. E-Commerce, Fintech, smart manufacturing, healthcare are significant areas where India offers a large market. He said that our working together in these areas can truly transform India’s own effort to give the best to our people.

Shri Goyal quoted Prime Minister Shri Narendra Modi as saying that “Singapore is our spring board to the ASEAN region”. Shri Goyal expressed the belief that the new regional order that will emerge, will rest on the strong shoulders of Singapore & India. He said that through budget 2021-22 and various other measures, Prime Minister has been trying to prepare the country to engage with the world from a position of strength, in the next decade. Similarly, the Singapore budget also this year has focused a lot on transformation and innovation. He expressed happiness that Singapore and the GIFT city which is our first operational smart city, have tied up with the Singapore exchange to boost international investment in India.

The minister said that he looks at expanding the Singapore-India ties resting on greater degree of people to people engagement and that can rest on three B’s: – Buddhism, Bollywood and Business. He said Our women entrepreneurs have done us proud, and the huge potential in this area can be expanded to improve India & Singapore’s relationship.

Latest LY | Feb 18, 2021

India-Singapore CEO Forum: 'Singapore-India ties can expand via greater people to people engagement'says Union Minister Piyush Goyal

India Updates | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

sify.com | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who's the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, "Buddhism, Bollywood and Business" can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India's youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore's experience.

Goyal expressed the belief that the new regional order will rest on the 'strong shoulders' of Singapore and India.

IND News | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Telugu Stop | Feb 18, 2021

'Singapore-India Ties Can Expand Via Greater People To People Engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

newsd | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Ommcom News | Feb 18, 2021

'Singapore-India ties can expand via greater people to people engagement'

Singapore-India ties can expand on the basis of greater degree of people to people engagement, Union Minister Piyush Goyal said on Thursday.

Goyal, who’s the Minister of Railways, Commerce & Industry, Consumer Affairs and Food & Public Distribution, was delivering the keynote address at the India-Singapore CEO Forum.

According to Goyal, “Buddhism, Bollywood and Business” can help cement the partnership between the two nations.

He urged businesses to look at ways to expand the engagement and encourage India’s youth to use more innovative technologies.

Besides, the minister said that e-commerce, fintech, smart manufacturing, healthcare are the significant areas where India offers a large market.

He cited that India and Singapore are working together in cyber security and disaster relief, while education and skill development can also be taken up using Singapore’s experience.

Goyal expressed the belief that the new regional order will rest on the ‘strong shoulders’ of Singapore and India.

Indiaties | Feb 18, 2021

Piyush Goyal woos Singapore CEOs to invest in India

Union Minister Piyush Goyal today delivered the keynote address at India-Singapore CEO Forum. Inviting businesses from both sides to bring in sparkle into India and Singapore’s partnership, he said that ours is a strong & productive partnership, which can be taken to higher levels. The minister said that it is a partnership that will help us become Aatmanirbhar & also give opportunities for us to expand our global footprint.

The Economic Times | Feb 18, 2021

Goyal invites Singapore to invest in semiconductor manufacturing in India

Commerce and industry minister Piyush Goyal on Thursday invited Singapore’s companies to invest in semiconductor manufacturing in India as the issue is of serious interest to the country. At the FICCI India-Singapore CEO Forum, Goyal said it is a matter of concern that India has to rely on other countries for semiconductors.

“We are extremely keen to have more facilities for chips and wafers and semiconductors because India’s total reliance on other countries for semi conductors is not advisable. It is a matter of concern for the country,” Goyal said.

Goyal also said that e-commerce, fintech, smart manufacturing and healthcare are significant areas where India offers a large market.

On a lighter note, the minister said that Singapore is “losing a very big opportunity by not bidding in the Air India process”.

“I read in the paper. I don’t know what is the reality but I promise you one day I’ll receive a call from you regretting this decision if you’re not bidding for Air India. It’s actually a jewel. If I was not a minister, I would have bid for (it) positively. I respect your decisions,” he said.

Singapore Airlines has reportedly declined to join the Tata Group’s bid for Air India. They have a joint-venture agreement in full-service airline Vistara.

The government is expected to fetch Rs 15,000 crore from the sale of Air India, its subsidiary Air India Express and AISATS - a 50:50 joint venture partnership between Air India and Singapore Airport Terminal Services Limited.

The Hindu Business Line | Feb 18, 2021

India, Singapore can work together in fintech, e-commerce, smart manufacturing: Goyal

Members of India-Singapore CEOs Forum agree to work towards resolving regulatory issues and processes affecting bilateral trade and investment

India and Singapore can work together in areas such as e-commerce, fintech, smart manufacturing and healthcare where the country offers a large market, Commerce & Industry Minister Piyush Goyal has said.

“Our working together in these areas can truly transform India’s own effort to give the best to our people,” Goyal said at the India-Singapore CEO Forum organised by the Department for Promotion of Industry and Internal Trade (DPIIT) and FICCI on Thursday. The India-Singapore CEO Forum was launched in November 2018.

The members of India- Singapore CEOs Forum also agreed to work towards resolving regulatory issues and processes affecting bilateral trade and investment between the two countries, according to a release issued by FICCI.

The Minister said he was looking at expanding Singapore-India ties resting on three Bs - Buddhism, Bollywood and Business.

Bilateral benefit

Singapore’s Minister-in-charge of Trade Relations S Iswaran emphasised on greater engagement between businesses on both sides. He pushed for 3 Ds — Development, Diversification and Digital Economy — for building a partnership that will benefit the two economies.

Singapore and India are already working together in cyber security and disaster relief and education and skill development can be taken up as pillars where India can learn from Singapore’s experience, Goyal said. This is a partnership that will help India to become Aatmanirbhar and also give opportunities to the country for increasing its global footprint, a release from the Commerce & Industry Ministry said.

India recognised the significance of Singapore as an important member of the ASEAN grouping and considered it as its spring board to the region, the Minister said. The country is India’s largest trade partner among ASEAN countries.

Goyal said Singapore Exchange’s tie-up with the GIFT city, which was India’s first operational smart city, was a welcome development as it would boost international investments into the country.

Media Infoline | Feb 18, 2021

India & Singapore should invoke 3Bs- Buddhism, Bollywood, Business: Piyush Goyal

To further strengthen the India- Singapore economic and investment relations, the second meeting of India-Singapore CEOs forum was organized today.

Mr Uday Shankar, President, FICCI said that India-Singapore enjoys multifaceted strategic relations and both nations are supporting each other in the endeavour to reinvigorate multilateralism.

The members of India- Singapore CEOs Forum also agreed to work towards resolving regulatory issues and processes affecting bilateral trade and investment between the two countries.

Business Journal | Feb 18, 2021

India, Singapore can work together in fintech, e-commerce, smart manufacturing: Goyal

The Minister said he was looking at expanding Singapore-India ties resting on three Bs — Buddhism, Bollywood and Business.

Bilateral benefit

Goyal said Singapore Exchange’s tie-up with the GIFT city, which was India’s first operational smart city, was a welcome development as it would boost international investments into the country.

India Narrative | Feb 18, 2021

Piyush Goyal seeks to expand ties with Singapore

Piyush Goyal, minister of railways and commerce and industry, said the three Bs- Buddhism, Bollywood and business would hold key to enhance India-Singapore relations.

Speaking at the India-Singapore CEOs forum organised by FICCI, he underlined the need to expand people to people engagement for deepening ties. The minister also pointed out that a forum needs to be set up for women entrepreneurs, for both India and Singapore for sharing of experiences and success stories . The minister stressed on education and skill development being key pillars for strengthening India- Singapore ties.

S. Iswaran, minister for communications and information & minister-in-charge of trade relations, government of Singapore highlighted that there was need for greater engagement between the businesses on both sides. He emphasized on 3Ds- development, diversification and digital Economy for building a partnership that will benefit the two economies.

Last month, in the fifth India-Singapore Defence Ministers Dialogue, Defence Minister Rajnath Singh and his Singaporean counterpart Dr Ng Eng Hen too reaffirmed their commitment to strengthening bilateral ties in the sector.

According to a report by ANI, both ministers expressed satisfaction at the progress of ongoing defence cooperation engagements between the two countries despite limitations imposed by ongoing Covid-19 pandemic. The meeting was held virtually.

The two ministers also held discussions on potential new areas of cooperation. The ministers also witnessed the signing of the Implementing Agreement on Submarine Rescue Support and Cooperation between the Indian Navy and Republic of Singapore Navy.

News Matters | Feb 18, 2021

India, Singapore can work together in fintech, e-commerce, smart manufacturing: Goyal

India and Singapore can work collectively in areas equivalent to e-commerce, fintech, good manufacturing and healthcare the place the nation affords a big market, Commerce & Trade Minister Piyush Goyal has mentioned.

“Our working collectively in these areas can really remodel India’s personal effort to provide one of the best to our folks,” Goyal mentioned on the India-Singapore CEO Discussion board organised by the Division for Promotion of Trade and Inside Commerce (DPIIT) and FICCI on Thursday. The India-Singapore CEO Discussion board was launched in November 2018.

The members of India- Singapore CEOs Discussion board additionally agreed to work in the direction of resolving regulatory points and processes affecting bilateral commerce and funding between the 2 nations, in line with a launch issued by FICCI.

The Minister mentioned he was increasing Singapore-India ties resting on three Bs — Buddhism, Bollywood and Enterprise.

Bilateral profit

Singapore’s Minister-in-charge of Commerce Relations S Iswaran emphasised on higher engagement between companies on each side. He pushed for 3 Ds — Growth, Diversification and Digital Economic system — for constructing a partnership that may profit the 2 economies.

Singapore and India are already working collectively in cyber safety and catastrophe reduction and training and talent growth will be taken up as pillars the place India can study from Singapore’s expertise, Goyal mentioned. This can be a partnership that may assist India to grow to be Aatmanirbhar and in addition give alternatives to the nation for growing its international footprint, a launch from the Commerce & Trade Ministry mentioned.

India recognised the importance of Singapore as an essential member of the ASEAN grouping and thought of it as its spring board to the area, the Minister mentioned. The nation is India’s largest commerce companion amongst ASEAN nations.

Goyal mentioned Singapore Change’s tie-up with the GIFT metropolis, which was India’s first operational good metropolis, was a welcome growth as it will increase worldwide investments into the nation.

Smart News | Feb 18, 2021

Goyal invites Singapore to invest in semiconductor manufacturing in India

Commerce and trade minister Piyush Goyal on Thursday invited Singapore’s firms to invest in semiconductor manufacturing in India as the problem is of great curiosity to the nation. At the Ficci India-Singapore CEO Forum, Goyal mentioned it’s a matter of concern that India has to depend on different nations for semiconductors.

Goyal additionally mentioned that e-commerce, fintech, sensible manufacturing and healthcare are important areas the place India gives a big market.

On a lighter notice, the minister mentioned that Singapore is “losing a very big opportunity by not bidding in the Air India process”.

Singapore Airlines has reportedly declined to be part of the Tata Group’s bid for Air India. They have a joint-venture settlement in full-service airline Vistara.

The authorities is anticipated to fetch Rs 15,000 crore from the sale of Air India, its subsidiary Air India Express and AISATS – a 50:50 three way partnership partnership between Air India and Singapore Airport Terminal Services Limited.

Financial Express | Feb 18, 2021

Buddhism, Bollywood, Business can expand people-to-people engagement between India, Singapore: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said three ‘Bs’ – Buddhism, Bollywood and Business – can help expand people to people engagement and strengthen economic ties between India and Singapore.

He said education and skill development can be taken up as pillars where both the sides can work together and learn from Singapore’s experience.

“I look at expanding the Singapore-India ties resting on a greater degree of people-to-people engagement and I think that can rest on 3 ‘Bs’. The 3 ‘Bs’ that I think can expand our people to people engagement are – Budhism, Bollywood and Business,” he said while addressing India-Singapore CEO Forum .

He added that in the post-COVID period, “I would like to invite all of you and experience Buddhism, enjoy bollywood and engage in business in India”.

The minister also suggested two areas for enhancing cooperation and that includes ways to promote women entrepreneurship.

“Can we look at that engagement being taken forward to help us understand what Singapore does to promote women entrepreneurs and whether we can pull out a leaf or two from your own experiences,” he suggested.

Business World | Feb 18, 2021

Buddhism, Bollywood, Business Can Expand People-To-People Engagement Between India, Singapore: Goyal

He said education and skill development can be taken up as pillars where both the sides can work together and learn from Singapore's experience.

'I look at expanding the Singapore-India ties resting on a greater degree of people-to-people engagement and I think that can rest on 3 'Bs'. The 3 'Bs' that I think can expand our people to people engagement are - Budhism, Bollywood and Business,' he said while addressing India-Singapore CEO Forum .

He added that in the post-COVID period, 'I would like to invite all of you and experience Buddhism, enjoy bollywood and engage in business in India'.

The minister also suggested two areas for enhancing cooperation and that includes ways to promote women entrepreneurship.

'Can we look at that engagement being taken forward to help us understand what Singapore does to promote women entrepreneurs and whether we can pull out a leaf or two from your own experiences,' he suggested.

Outlook | Feb 18, 2021

Buddhism, bollywood, business can expand people-to-people engagement between India, Singapore: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said three ''Bs'' - Buddhism, Bollywood and Business - can help expand people to people engagement and strengthen economic ties between India and Singapore.

He said education and skill development can be taken up as pillars where both the sides can work together and learn from Singapore''s experience.

"I look at expanding the Singapore-India ties resting on a greater degree of people-to-people engagement and I think that can rest on 3 ''Bs''. The 3 ''Bs'' that I think can expand our people to people engagement are - Budhism, Bollywood and Business," he said while addressing India-Singapore CEO Forum .

He added that in the post-COVID period, "I would like to invite all of you and experience Buddhism, enjoy bollywood and engage in business in India".

The minister also suggested two areas for enhancing cooperation and that includes ways to promote women entrepreneurship.

"Can we look at that engagement being taken forward to help us understand what Singapore does to promote women entrepreneurs and whether we can pull out a leaf or two from your own experiences," he suggested.

SME Times | Jan 27, 2021

'Ties with ASEAN critical element of Act East Policy'

Ministry of External Affairs Secretary Riva Ganguly Das, Secretary emphasised on the importance of India's relations with ASEAN and Oceania countries for enhancing collaboration in areas such as Digital connectivity, Information Technology, Fintech, Healthcare and Pharmaceuticals.

Addressing the session 'India's Engagement with World's Growth Centre - ASEAN and Oceania Region', organized by FICCI, Ms Das highlighted the centrality of these two regions in terms of India's vision for Indo-pacific and urged the industry to explore opportunities in emerging areas of cooperation like Blue economy, Disaster management and Sustainable development, Defence cooperation, building connectivity through India- Myanmar - Thailand Trilateral Highway.

Key principles of Act East Policy are promotion of economic cooperation, cultural ties, and development of strategic relationship with countries in Indo pacific region, added Ms Das.

Uday Shankar, President, FICCI highlighted that in order to build new and resilient supply chains with ASEAN and Oceania region, we must upgrade the skilling, improve logistics services, and strengthen the infrastructure connectivity with ASEAN and Oceania region.

He further added that sectors such as Start-ups and innovation, E-commerce, Infrastructure, Artificial Intelligence, Blockchain, etc. hold the maximum promise for collaboration between India and the countries in the ASEAN and Oceania region.

Shankar also laid emphasis on business and economic cooperation in areas of mutual interest such as start-ups, and innovation, empowerment of youth and women and the development of MSMEs for elevating the plateau of our relationship with ASEAN and Oceania countries.

Ten News | Jan 23, 2021

Engagement with ASEAN and Oceania Region will remain critical element of India’s Act East Policy: Secretary (East), MEA

Riva Ganguly Das, Secretary (East), Ministry of External Affairs today emphasised on the importance of India’s relations with ASEAN and Oceania countries for enhancing collaboration in areas such as Digital connectivity, Information Technology, Fintech, Healthcare and Pharmaceuticals.

Addressing the session ‘India’s Engagement with World’s Growth Centre – ASEAN and Oceania Region’, organized by FICCI, Das highlighted the centrality of these two regions in terms of India’s vision for Indo-pacific and urged the industry to explore opportunities in emerging areas of cooperation like Blue economy, Disaster management and Sustainable development, Defence cooperation, building connectivity through India- Myanmar – Thailand Trilateral Highway.

Key principles of Act East Policy are promotion of economic cooperation, cultural ties, and development of strategic relationship with countries in Indo pacific region, added Das.

Dilip Chenoy, Secretary General, FICCI delivered the vote of thanks.

India’s economic relations with ASEAN and Oceania countries have evolved over the years. Although we share a dynamic relationship, there is still huge untapped potential in trade and investment aspects that can be achieved. India can play a key role in reforming and creating new partnerships with these regions for enabling economic growth. The session also talked about how India can become the next potential alternative to the world, for de-risking business, bringing an opportunity to be part of global value chains.

India Education Diary | Jan 23, 2021

Engagement with ASEAN and Oceania Region will remain critical element of India's Act East Policy: Secretary (East), MEA

Ms Riva Ganguly Das, Secretary (East), Ministry of External Affairs today emphasised on the importance of India’s relations with ASEAN and Oceania countries for enhancing collaboration in areas such as Digital connectivity, Information Technology, Fintech, Healthcare and Pharmaceuticals.

Addressing the session ‘India’s Engagement with World’s Growth Centre – ASEAN and Oceania Region’, organized by FICCI, Ms Das highlighted the centrality of these two regions in terms of India’s vision for Indo-pacific and urged the industry to explore opportunities in emerging areas of cooperation like Blue economy, Disaster management and Sustainable development, Defence cooperation, building connectivity through India- Myanmar – Thailand Trilateral Highway.

Key principles of Act East Policy are promotion of economic cooperation, cultural ties, and development of strategic relationship with countries in Indo pacific region, added Ms Das.

Mr Uday Shankar, President, FICCI highlighted that in order to build new and resilient supply chains with ASEAN and Oceania region, we must upgrade the skilling, improve logistics services, and strengthen the infrastructure connectivity with ASEAN and Oceania region.

Mr Shankar also laid emphasis on business and economic cooperation in areas of mutual interest such as start-ups, and innovation, empowerment of youth and women and the development of MSMEs for elevating the plateau of our relationship with ASEAN and Oceania countries.

Mr Dilip Chenoy, Secretary General, FICCI delivered the vote of thanks.

News Vibes of India | Jan 22, 2021

Engagement with ASEAN a critical element of India's Act East Policy: Riva Ganguly

Engagement with ASEAN and Oceania Region will remain a critical element of India’s Act East Policy, Riva Ganguly Das, Secretary (East), Ministry of External Affairs said today.

The MEA Secretary emphasised on the importance of India’s relations with ASEAN and Oceania countries for enhancing collaboration in areas such as digital connectivity, information technology, fintech, healthcare and pharmaceuticals.

While addressing the session ‘India’s Engagement with World’s Growth Centre – ASEAN and Oceania Region’, organised by FICCI, Das highlighted the centrality of these two regions in terms of India’s vision for Indo-pacific.

She urged the industry to explore opportunities in emerging areas of cooperation like blue economy, disaster management and sustainable development, defence cooperation, building connectivity through India- Myanmar- Thailand Trilateral Highway.

Das further said that key principles of Act East Policy are promotion of economic cooperation, cultural ties, and development of strategic relationship with countries in Indo Pacific region.

Also present on the occasion, Uday Shankar, President, FICCI highlighted that in order to build new and resilient supply chains with ASEAN and Oceania region, we must upgrade the skilling, improve logistics services, and strengthen the infrastructure connectivity with ASEAN and Oceania region.

He further added that sectors such as start-ups and innovation, E-commerce, Infrastructure, Artificial Intelligence, Blockchain, etc. hold the maximum promise for collaboration between India and the countries in the ASEAN and Oceania region.

India’s economic relations with ASEAN and Oceania countries have evolved over the years. Although India shares a dynamic relationship, there is still huge untapped potential in trade and investment aspects that can be achieved.

India can play a key role in reforming and creating new partnerships with these regions for enabling economic growth. The session also talked about how India can become the next potential alternative to the world, for de-risking business, bringing an opportunity to be part of global value chains, as per an official release.

Business Standard | Aug 31, 2020

India seeks stronger rules of origin as it urges ASEAN for FTA review

India has pitched for stronger provisions in the rules of origin, removal of non-tariff barriers and better market access in the existing existing Free-Trade agreement (FTA) with the the Association of Southeast Asian Nations (ASEAN), arguing the changes should kick off sooner rather than later.

At the 17th Asean-India Economic Ministers Consultations held virtually on Saturday, Commerce and Industry Minister Piyush Goyal reiterated India’s consistent position that the review of the current FTA, in effect since 2010 has, has been inordinately delayed.

Goyal batted for closer engagement towards finalisation of the scoping exercise, before the ASEAN-India Leaders’ Summit scheduled in November 2020, and to start the full review before the end of this year. He said the review should make the Free Trade Agreement more user-friendly, simple, and trade facilitative for businesses.

Now, all sides have decided to direct senior officials to, "start the discussions to determine the scope of the review at the earliest", a statement by the government said on Sunday. "The review will make the agreement modern with contemporary trade facilitative practices, and streamlined customs and regulatory procedures," it added.

The Ministers also reaffirmed their commitment to take collective actions in mitigating the economic impact of the pandemic and resolved to ensure macroeconomic and financial stability. Crucially, the nations pushed for strengthening supply chain connectivity, particularly the unimpeded flow of essential goods and medicines in the region, in compliance with World Trade Organization rules.

Long time coming

The FTA with the 10-nation Asean bloc (Indonesia, Thailand, Singapore, Malaysia, The Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos) came into effect on January 1, 2010. Last year, in September, both sides agreed to review the agreement amid criticism from the domestic industry that the deal was helping imports rise much faster than exports.

Trade with Asean, which had consistently seen the best growth for Indian exports sank 10 per cent in 2019-20. Exports to the bloc stood at $31.54 billion, down by more than 15 per cent from $37.4 billion in 2018-19. Imports however remained much higher at $55.36 billion, albeit reducing from $ 59.32 billion, a 6.6 per cent fall. Imports from the region had recently been on the upswing since 2018-19 due to Chinese shipments being moved through the region, particularly Vietnam, government estimates say. But the latest pandemic and India's skirmishes with China along the Ladakh border has now restricted the flow.

“The government has critically analysed a wide number of tariff lines after consulting with industry bodies, and prepared its future vision of the deal may be asked to provide their input. All that is left now is to negotiate our position with the Asean,” a senior government official said.

India believes the deal has been instrumental in connecting Indian businesses to their South East Asian counterparts and domestic industry needs to better utilise the concessionary rates available to them. But the cost of such access has also been heavy. According to a study by the NITI Aayog, the utilisation rate of regional trade agreements (RTAs) by Indian exporters is very low (between 5 per cent and 25 per cent). Sectors where trade deficit has worsened account for 75 per cent of India’s exports to Asean, while trade surplus sectors have also shown only marginal improvement, it had added.

Also on Saturday, industry body FICCI, as the Indian secretariat of ASEAN India Business Council (AIBC) recommended an open approach to collaborate and increasingly operate in the services sector, a core component of economies in the region which has been hit hard by the pandemic. This comes in the backdrop of India-ASEAN trade target of US$ 200 bn trade by 2022, which now looks difficult, FICCI said.

Recommended to the ministers that ASEAN should consider introducing business travel cards with at least 90 days validity. Sangita Reddy, Co-Chair AIBC (India) said for special incentives for Indian pharmaceutical companies should be introduced for setting up plants in dedicated ASEAN zones.

Hindustan Times | Aug 31, 2020

Goyal asks Asean to bolster rules

Commerce and industry minister Piyush Goyal has asked the Association of Southeast Asian Nations (Asean) to strengthen their “rules of origin” provisions, one of the key concerns of India, which has experienced an influx of Chinese goods routed through some members of the 10-member grouping.

Co-chairing the 17th Asean-India Economic Ministers Consultations on Saturday through video conference, Goyal highlighted that the free trade agreement (FTA) has to be “mutually beneficial” and expressed the need to strengthen the rules of origin provisions, work towards removal of non-tariff barriers and provide better market access, a commerce ministry statement said on Sunday.

He asked for an early review of the Asean-India Trade in Goods Agreement (AITIGA) as the trade pact is hurting India’s interest, particularly because of violations of rules of origin. India is concerned and wants to review FTAs as several Chinese goods are dumped in its market through a third country with which India has a free trade agreement, a government official said, requesting anonymity.

The review is necessary as many items enter the Indian market taking advantage of the Asean-India FTA. Imports at reduced or zero duty put Indian industry at a disadvantage, the official said.

At the Asean-India Economic Ministers Consultations on Saturday, Goyal reiterated India’s consistent position that the review of the FTA has been inordinately delayed. India wants a review of the trade pact as balance of trade is heavily tilted in favour of Asean members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

According to official data, India’s exports to Asean in 2019-20 were worth $31.49 billion while its imports from the group of countries reached $55.37 billion.

An industry study pointed out that India’s imports from Asean countries increased sharply after the signing of the FTA in 2009. India in 2009 signed an FTA in goods – Asean-India Free Trade Agreement (AIFTA) – with the group, and in 2014 inked an FTA in services.

The report, India’s trade and investment opportunities with Asean, prepared by the PHD Chamber of Commerce and Industry in November 2019, said that in the post-AIFTA era, India’s merchandise exports to Asean economies increased from $23 billion in 2010 to $36 billion in 2018 at a compound annual growth rate (CAGR) of around 5%, while its merchandise imports from Asean nations increased from $30 billion in 2010 to $57 billion in 2018 — a CAGR of around 8%. The report also emphasised the need to review the existing trade arrangements for mutual gains.

On Saturday, Goyal asked for closer engagement towards finalisation of the scoping exercise, before the Asean-India Leaders’ Summit scheduled in November 2020 and to start the full review before the end of this year, the commerce ministry said in the statement. Goyal co-chaired the Saturday meeting with Vietnam’s minister of industry and trade Tran Tuan Anh.

A report of the Asean India Business Council (AIBC) was also presented in the meeting. It also recommended a review of the AITIGA for mutual benefit. The ministers from India and Asean countries instructed senior officials to start discussions to determine the scope of the review at the earliest to make the FTA more user-friendly, simple, and trade facilitative for businesses.

Sangita Reddy, co-chair of AIBC (India), said India and Asean should develop a roadmap for collaboration in the health care and pharmaceutical sectors along with knowledge exchange and digital connectivity. “She shared that special incentives for Indian pharmaceutical companies should be introduced for setting up plants in dedicated Asean zones,” the Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement. The industry association is the Indian secretariat of the AIBC.

Asean ministers reaffirmed their commitment to taking collective action in mitigating the economic impact of the coronavirus disease pandemic and resolved to ensure macroeconomic and financial stability and resilient supply chain connectivity, particularly the unimpeded flow of essential goods and medicines in the region, in compliance with the World Trade Organisation (WTO) rules, the statement said.

AIBC also recommended elimination of non- tariff measures to enable seamless movement of goods and services, FICCI said in the statement. It proposed the introduction of a business travel card which would facilitate business travel between India and Asean countries. It would have minimum 90-day validity.

“A review of all existing FTAs is necessary because of two reasons – the geopolitical dimensions that gives an opportunity to India to become a manufacturing hub for several products such as pharmaceuticals and information technology-enables services, and to check dumping of Chinese products from Asean countries that is hurting our domestic industries,” said chartered accountant Vijay Kumar Gupta, a former central council member of the Institute of Chartered Accountants of India (ICAI).

World Smachar | Aug 31, 2020

Goyal asks Asean nations to strengthen guidelines of origin to examine inflow of Chinese language items

Piyush Goyal, Union Minister for commerce and trade, has requested the Affiliation of Southeast Asian Nations (Asean) to strengthen the “guidelines of origin” provisions, considered one of India’s key considerations, as a result of the nation’s markets are being flooded by Chinese language items via some Asean international locations.

Goyal co-chaired the 17th Asean-India Financial (AEM) Ministers’ Consultations held on Saturday through videoconference in a bid to take care of social distancing norms due to the raging coronavirus illness (Covid-19) outbreak.

He highlighted that the free commerce settlement (FTA) must be “mutually useful” and expressed the necessity to strengthen the principles of origin provisions, work in the direction of elimination of non-tariff boundaries and supply higher market entry, a ministry assertion mentioned on Sunday.

Goyal requested for an early evaluate of the Asean-India Commerce in Items Settlement (AITIGA), because the commerce pact is hurting India’s curiosity, significantly due to the violation of guidelines of origin clauses.

India is worried and desires to evaluate FTAs, as a number of Chinese language items are dumped in its markets via a 3rd nation with which the nation has an settlement, a authorities official mentioned requesting anonymity.

The evaluate is critical, as many gadgets enter Indian markets benefiting from Asean-India FTA. Imports at diminished or zero responsibility put the home trade at a serious drawback, the official mentioned.

Goyal used the Asean ministerial discussion board to reiterate India’s constant place that the evaluate of the FTA has been inordinately delayed. He requested for a better engagement forward of the Asean-India Leaders’ Summit scheduled to be held in November and to begin the total evaluate earlier than the top of this 12 months, the commerce ministry mentioned within the assertion.

Goyal co-chaired the assembly with Tran Tuan Anh, Vietnam’s minister of trade and commerce.

A report of the Asean India Enterprise Council (AIBC) was additionally introduced within the assembly.

It additionally beneficial a evaluate of the AITIGA for mutual profit. The ministers from India and Asean international locations instructed the officers to begin the discussions to find out the scope of the evaluate on the earliest to make the FTA extra user-friendly for companies.

Sangita Reddy, co-chair of AIBC (India), mentioned the nation and Asean ought to develop a highway map for collaboration in healthcare and prescribed drugs sectors together with trade of information and digital connectivity. “She shared that particular incentives for Indian pharmaceutical corporations ought to be launched for establishing vegetation in devoted Asean zones,” the Federation of Indian Chambers of Commerce and Business (FICCI) mentioned in an announcement.

The trade affiliation is the Indian secretariat of AIBC.

The assembly was attended by the commerce ministers of all of the 10 Asean international locations comparable to Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The ministers reaffirmed their dedication to take collective actions in mitigating the financial affect of the Covid-19 pandemic and resolved to make sure macroeconomic and monetary stability and resilient provide chain connectivity, significantly the unimpeded stream of important items and medicines within the area, in compliance with the World Commerce Organisation (WTO) guidelines, the assertion mentioned.

AIBC additionally beneficial elimination of non- tariff measures to allow seamless motion of products and companies, FICCI mentioned within the assertion.

It proposed the introduction of a enterprise journey card which might facilitate enterprise journey between India and Asean international locations with a minimal 90-day validity.

News4pal | Aug 30, 2020

India seeks stronger guidelines of origin because it urges ASEAN for FTA overview

India has pitched for stronger provisions within the guidelines of origin, removing of non-tariff limitations and higher market entry within the present present Free-Commerce settlement (FTA) with the the Affiliation of Southeast Asian Nations (ASEAN), arguing the modifications ought to kick off sooner slightly than later.

On the 17th Asean-India Financial Ministers Consultations held nearly on Saturday, Commerce and Trade Minister Piyush Goyal reiterated India’s constant place that the overview of the present FTA, in impact since 2010 has, has been inordinately delayed.

Goyal batted for nearer engagement in direction of finalisation of the scoping train, earlier than the ASEAN-India Leaders’ Summit scheduled in November 2020, and to start out the total overview earlier than the top of this 12 months. He stated the overview ought to make the Free Commerce Settlement extra user-friendly, easy, and commerce facilitative for companies.

Now, all sides have determined to direct senior officers to, “begin the discussions to find out the scope of the overview on the earliest”, a press release by the federal government stated on Sunday. “The overview will make the settlement fashionable with modern commerce facilitative practices, and streamlined customs and regulatory procedures,” it added.

The Ministers additionally reaffirmed their dedication to take collective actions in mitigating the financial influence of the pandemic and resolved to make sure macroeconomic and monetary stability. Crucially, the nations pushed for strengthening provide chain connectivity, notably the unimpeded move of important items and medicines within the area, in compliance with World Commerce Group guidelines.

Very long time coming

The FTA with the 10-nation Asean bloc (Indonesia, Thailand, Singapore, Malaysia, The Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos) got here into impact on January 1, 2010. Final 12 months, in September, either side agreed to overview the settlement amid criticism from the home business that the deal was serving to imports rise a lot sooner than exports.

Commerce with Asean, which had persistently seen the perfect development for Indian exports sank 10 per cent in 2019-20. Exports to the bloc stood at $31.54 billion, down by greater than 15 per cent from $37.four billion in 2018-19. Imports nonetheless remained a lot greater at $55.36 billion, albeit decreasing from $ 59.32 billion, a 6.6 per cent fall. Imports from the area had not too long ago been on the upswing since 2018-19 because of Chinese language shipments being moved by the area, notably Vietnam, authorities estimates say. However the newest pandemic and India’s skirmishes with China alongside the Ladakh border has now restricted the move.

“The federal government has critically analysed a large variety of tariff traces after consulting with business our bodies, and ready its future imaginative and prescient of the deal could also be requested to supply their enter. All that’s left now’s to barter our place with the Asean,” a senior authorities official stated.

India believes the deal has been instrumental in connecting Indian companies to their South East Asian counterparts and home business wants to higher utilise the concessionary charges obtainable to them. However the price of such entry has additionally been heavy. In response to a examine by the NITI Aayog, the utilisation price of regional commerce agreements (RTAs) by Indian exporters may be very low (between 5 per cent and 25 per cent). Sectors the place commerce deficit has worsened account for 75 per cent of India’s exports to Asean, whereas commerce surplus sectors have additionally proven solely marginal enchancment, it had added.

Additionally on Saturday, business physique FICCI, because the Indian secretariat of ASEAN India Enterprise Council (AIBC) advisable an open strategy to collaborate and more and more function within the companies sector, a core element of economies within the area which has been hit exhausting by the pandemic. This comes within the backdrop of India-ASEAN commerce goal of US$ 200 bn commerce by 2022, which now appears to be like troublesome, FICCI stated.

Advisable to the ministers that ASEAN ought to think about introducing enterprise journey playing cards with at the least 90 days validity. Sangita Reddy, Co-Chair AIBC (India) stated for particular incentives for Indian pharmaceutical firms ought to be launched for organising crops in devoted ASEAN zones.

Cine News | Aug 30, 2020

Goyal asks Asean Countries to support laws of beginning to test inflow of chinese language items

Piyush Goyal, Union Minister for trade and trade, has requested the Affiliation of Southeast Asian International locations (Asean) to support the “laws of beginning” provisions, considered one of India’s key issues, since the country’s markets are being flooded by way of Chinese language items thru some Asean international locations.

Goyal co-chaired the 17th Asean-India Financial (AEM) Ministers’ Consultations hung on Saturday by means of videoconference in a bid to deal with social distancing norms on account of the raging coronavirus illness (Covid-19) outbreak.

He highlighted that the unfastened industry settlement (FTA) must be “mutually really helpful” and expressed the wish to support the foundations of beginning provisions, paintings against removing of non-tariff boundaries and supply higher marketplace get admission to, a ministry commentary stated on Sunday.

Goyal requested for an early assessment of the Asean-India Business in Items Settlement (AITIGA), because the industry pact is hurting India’s passion, in particular on account of the violation of laws of beginning clauses.

India is worried and desires to study FTAs, as a number of Chinese language items are dumped in its markets thru a 3rd nation with which the country has an settlement, a central authority respectable stated asking for anonymity.

The assessment is important, as many pieces input Indian markets making the most of Asean-India FTA. Imports at diminished or 0 accountability put the home trade at a significant downside, the respectable stated.

Goyal used the Asean ministerial discussion board to reiterate India’s constant place that the assessment of the FTA has been inordinately behind schedule. He requested for a better engagement forward of the Asean-India Leaders’ Summit scheduled to be held in November and to start out the overall assessment prior to the top of this 12 months, the trade ministry stated within the commentary.

Goyal co-chaired the assembly with Tran Tuan Anh, Vietnam’s minister of trade and industry.

A record of the Asean India Industry Council (AIBC) used to be additionally offered within the assembly.

It additionally really helpful a assessment of the AITIGA for mutual receive advantages. The ministers from India and Asean international locations advised the officers to start out the discussions to decide the scope of the assessment on the earliest to make the FTA extra user-friendly for companies.

Sangita Reddy, co-chair of AIBC (India), stated the country and Asean must expand a street map for collaboration in healthcare and prescribed drugs sectors together with trade of information and virtual connectivity. “She shared that particular incentives for Indian pharmaceutical firms must be offered for putting in place crops in devoted Asean zones,” the Federation of Indian Chambers of Trade and Trade (FICCI) stated in a commentary.

The trade affiliation is the Indian secretariat of AIBC.

The assembly used to be attended by way of the industry ministers of all of the 10 Asean international locations corresponding to Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The ministers reaffirmed their dedication to take collective movements in mitigating the commercial affect of the Covid-19 pandemic and resolved to verify macroeconomic and fiscal balance and resilient provide chain connectivity, in particular the unimpeded float of crucial items and drugs within the area, in compliance with the International Business Organisation (WTO) laws, the commentary stated.

AIBC additionally really helpful removing of non- tariff measures to permit seamless motion of products and services and products, FICCI stated within the commentary.

It proposed the creation of a industry commute card which might facilitate industry commute between India and Asean international locations with a minimal 90-day validity.

Ex Bulletin | Aug 30, 2020

Loyal urges Asean nations to tighten rules of origin to control flow of Chinese goods

Piyush Goyal, Union Minister for Trade and Industry, has urged the Association of Southeast Asian Nations (ASEAN) to strengthen the provisions of the “rules of origin”, one of India’s main concerns, as the country’s markets are flooded with Chinese goods through some Asean countries

Besnik co-chaired the 17th Asean-India Economic (AEM) Ministerial Consultations held on Saturday via videoconference in a bid to maintain socially distancing norms due to rabid coronavirus disease (Covid-19).

He stressed that the free trade agreement (FTA) should be “mutually beneficial” and expressed the need to strengthen the rules of origin provisions, work towards removing non-tariff barriers and provide better market access, he said. a ministry statement on Sunday.

Goyal called for an early revision of the Asean-India Commodity Trade Agreement (AITIGA), as the trade pact is hurting India’s interest, particularly because of a breach of the rules of origin.

India is concerned and wants to review FTAs as some Chinese goods are thrown into its markets through a third country with which the nation has a deal, a government official said on condition of anonymity.

Review is needed as many items enter Indian markets taking advantage of FTA Asean-India. Reduced or zero duty imports put the country’s industry at a huge disadvantage, the official said.

Goyal used the Asean ministerial forum to reiterate India’s consistent stance that the FTA review has been regularly delayed. He called for closer engagement ahead of the Asean-India Leaders Summit scheduled for November and begin the full review before the end of this year, the trade ministry said in a statement.

Besnik co-chaired the meeting with Tran Tuan Anh, Vietnam’s minister of industry and trade.

A report by the Asean India Business Council (AIBC) was also presented at the meeting.

Also recommended a review of AITIGA for mutual benefits. Ministers from India and Asean countries instructed officials to start discussions to determine the purpose of the review as soon as possible to make the FTA more business friendly.

Sangita Reddy, co-chair of AIBC (India), said the nation and Asean should draw up a roadmap for cooperation in the healthcare and pharmaceutical sectors, along with knowledge sharing and digital connectivity. “She shared that special incentives for Indian pharmaceutical companies should be introduced for plant establishment in dedicated Asean areas,” the Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement.

The Industry Association is the Indian secretariat of AIBC.

The meeting was attended by trade ministers of all 10 Asian countries, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The Ministers reaffirmed their commitment to take collective action to mitigate the economic impact of the Covid-19 pandemic and determined to ensure macroeconomic and financial stability and resilient supply chain linkages, in particular the unimpeded flow of essential goods and medicines in the region. in accordance with the rules of the World Trade Organization (WTO), the statement said.

AIBC also recommended the elimination of non-tariff measures to enable the smooth movement of goods and services, FICCI said in a statement.

He proposed the introduction of a business travel card which would facilitate business travel between India and the Asean countries with a minimum 90-day validity.

India Tour Tips | Aug 30, 2020

Goyal asks Asean nations to strengthen rules of origin to check influx of Chinese goods

Piyush Goyal, Union Minister for commerce and industry, has asked the Association of Southeast Asian Nations (Asean) to strengthen the “rules of origin” provisions, one of India’s key concerns, because the nation’s markets are being flooded by Chinese goods through some Asean countries.

Goyal co-chaired the 17th Asean-India Economic (AEM) Ministers’ Consultations held on Saturday via videoconference in a bid to maintain social distancing norms because of the raging coronavirus disease (Covid-19) outbreak.

He highlighted that the free trade agreement (FTA) has to be “mutually beneficial” and expressed the need to strengthen the rules of origin provisions, work towards removal of non-tariff barriers and provide better market access, a ministry statement said on Sunday.

Goyal asked for an early review of the Asean-India Trade in Goods Agreement (AITIGA), as the trade pact is hurting India’s interest, particularly because of the violation of rules of origin clauses.

India is concerned and wants to review FTAs, as several Chinese goods are dumped in its markets through a third country with which the nation has an agreement, a government official said requesting anonymity.

The review is necessary, as many items enter Indian markets taking advantage of Asean-India FTA. Imports at reduced or zero duty put the domestic industry at a major disadvantage, the official said.

Goyal used the Asean ministerial forum to reiterate India’s consistent position that the review of the FTA has been inordinately delayed. He asked for a closer engagement ahead of the Asean-India Leaders’ Summit scheduled to be held in November and to start the full review before the end of this year, the commerce ministry said in the statement.

Goyal co-chaired the meeting with Tran Tuan Anh, Vietnam’s minister of industry and trade.

A report of the Asean India Business Council (AIBC) was also presented in the meeting.

It also recommended a review of the AITIGA for mutual benefit. The ministers from India and Asean countries instructed the officials to start the discussions to determine the scope of the review at the earliest to make the FTA more user-friendly for businesses.

Sangita Reddy, co-chair of AIBC (India), said the nation and Asean should develop a road map for collaboration in healthcare and pharmaceuticals sectors along with exchange of knowledge and digital connectivity. “She shared that special incentives for Indian pharmaceutical companies should be introduced for setting up plants in dedicated Asean zones,” the Federation of Indian Chambers of Commerce and Industry (FICCI) said in a statement.

The industry association is the Indian secretariat of AIBC.

The meeting was attended by the trade ministers of all the 10 Asean countries such as Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The ministers reaffirmed their commitment to take collective actions in mitigating the economic impact of the Covid-19 pandemic and resolved to ensure macroeconomic and financial stability and resilient supply chain connectivity, particularly the unimpeded flow of essential goods and medicines in the region, in compliance with the World Trade Organisation (WTO) rules, the statement said.

AIBC also recommended elimination of non- tariff measures to enable seamless movement of goods and services, FICCI said in the statement.

It proposed the introduction of a business travel card which would facilitate business travel between India and Asean countries with a minimum 90-day validity.

Top Live News | Aug 30, 2020

Goyal asks Asean to bolster guidelines

Commerce and business minister Piyush Goyal has requested the Affiliation of Southeast Asian Nations (Asean) to strengthen their “guidelines of origin” provisions, one of many key issues of India, which has skilled an inflow of Chinese language items routed via some members of the 10-member grouping.

Co-chairing the 17th Asean-India Financial Ministers Consultations on Saturday via video convention, Goyal highlighted that the free commerce settlement (FTA) must be “mutually helpful” and expressed the necessity to strengthen the foundations of origin provisions, work in the direction of elimination of non-tariff boundaries and supply higher market entry, a commerce ministry assertion mentioned on Sunday.

He requested for an early assessment of the Asean-India Commerce in Items Settlement (AITIGA) because the commerce pact is hurting India’s curiosity, significantly due to violations of guidelines of origin. India is worried and desires to assessment FTAs as a number of Chinese language items are dumped in its market via a 3rd nation with which India has a free commerce settlement, a authorities official mentioned, requesting anonymity.

The assessment is important as many gadgets enter the Indian market profiting from the Asean-India FTA. Imports at lowered or zero obligation put Indian business at a drawback, the official mentioned.

On the Asean-India Financial Ministers Consultations on Saturday, Goyal reiterated India’s constant place that the assessment of the FTA has been inordinately delayed. India desires a assessment of the commerce pact as steadiness of commerce is closely tilted in favour of Asean members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

In line with official information, India’s exports to Asean in 2019-20 had been value $31.49 billion whereas its imports from the group of nations reached $55.37 billion.

An business research identified that India’s imports from Asean international locations elevated sharply after the signing of the FTA in 2009. India in 2009 signed an FTA in items – Asean-India Free Commerce Settlement (AIFTA) – with the group, and in 2014 inked an FTA in providers.

The report, India’s commerce and funding alternatives with Asean, ready by the PHD Chamber of Commerce and Business in November 2019, mentioned that within the post-AIFTA period, India’s merchandise exports to Asean economies elevated from $23 billion in 2010 to $36 billion in 2018 at a compound annual progress charge (CAGR) of round 5%, whereas its merchandise imports from Asean nations elevated from $30 billion in 2010 to $57 billion in 2018 — a CAGR of round 8%. The report additionally emphasised the necessity to assessment the present commerce preparations for mutual positive aspects.

On Saturday, Goyal requested for nearer engagement in the direction of finalisation of the scoping train, earlier than the Asean-India Leaders’ Summit scheduled in November 2020 and to begin the total assessment earlier than the top of this 12 months, the commerce ministry mentioned within the assertion. Goyal co-chaired the Saturday assembly with Vietnam’s minister of business and commerce Tran Tuan Anh.

A report of the Asean India Enterprise Council (AIBC) was additionally offered within the assembly. It additionally really helpful a assessment of the AITIGA for mutual profit. The ministers from India and Asean international locations instructed senior officers to begin discussions to find out the scope of the assessment on the earliest to make the FTA extra user-friendly, easy, and commerce facilitative for companies.

Sangita Reddy, co-chair of AIBC (India), mentioned India and Asean ought to develop a roadmap for collaboration within the well being care and pharmaceutical sectors together with data trade and digital connectivity. “She shared that particular incentives for Indian pharmaceutical firms must be launched for establishing vegetation in devoted Asean zones,” the Federation of Indian Chambers of Commerce and Business (FICCI) mentioned in an announcement. The business affiliation is the Indian secretariat of the AIBC.

Asean ministers reaffirmed their dedication to taking collective motion in mitigating the financial impression of the coronavirus illness pandemic and resolved to make sure macroeconomic and monetary stability and resilient provide chain connectivity, significantly the unimpeded circulate of important items and medicines within the area, in compliance with the World Commerce Organisation (WTO) guidelines, the assertion mentioned.

AIBC additionally really helpful elimination of non- tariff measures to allow seamless motion of products and providers, FICCI mentioned within the assertion. It proposed the introduction of a enterprise journey card which might facilitate enterprise journey between India and Asean international locations. It will have minimal 90-day validity.

“A assessment of all present FTAs is important due to two causes – the geopolitical dimensions that provides a chance to India to develop into a producing hub for a number of merchandise comparable to prescribed drugs and data technology-enables providers, and to verify dumping of Chinese language merchandise from Asean international locations that’s hurting our home industries,” mentioned chartered accountant Vijay Kumar Gupta, a former central council member of the Institute of Chartered Accountants of India (ICAI).

Asian Community News | Aug 29, 2020

India reiterates review of ASEAN India FTA, FICCI supports the cause

FICCI as the Indian secretariat of ASEAN India Business Council (AIBC) presented recommendations of 2020 to enhance trade and investment between India and ASEAN at 52nd India AEM held virtually on Saturday.

This comes in the backdrop of the India-ASEAN trade target of US$ 200 bn trade by 2022, which now looks difficult. The meeting was chaired by H.E Tran Tuan Anh, Minister of Industry and Trade, Vietnam, Dato Lim Jock Hoi, Secretary-General of ASEAN. Piyush Goyal, Minister of Railways and Commerce & Industry, Government of India led the talks from the Indian side.

Addressing at India-ASEAN AEM, Piyush Goyal said that India and ASEAN are the service-oriented economies, and this is one of the sectors affected by the pandemic. We must adopt an open approach to collaborate and operate in the services sector. Emphasizing on reviewing ASEAN-India Trade in Goods Agreement (AITIGA), the Minister mentioned that the Indian Industry is disappointed and reiterated India’s request for an immediate review of the agreement and to harmonised the text with modern trade practices and make the arrangement more balanced and equitable.

Dr. Sangita Reddy, Co-Chair AIBC (India) reiterated the quote of Prime Minister of India, Narendra Modi, that India and ASEAN are two bright spots of optimism. She further said that India and ASEAN should develop a roadmap for collaboration in Healthcare and Pharmaceuticals sectors along with knowledge exchange and digital connectivity. She shared that special incentives for Indian Pharmaceutical companies should be introduced for setting up plants in dedicated ASEAN zones.

Dr. Reddy, further recommended that India and ASEAN facilitate greater knowledge sharing and best practices, collaborative research, capacity building, and training programs in the areas of Artificial Intelligence, Big data, and Blockchain, especially focusing on financial services, health tech, and transportation, etc. This will help us achieve long term economic growth and positive social outcomes.

AIBC recommends reviewing AITIGA and considering the elimination of non- tariff measures to enable seamless movement of goods and services. To build on India- ASEAN partnership, we must address the trade barriers, policy, regulation, and issues related to infrastructure and investment. AIBC also recommended that ASEAN should consider introducing business travel cards which would facilitate business travel between India and ASEAN countries, with at least 90 days of validity.

Dato Ramesh Kodammal, Co-Chair AIBC (ASEAN) said that the business community of ASEAN and India has tremendous partnership potential to take this economic engagement to greater heights. From the ASEAN side, Dato Kodammal said that a review of AITIGA is critical as India’s participation at RCEP is still not certain. He also emphasised that Rules of Origin norms between India and ASEAN need to be discussed as part of the negotiations.

SME Times | Aug 28, 2020

Industry calls for review of AITIGA to resolve key issues

Industry body FICCI has asked the government to review issues like reduction of Non - tariff barriers, building infrastructure and connectivity, integrating logistics, seamless digital connect, etc.

Sangita Reddy, Co-Chair (India), ASEAN - India Business Council and President, FICCI & Joint Managing Director, Apollo Hospitals Group said that India needs to work along with ASEAN countries in reduction of Non - tariff barriers, building infrastructure and connectivity, integrating logistics, seamless digital connect, collaboration in healthcare and pharmaceuticals and push for review of AITIGA.

She highlighted that collective thoughts of ASEAN members will outline a roadmap towards seamless movement of goods and services.

FICCI, as Secretariat of ASEAN - India Business Council organised a virtual interaction of AIBC Members with Mr Piyush Goyal, Minister of Railways and Commerce & Industry, Government of India. The meeting was attended by senior industry leaders from India and ASEAN and senior officials of Government of India.

Addressing the AIBC Members meeting, Mr Piyush Goyal said that 3Cs- Cooperation, Collaboration and Commitment, will guide the strategic partnership between India and ASEAN countries.

He also said that India has taken major steps towards Atmanirbhar Bharat, ready to engage with rest of the world with a deep concern for the global community as a whole.

Dato Ramesh Kodammal, Co-Chair (ASEAN) emphasised that ASEAN and India should take concrete steps towards increasing the trade between two regions as the regions offer a huge market consisting of one-third of world's population together.

Sandip Somany, Immediate Past President, FICCI and Vice Chairman & Managing Director of HSIL Limited suggested that Fast Tracking Mechanism for priority clearance of import-export cargo under Joint working group between Government and industry and adherence to the Rules of Origin norms to be considered while reviewing India ASEAN FTA.

SME Venture | Jul 26, 2020

India-ASEAN to play a lead role in Post-COVID World Economic Recovery: Dr. Jitendra Singh

The Minister said that North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian Nations. He said, Prime Minister Shri Narendra Modi has changed the policy of “Look East” to “Act East” to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Dr. Jitendra Singh said that in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity, helping facilitate the movement of goods and persons not only across the region but also across the country. He recalled that that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Narendra Modi, has cleared the decks for ease of business, ease of movement and ease of commuting, which was earlier a tedious task. He said that very soon we are also going to have a train to Bangladesh from Tripura heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports. He also underlined the continued focus of the Indian Government to explore the alternate modes of transport that is Inland Waterways (from Brahmaputra to Bay of Bengal) connecting with other countries of the region as a cheaper option for trade, business and transportation. He said this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

Dwelling on the all-round developmental role played by women folk and women self-help groups in the North Eastern Region, Dr.Jitendra Singh said that this is a shining example of women emancipation and women empowerment. He said even during the times of pandemic, women from the North East took a lead and produced and distributed sanitizer and beautiful masks on a large scale. He said that women have excelled in the fight against Pandemic and helped North-Eastern Region to emerge as a Model of Corona Management.

In his concluding remarks, Dr.Jitendra Singh expressed hope that Bamboo will play a vital role in post COVID economic recovery and India and ASEAN will join together to realize its full potential in all aspects of life. In this regard, he referred to the amendment in the 100-year-old Indian Forest Act brought about by the Modi government in 2017, as a result of which, home grown bamboo has been exempted from it in order to enhance livelihood opportunities through bamboo.

Sharing his optimism for tourism sector in the North-East, the Minister said, when main tourist spots of the World still remain infested with Corona, the N-E region could emerge as tourist destination of the world by remaining Corona-free virtually.

Dr.Jitendra Singh also launched the India-ASEAN Joint Business Collaboration for Women on the occasion. The Minster was also awarded with the Green Certificate for his concerns on sustainable development.

Pacita Juan from Philippines, ASEAN Chair, Ma KhineZ aw from Myanmar Nadira Yousuff from Malaysia, Vinita Bimbhet, India Chair, India ASEAN Women’s Business Forum, Jahnabi Phookan, National President, FLO and Joyshree Das Verma among others took part in the webinar.

Elets News | Jul 25, 2020

India-ASEAN, key driver for World Economic Recovery in Post-COVID era: Dr Jitendra Singh

During his keynote address on Cross-Border Conversations with entrepreneurs from ASEAN, Union Minister of State (IC) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh, on July 24, said that due to close business and cultural ties between India and ASEAN, hence the region will play a lead role in the Post-COVID World Economic Recovery. The video meeting was organised by India ASEAN Women’s Business Forum, FLO Mumbai chapter and FICCI.

The Minister said that the North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South-East Asian Nations. Prime Minister Narendra Modi has changed the policy of “Look East” to “Act East” to take the bilateral cooperation to newer heights, he added.

Referring to the connectivity issues, Dr Jitendra Singh said that in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity, helping facilitate the movement of goods and persons not only across the region but also across the country. He recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Narendra Modi, has cleared the decks for ease of business, ease of movement and ease of commuting, which was earlier a tedious task. He said that very soon we are also going to have a train to Bangladesh from Tripura heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports.

Dr Singh also underlined the continued focus of the Indian government to explore the alternate modes of transport that is Inland Waterways (from the Brahmaputra to the Bay of Bengal) connecting with other countries of the region as a cheaper option for trade, business and transportation.

Further, Dr Singh, highlighting the all-round developmental role played by womenfolk and women self-help groups in the region, said that this is a shining example of women emancipation and women empowerment. He said even during the times of pandemic, women from the North East took a lead and produced and distributed sanitizer and beautiful masks on a large scale.

The Minister launched the India-ASEAN Joint Business Collaboration for Women on the occasion. He was also awarded the Green Certificate for his concerns on sustainable development.

DD News | Jul 24, 2020

India, ASEAN will play a lead role in Post-COVID World Economic Recovery: Dr Jitendra Singh

Union Minister for Development of North Eastern Region Dr. Jitendra Singh on Friday said that India and ASEAN will play a lead role in the Post-COVID World Economic Recovery.

The Minister said, the future belongs to them due to common traits of grit, courage and determination to scale newer heights. The Minister was delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women’s Business Forum and FICCI.

Union Minister said, due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post-Corona era. The Minister said that North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian Nations. He said, Prime Minister Narendra Modi has changed the policy of Look East to Act East with a view to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Union Minister said, in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity.

The Minister recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Narendra Modi, has cleared the decks for ease of business, ease of movement and ease of commuting.

The Minister said that there will be a train to Bangladesh from Tripura very soon heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports.

Union Minister also emphsized the continued focus of the Central Government to explore the alternate modes of transport that is Inland Waterways connecting with other countries of the region as a cheaper option for trade, business and transportation. The Minister said, this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

India Education Diary | Jul 24, 2020

India-ASEAN to play a lead role in Post-COVID World Economic Recovery: Dr. Jitendra Singh

Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh today said that India and ASEAN will play a lead role in the Post-COVID World Economic Recovery. He said, the future belongs to them due to common traits of grit, courage and determination to scale newer heights. Delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women’s Business Forum and FLO Mumbai chapter and FICCI, Dr. Jitendra Singh said that due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post Corona era. The Minister said that North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian Nations. He said, Prime Minister Shri Narendra Modi has changed the policy of “Look East” to “Act East” to take the bilateral cooperation to newer heights.

Dwelling on the all-round developmental role played by women folk and women self-help groups in the North Eastern Region, Dr. Jitendra Singh said that this is a shining example of women emancipation and women empowerment. He said even during the times of pandemic, women from the North East took a lead and produced and distributed sanitizer and beautiful masks on a large scale. He said that women have excelled in the fight against Pandemic and helped North-Eastern Region to emerge as a Model of Corona Management.

In his concluding remarks, Dr. Jitendra Singh expressed hope that Bamboo will play a vital role in post COVID economic recovery and India and ASEAN will join together to realize its full potential in all aspects of life. In this regard, he referred to the amendment in the 100-year-old Indian Forest Act brought about by the Modi government in 2017, as a result of which, home grown bamboo has been exempted from it in order to enhance livelihood opportunities through bamboo.

Dr. Jitendra Singh also launched the India-ASEAN Joint Business Collaboration for Women on the occasion. The Minster was also awarded with the Green Certificate for his concerns on sustainable development.

Pacita Juan from Philippines, ASEAN Chair, Ma Khine Zaw from Myanmar Nadira Yousuff from Malaysia, Vinita Bimbhet, India Chair, India ASEAN Women’s Business Forum, Jahnabi Phookan, National President, FLO and Joyshree Das Verma among others took part in the webinar.

Outlook | Jul 24, 2020

Special role for NE region in promotion of trade with ASEAN: Minister Singh

Union minister Jitendra Singh on Friday said the Northeastern region has a special role to play in the promotion of trade and business with ASEAN countries as it is the gateway to the growing economies of South East Asian nations.

Singh also said that India and ASEAN will have a major role in the post-COVID-19 world and its economy and the future belongs to them due to common traits of grit, courage and determination to scale newer heights.

Delivering the keynote address on cross-border conversations with entrepreneurs from the ASEAN organised by India ASEAN Women''s Business Forum and FICCI, Singh said due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post-COVID-19 era.

Singh, the Union minister for the development of north eastern region (DoNER), said the Northeastern region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian nations.

He said Prime Minister Narendra Modi has changed the policy of ''Look East'' to ''Act East'' to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Singh said in the last six years, there has been a significant development in terms of road, rail and air connectivity, helping facilitate the movement of goods and persons not only across the region but also across the country.

The minister recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Modi, has cleared the decks for ease of business, ease of movement and ease of commuting, which was earlier a tedious task.

He said very soon a train will run to Bangladesh from Tripura heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to seaports.

The minister also underlined the continued focus of the Indian government to explore alternate modes of transport that is inland waterways (from Brahmaputra to Bay of Bengal) connecting with other countries of the region as a cheaper option for trade, business and transportation.

He said this will boost the trade across the borders especially with the eastern neighbours by leaps and bounds.

Dwelling on the all-round developmental role played by women and their self-help groups in the Northeastern region, Singh said it is a shining example of women emancipation and women empowerment.

He said even during the times of pandemic, women from the Northeast took a lead and, produced and distributed sanitizers and beautiful masks on a large scale.

He said women have excelled in the fight against pandemic and helped the Northeastern region to emerge as a model of coronavirus management.

Singh also launched the India-ASEAN joint business collaboration on the occasion.

The minster was awarded with the green certificate for his concerns for sustainable development and preservation of environment.

AIR News | Jul 24, 2020

India, ASEAN will play a lead role in Post-COVID World Economic Recovery: Dr Jitendra Singh

Union Minister for Development of North Eastern Region Dr Jitendra Singh today said that India and ASEAN will play a lead role in the Post-COVID World Economic Recovery. He said, the future belongs to them due to common traits of grit, courage and determination to scale newer heights. He was delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women’s Business Forum and FICCI.

Dr. Singh said, due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post-Corona era. The Minister said that North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian Nations. He said, Prime Minister Narendra Modi has changed the policy of Look East to Act East with a view to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Dr. Singh said, in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity. He recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Narendra Modi, has cleared the decks for ease of business, ease of movement and ease of commuting.

He said that there will be a train to Bangladesh from Tripura very soon heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports. He also emphsized the continued focus of the Central Government to explore the alternate modes of transport that is Inland Waterways connecting with other countries of the region as a cheaper option for trade, business and transportation. He said, this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

Northeast Now | Jul 24, 2020

Northeast to emerge as a model of Corona management: DoNER Minister

DoNER Minister Jitendra Singh on Friday said that women from the state of the northeast have excelled in the fight against COVID-19 pandemic and helped the region to emerge as a model of Corona management.

“This is a shining example of women emancipation and women empowerment,” Singh said.

He was delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women’s Business Forum and FLO Mumbai chapter and FICCI.

“Even during the times of pandemic, women from the northeast took a lead and produced and distributed sanitizer and beautiful masks on a large scale,” he added.

Singh said that due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post-Corona era.

The DoNER minister said that the northeast has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South-East Asian nations.

He said Prime Minister Narendra Modi has changed the policy of “Look East” to “Act East” to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Dr Singh said that in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity, helping facilitate the movement of goods and persons not only across the region but also across the country.

He recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Modi, has cleared the decks for ease of business, ease of movement and ease of commuting, which was earlier a tedious task.

“Very soon we are also going to have a train to Bangladesh from Tripura heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports,” he said.

The DoNER minister also underlined the continued focus of the Indian Government to explore the alternate modes of transport that is Inland Waterways (from the Brahmaputra to the Bay of Bengal) connecting with other countries of the region as a cheaper option for trade, business and transportation.

He said this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

Dr Singh expressed hope that Bamboo will play a vital role in post-COVID economic recovery and India and ASEAN will join together to realize its full potential in all aspects of life.

Jammu Links News | Jul 24, 2020

India, ASEAN to have major role in Post-COVID world: Dr Jitendra Singh

He said, the future belongs to them due to common traits of grit, courage and determination to scale newer heights.

Delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women's Business Forum and FLO Mumbai chapter and FICCI, Dr. Jitendra Singh said that due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post COVID era.

He said that North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South East Asian Nations.

He said, Prime Minister Narendra Modi has changed the policy of "Look East" to "Act East" to take the bilateral cooperation to newer heights.

He recalled that that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Modi, has cleared the decks for ease of business, ease of movement and ease of commuting, which was earlier a tedious task. He said that very soon we are also going to have a train to Bangladesh from Tripura heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports.

The Minister also underlined the continued focus of the Indian Government to explore the alternate modes of transport that is Inland Waterways (from Brahmaputra to Bay of Bengal) connecting with other countries of the region as a cheaper option for trade, business and transportation. He said this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

Dwelling on the all-round developmental role played by women folk and women Self-Help Groups in the North Eastern Region, Dr. Jitendra Singh said that this is a shining example of women emancipation and women empowerment. He said even during the times of pandemic, women from the North East took a lead and, produced and distributed sanitizer and beautiful masks on a large scale.

He said that women have excelled in the fight against Pandemic and helped North-Eastern Region to emerge as a Model of Corona Management.

In his concluding remarks, Dr. Jitendra Singh expressed hope that Bamboo will play a vital role in post COVID economic recovery and India and ASEAN will join together to realize its full potential in all aspects of life. In this regard, he referred to the amendment in the 100-year-old Indian Forest Act brought about by the Modi government in 2017, as a result of which, home grown bamboo has been exempted from it in order to enhance livelihood opportunities through bamboo.

Dr. Jitendra Singh also launched the India-ASEAN Joint Business Collaboration on the occasion.

The Minster was also awarded with the Green Certificate for his concerns for sustainable development and preservation of environment.

Pacita Juan from Philippines, ASEAN Chair, Ma Khine Zaw from Myanmar Nadira Yousuff from Malaysia, Vinita Bimbhet, India Chair, India ASEAN Women's Business Forum, Jahnabi Phookan, National President, FLO and Joyshree Das Verma among others took part in the webinar.

News Ne India | Jul 24, 2020

Northeast to emerge as a model of Corona management: DoNER Minister

DoNER Minister Jitendra Singh on Friday said that women from Northeast region have exceeded expectations in the battle against COVID-19 pandemic and helped the region to develop as a model of Corona management

"This is a brilliant illustration of women liberation and women strengthening," Singh said.

He was conveying the keynote address on Cross-fringe Conversations with business people from ASEAN sorted out by India ASEAN Women's Business Forum and FLO Mumbai part and FICCI.

"In any event, during the hours of pandemic, women from the Northeast took a lead and delivered and appropriated sanitizer and excellent veils for a huge scope," he included.

Singh said that because of close business and social ties among India and ASEAN, the locale will take a lead in the financial recuperation in the post-Corona period.

The DoNER serve said that the Northeast has an exceptional task to carry out in the advancement of exchange and business relations with ASEAN as it is the passage to the developing economies of South-East Asian countries.

He said Prime Minister Narendra Modi has changed the strategy of "Look East" to "Act East" to take the two-sided collaboration to more current statures.

Alluding to the network issues, Dr Singh said that over the most recent six years, there has been a huge improvement as far as Road, Rail and Air availability, encouraging the development of products and people over the locale as well as the nation over.

He reviewed that the Indo-Bangladesh arrangement for trade of enclaves, which was practiced under the initiative of Prime Minister Modi, has prepared for battle for simplicity of business, simplicity of development and simplicity of driving, which was prior a repetitive errand.

"Very soon we are likewise going to have a train to Bangladesh from Tripura proclaiming another section and opening new vistas in the advancement of this area by giving the whole locale access to the seaports," he said.

The DoNER serve additionally underlined the proceeded with focal point of the Indian Government to investigate the substitute methods of transport that is Inland Waterways (from the Brahmaputra to the Bay of Bengal) associating with different nations of the locale as a less expensive choice for exchange, business and transportation.

He said this will help the exchange over the outskirts particularly with our eastern neighbors significantly.

Dr Singh communicated trust that Bamboo will assume an indispensable job in post-COVID financial recuperation and India and ASEAN will consolidate to understand its maximum capacity in all parts of life.

The Hans India | Jul 24, 2020

India, ASEAN will play a lead role in Post-COVID World Economic Recovery: Dr Jitendra Singh

Union Minister of State (Independent Charge) for Development of North Eastern Region Dr Jitendra Singh today said that India and ASEAN will play a lead role in the Post-COVID World Economic Recovery. He said the future belongs to them due to common traits of grit, courage and determination to scale newer heights.

He was delivering the keynote address on Cross-border Conversations with entrepreneurs from ASEAN organized by India ASEAN Women's Business Forum and FICCI.

Dr Jitendra Singh in a tweet today said, "Delivered keynote address at ASEAN Women's Business Forum. India and ASEAN will have a major role in Post-COVID world & its Economy. Future belongs to their common traits of grit, courage and determination to scale new heights."

Dr Singh said, due to close business and cultural ties between India and ASEAN, the region will take a lead in the economic recovery in the post-Corona era. The Minister said that the North Eastern Region has a special role to play in the promotion of trade and business relations with ASEAN as it is the gateway to the growing economies of South-East Asian Nations. He said Prime Minister Narendra Modi has changed the policy of Look East to Act East intending to take the bilateral cooperation to newer heights.

Referring to the connectivity issues, Dr Singh said, in the last six years, there has been a significant development in terms of Road, Rail and Air connectivity. He recalled that the Indo-Bangladesh treaty for exchange of enclaves, which was accomplished under the leadership of Prime Minister Narendra Modi, has cleared the decks for ease of business, ease of movement and ease of commuting.

He said that there will be a train to Bangladesh from Tripura very soon heralding a new chapter and opening new vistas in the development of this region by providing the entire region access to the seaports. He also emphasized the continued focus of the Central Government to explore the alternate modes of transport that is Inland Waterways connecting with other countries of the region as a cheaper option for trade, business and transportation. He said this will boost the trade across the borders especially with our eastern neighbours by leaps and bounds.

World360 News | Jul 24, 2020

India-ASEAN to play a lead role in Post-COVID World Economic Recovery: Dr.Jitendra Singh

Dwelling on the all-round developmental role played by women folk and women self-help groups in the North Eastern Region, Dr. Jitendra Singh said that this is a shining example of women emancipation and women empowerment. He said even during the times of pandemic, women from the North East took a lead and produced and distributed sanitizer and beautiful masks on a large scale. He said that women have excelled in the fight against Pandemic and helped North-Eastern Region to emerge as a Model of Corona Management.

In his concluding remarks, Dr. Jitendra Singh expressed hope that Bamboo will play a vital role in post COVID economic recovery and India and ASEAN will join together to realize its full potential in all aspects of life. In this regard, he referred to the amendment in the 100-year-old Indian Forest Act brought about by the Modi government in 2017, as a result of which, home grown bamboo has been exempted from it in order to enhance livelihood opportunities through bamboo.

Dr. Jitendra Singh also launched the India-ASEAN Joint Business Collaboration for Women on the occasion. The Minster was also awarded with the Green Certificate for his concerns on sustainable development.

Pacita Juan from Philippines, ASEAN Chair, Ma Khine Zaw from Myanmar Nadira Yousuff from Malaysia, Vinita Bimbhet, India Chair, India ASEAN Women’s Business Forum,Jahnabi Phookan, National President, FLO and Joyshree Das Vermaamong others took part in the webinar.

Fibre2fashion | Mar 03, 2020

New Zealand to wait for trade pact if India out of RCEP

New Zealand will look forward to a bilateral trade agreement with India if New Delhi does not join the China-backed Regional Comprehensive Economic Partnership (RCEP). "But if they don't participate in RCEP then we will obviously want to pursue a trading relationship through a different means," New Zealand's trade and export growth minister David Parker said.

Parker was speaking at the India-New Zealand Business Forum organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi last week.

India in November decided not to join RCEP as negotiations failed to satisfactorily address New Delhi's ‘outstanding issues and concerns’. However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

Parker said he had Indian commerce minister Piyush Goyal had discussed the issues and it would be known by the end of the year whether India chooses to stay out or participate in RCEP, according to a report in a top business daily.

Noting that New Zealand was disappointed with India’s decision on RCEP, Parker said the disappointment was not only for lost bilateral opportunities but also because the nation believes there is a strategic benefit for India of being on the table when the regional trade rules are made.

The RCEP negotiations were launched by leaders from 10 member states of the Association of Southeast Asian nations and six other countries -- India, China, Japan, South Korea, Australia and New Zealand during the 21st ASEAN Summit in Phnom Penh in November 2012.

SME Times | Mar 02, 2020

'Need to strengthen India-New Zealand trade ties'

Minister for Trade and Export Growth, New Zealand, David Parker, recently said that India and New Zealand need to further strengthen their socio-economic relations.

Speaking at 'India-New Zealand Business Forum', organized by FICCI, Parker said, "We both need trade to help us address the most significant global issues to access the international market. We need to support the economic growth and development and avoid environmental damage impacting the people."

He added that New Zealand is engaging with various states in India to provide latest technology in agriculture, food storage and supply chain infrastructure to reduce food wastage. He said that New Zealand companies have started working with Indian businesses under the Make in India program.

He also emphasized on the need to adopt newer technologies to encourage innovations and bridge the gap between the two nations.

"Trade policies play an important role. There is lot that we can do together," said Parker.

Highlighting the role of greater women entrepreneurs to nation's GDP, Mr Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade. "

According to IMF, greater female participation boosts growth by up to 35 percent of the GDP," he said adding that there are equal opportunities for women in India which will also contribute significantly to India's GDP growth.

New Zealand's Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. "We have developed new 'Trade for All' trade policy to ensure sustainable economic development and inclusive growth."

Sangita Reddy, President, FICCI said that India is not only a large market, but we are also a diverse market with immense talent pool of all types.

She further added that India as a sandbox of 'Innovation and Learning' is providing an opportunity to our global partners to grow faster than they were growing earlier.

The Free Press Journal | Feb 28, 2020

New Zealand for bilateral trade pact with India

New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP.

The Narendra Modi-led government in November decided not to join Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi's "outstanding issues and concerns".

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

"I met with your minister of commerce (Piyush Goyal) yesterday and we discussed those issues. Of course, New Zealand and India have been busy for some years negotiating through the rubric of RCEP and we will know by the end of the year as to whether India chooses to stay out or participate in RCEP.

"But if they don't participate in RCEP then we will obviously want to pursue a trading relationship through a different means," New Zealand's Minister for Trade and Export Growth David Parker said at a FICCI conference.

Responding to issues concerning the opening of domestic dairy sector, he said New Zealand appreciates the concerns of the Indian dairy industry but expressed hope that some solutions could be arrived at through negotiations.

"We know it is an issue of sensitivity to the Indian government on behalf of the people. We know that there is a real issue for India. The only way that a deal is eventually done is if it is mutually beneficial. How might that be done in respect of dairy. Well it would be good if it were a fact based argument".

India's dairy industry -- the largest in the world -- had expressed apprehension that the RCEP trade pact would severely impact dairy farmers because of cheaper imports from Australia and New Zealand.

Observing that New Zealand was disappointed after India did not join the conclusion of the RCEP negotiations, Parker said the disappointment was not only for lost bilateral opportunities but also because the nation believes there is a strategic benefit for India of being on the table when the regional trade rules are made.

"We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments," New Zealand's Minister for Trade and Export Growth said.

The RCEP negotiations were launched by leaders from 10 ASEAN member states and six other countries -- India, China, Japan, South Korea, Australia and New Zealand during the 21st ASEAN Summit in Phnom Penh in November 2012.

The Economic Times | Feb 28, 2020

New Zealand trade ministry allays India's dairy import fears

New Zealand has said there is no prospect of New Zealand flooding the Indian market with or without a trade agreement, seeking to allay New Delhi’s fears on dairy imports. The country's minister for trade and export growth David Parker said New Zealand is keen to address India’s concerns on the Regional Comprehensive Economic Partnership (RCEP) trade agreement and its preference is to proceed with the pact with India in the trade grouping.

“There is no prospect of New Zealand flooding the Indian market with or without an FTA,” Parker told ET.

New Zealand is a member of RCEP and was pushing for opening up of India’s dairy sector, triggering fears of dumping of dairy products from milk-surplus countries Australia and New Zealand. Opening up of the dairy sector was one of the key concern areas for India in the RCEP talks.

On the issue of restarting the talks for a bilateral trade pact, he said: “The bilateral free trade agreement was put on a back burner ever since we been negotiating RCEP”.

However, New Zealand said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the regional trade pact. “Having said that, if that doesn't work… then of course, New Zealand and India will be looking to reinvigorate the bilateral negotiation,” he said.

In November last year, India opted out of the RCEP after negotiating the pact with 15 other Asia Pacific countries for seven years due to lack of reciprocity on its key demands on services market access, safeguards for import surge and circumvention of origin rules because of tariff differentials.

India’s merchandise exports to New Zealand in the nine months to December 2019 were $287.8 billion while imports were $419.06 billion. India’s major exports to the country are pharmaceutical products and textile madeups while imports are wood and its articles, wood charcoal, mineral fuels and fruits.

“I met with your minister of commerce (Piyush Goyal) yesterday and we discussed those issues. Of course, New Zealand and India have been busy for some years negotiating through the rubric of RCEP and we will know by the end of the year as to whether India chooses to stay out or participate in RCEP,” he said at a FICCI event.

The Economic Times | Feb 27, 2020

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP. The Narendra Modi-led government in November decided not to join Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to satisfactorily address New Delhi's "outstanding issues and concerns".

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

"We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments," New Zealand's Minister for Trade and Export Growth said.

Business Standard | Feb 27, 2020

New Zealand to pursue trade relations with India 'through different means' if New Delhi does not join RCEP

New Zealand said on Thursday it would want to pursue its trading relationship with India "though different means" in case New Delhi does not join the Regional Comprehensive Economic Partnership (RCEP).

The Indian government had decided against joining the RCEP in November, last year, though the possibility of it signing the trade pact in the future remains open given that its key concerns are addressed.

"Yesterday, I met with Commerce Minister Piyush Goyal and discussed the issue (the RCEP). We know that India chose to stay out of RCEP, but if they continue to not participate in the pact (in the future), then we will obviously want to pursue our trading relationship through different means," New Zealand Minister for Trade and Export Growth David Parker told ANI on the sidelines of the India-New Zealand Business Forum', organized by FICCI

Parker also said that India and New Zealand need to further enhance their complementary socio-economic relations. "We see enormous potential for trade between the 2 countries. Given the size of our respective economies, our level of trade is quite low and we can do a lot for our mutual advantage."

In his address at the Business Forum, the minister had said that New Zealand has been engaging with various states in India to provide latest technology in agriculture, food storage and supply chain infrastructure to reduce food wastage. He added that New Zealand companies have started working with Indian businesses under the Make in India program.

Parker also emphasized on the need of adopting newer technologies to encourage innovations and bridge the gap between the two nations. "Trade policies play an important role. There is a lot that we can do together, and we are a progressive nation."

Highlighting the role of greater women entrepreneurs to the nation's GDP, Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade. "According to the IMF, greater female participation boosts growth by up to 35 per cent of the GDP," he said adding that there are equal opportunities for women in India which will also contribute significantly to India's GDP growth.

New Zealand's Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. "We have developed a new 'Trade for All' trade policy to ensure sustainable economic development and inclusive growth."

Sangita Reddy, President, FICCI said that India is not only a large market, but also a diverse one with an immense talent pool of all types.

"In this environment, the ability to use India as a sandbox of innovation and learning of creating, testing products and jointly taking these to the world. It is offering India and our global partners an opportunity to grow faster than they were growing earlier," Reddy said.

Financial Express | Feb 27, 2020

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

“But if they don’t participate in RCEP then we will obviously want to pursue a trading relationship through a different means,” New Zealand’s Minister for Trade and Export Growth David Parker said at a Ficci conference.

“We know it is an issue of sensitivity to the Indian government on behalf of the people. We know that there is a real issue for India. The only way that a deal is eventually done is if it is mutually beneficial. How might that be done in respect of dairy. Well it would be good if it were a fact based argument”.

India’s dairy industry - the largest in the world - had expressed apprehension that the RCEP trade pact would severely impact dairy farmers because of cheaper imports from Australia and New Zealand.

“We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments,” New Zealand’s Minister for Trade and Export Growth said.

The RCEP negotiations were launched by leaders from 10 ASEAN member states and six other countries — India, China, Japan, South Korea, Australia and New Zealand during the 21st ASEAN Summit in Phnom Penh in November 2012.

The Hindu Business Line | Feb 27, 2020

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP.

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

India’s dairy industry -- the largest in the world -- had expressed apprehension that the RCEP trade pact would severely impact dairy farmers because of cheaper imports from Australia and New Zealand.

The Times of India | Feb 27, 2020

New Zealand to pursue trade relations with India 'through different means' if New Delhi does not join RCEP

New Zealand's Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. "We have developed a new 'Trade for All' trade policy to ensure sustainable economic development and inclusive growth."

Sangita Reddy, President, FICCI said that India is not only a large market, but also a diverse one with an immense talent pool of all types.

Outlook | Feb 27, 2020

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP.

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

I met with your minister of commerce (Piyush Goyal) yesterday and we discussed those issues. Of course, New Zealand and India have been busy for some years negotiating through the rubric of RCEP and we will know by the end of the year as to whether India chooses to stay out or participate in RCEP.

"But if they don''t participate in RCEP then we will obviously want to pursue a trading relationship through a different means," New Zealand''s Minister for Trade and Export Growth David Parker said at a Ficci conference.

"We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments," New Zealand''s Minister for Trade and Export Growth said.

ANI | Feb 27, 2020

New Zealand to pursue trade relations with India 'through different means' if New Delhi does not join RCEP

Highlighting the role of greater women entrepreneurs to the nation's GDP, Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade.

"According to the IMF, greater female participation boosts growth by up to 35 per cent of the GDP," he said adding that there are equal opportunities for women in India which will also contribute significantly to India's GDP growth.

New Zealand's Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. "We have developed a new 'Trade for All' trade policy to ensure sustainable economic development and inclusive growth."

Sangita Reddy, President, FICCI said that India is not only a large market, but also a diverse one with an immense talent pool of all types.

AIR News Services Division | Feb 27, 2020

New Zealand congratulates India on the impressive strides made in Ease of Doing Business

New Zealand's Minister for Trade and Export Growth, David Parker today congratulated India on the impressive strides it has made in Ease of Doing Business.

Addressing the gathering at the ‘India-New Zealand Business Forum’ organized by FICCI in New Delhi, Mr Parker said India is a dynamic country and it is of increasing importance to New Zealand.

He said India is in the midst of a wonderful transformation and his country wants to be a part of it. He pointed out that India and New Zealand have complimentary economic strengths.

Orissadiary.com | Feb 27, 2020

Need to further strengthen India-New Zealand business ties: New Zealand Trade and Export Growth Minister

Mr David Parker, Minister for Trade and Export Growth, New Zealand today said that India and New Zealand need to further strengthen their socio-economic relations.

Speaking at ‘India-New Zealand Business Forum’, organized by FICCI, Mr Parker said, “We both need trade to help us address the most significant global issues to access the international market. We need to support the economic growth and development and avoid environmental damage impacting the people.”

Mr Parker added that New Zealand is engaging with various states in India to provide latest technology in agriculture, food storage and supply chain infrastructure to reduce food wastage. He said that New Zealand companies have started working with Indian businesses under the Make in India program.

He also emphasized on the need to adopt newer technologies to encourage innovations and bridge the gap between the two nations. “Trade policies play an important role. There is lot that we can do together,” said Mr Parker.

Highlighting the role of greater women entrepreneurs to nation’s GDP, Mr Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade. “According to IMF, greater female participation boosts growth by up to 35 percent of the GDP,” he said adding that there are equal opportunities for women in India which will also contribute significantly to India’s GDP growth.

New Zealand’s Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. “We have developed new ‘Trade for All’ trade policy to ensure sustainable economic development and inclusive growth.”

Dr Sangita Reddy, President, FICCI said that India is not only a large market, but we are also a diverse market with immense talent pool of all types. She further added that India as a sandbox of ‘Innovation and Learning’ is providing an opportunity to our global partners to grow faster than they were growing earlier.

Business Insider | Feb 27, 2020

New Zealand for bilateral trade pact with India if New Delhi does not join RCEP

New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP.

However, the possibility of India joining the trade pact is open provided its concerns are addressed by the member nations.

"We obviously seek a trade agreement that provides the framework for economic engagement that would facilitate more trade and investments," New Zealand's Minister for Trade and Export Growth said.

Daily Hunt | Feb 27, 2020

New Zealand to pursue trade relations with India 'through Different Means'

New Zealand said on Thursday stated its willingness to continue its trading relations with India 'though different means' if India does not join the Regional Comprehensive Economic Partnership (RCEP).

Earlier in November 2019, New Delhi had decided against joining the RCEP but, the decision may change if India's key concerns about signing the trade pact are addressed.

While interacting with a news agency on the sidelines of India-New Zealand Business Forum', organized by FICCI, New Zealand Minister for Trade and Export Growth David Parker said, "Yesterday, I met with Commerce Minister Piyush Goyal and discussed the issue (the RCEP). We know that India chose to stay out of RCEP, but if they continue to not participate in the pact (in the future), then we will want to pursue our trading relationship through different means."

Talking about enhancing complementary socio-economic relations, Parker said, "We see enormous potential for trade between the 2 countries. Given the size of our respective economies, our level of trade is quite low and we can do a lot for our mutual advantage."

New Zealand companies working under Make in India

While addressing the business gathering at the National Capital, the New Zealand Minister spoke briefly about how New Zealand is constantly engaging with multiple Indian states to provide them with the latest technology in agriculture, food storage, and supply chain infrastructure. Adding further, he even spoke about how New Zealand companies have started working with Indian businesses under the Make in India program.

The Minister also emphasized the need to adopt the latest technologies to encourage innovations, that will bridge the gap between the two nations.

"Trade policies play an important role. There is a lot that we can do together, and we are a progressive nation," he informed.

Encouragfing greater participation from women entrepreneurs to contibute towards the national GDP, Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade. "According to the IMF, greater female participation boosts growth by up to 35 percent of the GDP," he said adding that there are equal opportunities for women in India which will also contribute significantly to India's GDP growth.

What is the RCEP?

The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN) and its six FTA partners, launched in 2012. The member nations include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, and the FTA members include China, Japan, India, South Korea, Australia and New Zealand. The agreement aims at dropping tariffs and duties between the members to allow a free flow of goods and services.

Devdiscourse | Feb 27, 2020

Trade and Export Growth Minister invites Indian companies to invest in NZ

Mr. David Parker, Minister for Trade and Export Growth, New Zealand today said that India and New Zealand need to further strengthen their socio-economic relations.

Speaking at 'India-New Zealand Business Forum', organized by FICCI, Mr. Parker said, "We both need trade to help us address the most significant global issues to access the international market. We need to support the economic growth and development and avoid environmental damage impacting the people."

Mr. Parker added that New Zealand is engaging with various states in India to provide the latest technology in agriculture, food storage, and supply chain infrastructure to reduce food wastage. He said that New Zealand companies have started working with Indian businesses under the Make in India program.

He also emphasized on the need to adopt newer technologies to encourage innovations and bridge the gap between the two nations. "Trade policies play an important role. There is a lot that we can do together," said Mr. Parker.

Highlighting the role of greater women entrepreneurs to the nation's GDP, Mr. Parker said that New Zealand is working to increase the number of women entrepreneurs in the overall trade. "According to IMF, greater female participation boosts growth by up to 35 percent of the GDP," he said adding that there are equal opportunities for women in India which will also contribute significantly to India's GDP growth.

New Zealand's Trade and Export Growth Minister also invited Indian companies to invest in New Zealand in potential areas like aviation, tourism, IT, ICT, education. "We have developed a new 'Trade for All' trade policy to ensure sustainable economic development and inclusive growth."

Dr. Sangita Reddy, President, FICCI said that India is not only a large market, but we are also a diverse market with an immense talent pool of all types. She further added that India as a sandbox of 'Innovation and Learning' is providing an opportunity for our global partners to grow faster than they were growing earlier.

Odisha News Times | Feb 27, 2020

New Zealand congratulates India on the impressive strides made in Ease of Doing Business

New Zealand’s Minister for Trade and Export Growth, David Parker today congratulated India on the impressive strides it has made in Ease of Doing Business.

Addressing the gathering at the ‘India-New Zealand Business Forum’ organized by FICCI in New Delhi, Mr Parker said India is a dynamic country and it is of increasing importance to New Zealand.

He said India is in the midst of a wonderful transformation and his country wants to be a part of it. He pointed out that India and New Zealand have complimentary economic strengths.

Manila Bulletin | Dec 01, 2019

ASEAN-India forum tackles science, tech & innovation

The ASEAN-India Grassroots Innovation Forum and the ASEAN-India 2nd InnoTech Summit were hosted by the Department of Science and Technology – Philippines, in collaboration with the Department of Science and Technology – India, Federation of Indian Chamber of Commerce and Industry (FICCI), and the National Innovation Foundation (NIF) – India with support of the ASEAN-India Business Council at the SMX Convention Center, Davao City.

The three-day event saw the participation of 720 delegates from Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam together with the ASEAN dialogue partner, India.

The summit also tackled on building capacity between the regions, exploring various areas of collaboration, and promoting grassroots innovation to a wider community.

“I call on all sectors of our society to seek new opportunities to foster improved scientific, technological and innovative solutions and double down our efforts to synergize government-academe-industry partnership to bring significant changes in the region’s STI landscape,” said DOST Undersecretary for R&D Rowena Cristina Guevara at the opening ceremony. “We also need to build consensus on the role of STI as a driving force for sustainable development,” said Guevara.

The ASEAN-India 2nd InnoTech Summit held a series of sessions on various STI topics focusing on intellectual property, blue/maritime economy, AI in healthcare, water sanitation and hygiene, agri-tech startups and commercialization of technologies. Several business-to-government meetings were scheduled between AMS and Indian businessmen.

Parallel to this is the ASEAN-India Grassroots Innovation which featured student and social grassroots innovators competitions. Alongside an exhibition showcasing various inventions were 90 exhibit stalls displaying diverse ASEAN and Indian technologies and MSMEs.

“I am positive that the ideas that emerged from our discussions and dialogues will eventually come into fruition to help us leverage our standing and harness our potentials to become frontrunners in science, technology and innovation,” said by DOST Assistant Secretary Buendia at the closing ceremony. “We ought to see the recommendations from this forum realized, applied or improved upon in our own countries and create or support innovative policies that spell the difference for our citizens,” she added.

Business World | Nov 21, 2019

India, PHL to pilot-test high-yield garlic, onion farming in Mindanao

India and the Philippines are looking at other agriculture-related partnerships after recently agreeing to pursue several projects, including the establishment of pilot farms in Mindanao for high-yield varieties of garlic and onion.

“Your indigenous garlics, just like in India, are very pungent. Some agreements were signed on setting pilot farms in Mindanao regions that will really improve productivity of onions and garlic, and it will result to hundreds of millions of dollars,” Indian Ambassador to the Philippines jaideep Mazumdar said at a news conference Wednesday during the opening of the three-day ASE AN-India 2nd InnoTech Summit in Davao City.

Mr. Mazumdar said an agreement was also signed with Land Bank of the Philippines for a project that will use satellite technology to reduce financing risk in agriculture.

The InnoTech Summit is being held alongside the ASEAN-India Grassroots Innovation Forum, which highlights best practices in community-based innovation.

“There are so many things in common between India and the Philippines. I would like to capitalize on getting all the innovation, finding all the business common ground,” said Johnny Chotrani, Philippines country chair of the ASEAN-India Business Council.

Mr. Chotrani also said that the two countries can benefit from sharing their respective expertise and “have more collaboration, more communication that will lead to something.”

EO India | Nov 13, 2019

Homegrown UPI ready to go international with Singapore launch

With the Federation of Indian Chambers of Commerce and Industry (FICCI) signing an agreement, on Monday, with the Singapore Fintech Association (SFA), India’s ambitious project of taking its unified payments service (UPI) to a global level is going to become a reality soon.

The implementation of UPI in Singapore is expected to solve the payment crisis faced by Indians travelling abroad due to currency conversion and non-availability of credit or debit cards.

FICCI and SFA signed a Memorandum of Understanding (MoU) as part of the growing Singapore-India fintech ecosystems, at the fourth edition of Singapore Fintech Festival which is taking place in Singapore from November 11 to November 13.

According to Livemint, the partnership has also invited a soft launch for the acceptance of BHIM UPI QR code-based payments. This live transaction at a merchant terminal in Singapore is going to boost UPI’s plans of going global and will bring it in the league of international payments players like PayPal, Skrill and others.

For the Singapore UPI’s mission, India’s National Payments Corporation of India (NPCI) and Network for Electronic Transfers (NETS) of Singapore are currently jointly working on the project.

The media report added that the QR-based payments system will allow anyone with a BHIM app to make payments at Singapore’s NETS terminals.

Inc42 | Nov 12, 2019

Homegrown UPI all set to go international with Singapore launch

The implementation of UPI in Singapore is expected to solve the payment crisis faced by Indians travelling abroad due to currency conversion and non-availability of credit or debit cards.

For the Singapore UPI’s mission, India’s National Payments Corporation of India (NPCI) and Network for Electronic Transfers (NETS) of Singapore are currently jointly working on the project.

The media report added that the QR-based payments system will allow anyone with a BHIM app to make payments at Singapore’s NETS terminals.

The FICCI-SFA MoU partnership will also act as an agreement to share information about fintech and collaborate on mutually beneficial initiatives that will further the development of fintech in both countries.

Besides the FICCI-SFA partnership, the Trade Promotion Council of India (TPCI) is also expected to sign a pact with Monetary Authority of Singapore (MAS) for working towards access to Business Sans Borders (BSB), a meta-platform for connecting cross border trade platforms this week.

After establishing UPI in Singapore, the Indian government is also planning to roll out the payments service in UAE and other countries. However, NPCI’s plan to take UPI international might also face hindrances such as bringing merchants on-board and increasing its usage among the local population will pose challenges.

livemint | Nov 12, 2019

BHIM app to go global. Singapore launch this week

Industry body FICCI on Monday signed an agreement with Singapore Fintech Association (SFA) to boost cooperation for development of financial technology industry in India and the southeast Asian country. Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday signed a memorandum of understanding with SFA as part of the growing Singapore-India fintech eco-systems.

"This is one more instrument to connect the FinTech Eco-Systems of the two countries, as there is already a very strong cooperation. A lot of Singapore fintech companies have counterparts in India," said Indian High Commissioner to Singapore, Jawed Ashraf.

The Trade promotion Council of India (TPCI) will also be signing a pact with Monetary Authority of Singapore (MAS) for working towards access to Business sans Borders (BSB), a meta-platform for connecting cross border trade platforms this week.

The FICCI-SFA MoU is a partnership agreement to share information about fintech and collaborate on mutually beneficial initiatives that will further development of fintech industry in both the countries.

"In recent years, India has been a country that is spearheading many FinTech initiatives and advancements with a global impact.

"On the other hand, Singapore has also been a very good bedrock for FinTechs, with supportive frameworks in place for them to grow and establish themselves in the region," said SFA President Chia Hock Lai.

Singapore and India FinTechs would be able to leverage on such industry-level partnerships, he added.

FICCI will be able to contribute even more and take forward the significant engagement the two countries have in the FinTech sector through the MoU, FICCI Deputy Secretary General Jyoti Vij said.

"With the rapid rise of new age FinTechs in the Indian market and cutting edge work being done in Singapore, which is amongst the most developed markets for FinTechs globally, we hope to learn more from each other in the regulatory domain as well as facilitate new collaborations between Fintechs and Financial Institutions in the two markets," she said.

There is a vast market in India for digital governance, financial inclusion, digitalization of payments, Asraf said.

There is a vast world market Africa and Latin America waiting to be serviced, the fintech firms should take the expertise across, he told delegates after inaugurating India pavilion at the Fourth edition of Singapore Fintech Festival taking place from 11 to 13 November along with Singapore Week of Innovation and Technology.

Thirteen Indian companies are presenting their technologies at the festival, which is the world's largest financial technology platform. It is expected to attract over 50,000 participants from over 130 countries.

A soft launch is scheduled of the acceptance of BHIM-UPI QR based payments in Singapore with a live transaction at a merchant terminal at the festival on Wednesday.

This is the first time that BHIM app will go international. The project is being jointly developed by National Payments Corporation of India (NPCI) and Network for Electronic Transfers (NETS) of Singapore.

This is a QR based payment system that will allow anyone with a BHIM app to make payments at NETS terminals in Singapore, said the High Commission of India here.

Connected to India | Nov 11, 2019

India building a strong FinTech partnership with Singapore: HCI Ashraf

There are a lot of exciting possibilities in Singapore and Indian youth are looking at how they can build startup brands in the region, India’s High Commissioner to Singapore H.E. Jawed Ashraf said on Monday.

Speaking at the inauguration of the India Pavilion at the 4th Singapore FinTech Festival 2019, Mr Ashraf said that India has the potential to become a global leader in the FinTech space and there are a lot of areas where cooperation with Singapore would enhance both nations’ industries.

“Singapore and India have a lot of synergies, I think, in terms of intellectual property rights, financing, access to the market in the region and globally. This is a partnership we are building quite strongly,” he said.

The festival is scheduled from November 11-15 held in conjunction with the Singapore Week of Innovation and Technology (SWITCH). This year, over 50,000 participants from 130+ countries are attending the financial technology event to discuss the latest technologies, trends and opportunities in the field.

This year, the Indian delegation at India pavilion at the SFF Exhibition is composed of 12 and 15 fintech companies respectively sponsored by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Mumbai Fintech Hub, making it one of the biggest delegations from any country. The high commissioner also spoke about how advancements in the FinTech sector had led to a fundamental shift in priorities among the young workforce.

“This new generation of millennials in India are far more outward-looking. They are not easily cowed down by other countries or by hierarchies. They are far more eager and self-confident; most of them now want to do something rather than go out and take jobs,” he said.

Mr Ashraf also witnessed the signing of an MoU between FICCI and the Singapore Fintech Association (SFA) while co-inaugurating the SFA pavilion along with Patrick Tay, MP and Assistant Secretary-General, National Trades Union Congress (NTUC).

On Wednesday, the High Commissioner will soft launch the first international module of the BHIM-UPI QR based payments system in Singapore by carrying out a live transaction at a merchant terminal at SFF.

“We’ll run it for four days during the period of SFF 2019; dynamic settlement of payments needs to be worked out. We will start with those places which have Indian visitors,” said Mr Ashraf.

This system, jointly developed by National Payments Corporation of India (NPCI) and Network for Electronic Transfers (NETS) of Singapore, will allow anyone with a BHIM app to make payments at NETS terminals. The service is slated to go live by early 2020.

Finextra | Nov 11, 2019

Singapore Fintech Association and Indian Chamber of Commerce agree fintech pact

Singapore Fintech Association (SFA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) today inked a partnership agreement to share information about FinTech and collaborate on mutually beneficial initiatives that would further the development of the FinTech industry in both countries.

This agreement was signed at the opening ceremony of the first ever Singapore Pavilion at the Singapore FinTech Festival 2019, the largest FinTech event in the world. The signing of the Memorandum of Understanding (MOU) was witnessed by His Excellency Jawed Ashraf, High Commissioner of India to Singapore.

Commenting on the announcement, Mr Chia Hock Lai, President, SFA said, “In recent years, India has been a country that is spearheading many FinTech initiatives and advancements with a global impact. On the other hand, Singapore has also been a very good bedrock for FinTechs, with supportive frameworks in place for them to grow and establish themselves in the region.”

“As Singapore’s FinTech ecosystem continues to grow, we look forward to collaborating for the betterment of the FinTech industry in both countries. We are glad that both Singapore and India FinTechs would be able to leverage on such industry-level partnerships,” he added.

Ms Jyoti Vij, Deputy Secretary General, FICCI said, “We, at FICCI, are pleased to enter into an MoU with the Singapore Fintech Association. Through this MoU, we will be able to contribute even more and take forward the significant engagement the two countries have in the Fintech sector. With the rapid rise of new age Fintechs in the Indian market and cutting edge work being done in Singapore, which is amongst the most developed markets for Fintechs globally, we hope to learn more from each other in the regulatory domain as well as facilitate new collaborations between Fintechs and Financial Institutions in the two markets. FICCI looks forward to working closely with the Singapore Fintech Association in the times ahead.”

Greater engagement and collaboration between industry bodies in Singapore and India would be necessary for developing a broad-based FinTech relationship Southeast Asia’s FinTech ecosystem, as cited in a report by the National University of Singapore and the Institute of South Asian Studies in 2018.

Through this partnership, both parties aim to collaborate for the development of the FinTech industry between Singapore and India by seeking input and opinion from each other in matters relating to the FinTech industry.

Yahoo News | Nov 11, 2019

FICCI signs Fintech MoU with Singapore; BHIM-UPI QR to go global

Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday signed a memorandum of understanding with SFA as part of the growing Singapore-India fintech eco-systems.

'This is one more instrument to connect the FinTech Eco-Systems of the two countries, as there is already a very strong cooperation. A lot of Singapore fintech companies have counterparts in India,' said Indian High Commissioner to Singapore, Jawed Ashraf.

'In recent years, India has been a country that is spearheading many FinTech initiatives and advancements with a global impact.

'On the other hand, Singapore has also been a very good bedrock for FinTechs, with supportive frameworks in place for them to grow and establish themselves in the region,' said SFA President Chia Hock Lai.

Singapore and India FinTechs would be able to leverage on such industry-level partnerships, he added.

FICCI will be able to contribute even more and take forward the significant engagement the two countries have in the FinTech sector through the MoU, FICCI Deputy Secretary General Jyoti Vij said.

'With the rapid rise of new age FinTechs in the Indian market and cutting edge work being done in Singapore, which is amongst the most developed markets for FinTechs globally, we hope to learn more from each other in the regulatory domain as well as facilitate new collaborations between Fintechs and Financial Institutions in the two markets,' she said.

There is a vast market in India for digital governance, financial inclusion, digitalization of payments, Asraf said.

A soft launch is scheduled of the acceptance of BHIM-UPI QR based payments in Singapore with a live transaction at a merchant terminal at the festival on Wednesday.

This is a QR based payment system that will allow anyone with a BHIM app to make payments at NETS terminals in Singapore, said the High Commission of India here.

Business Standard | Nov 11, 2019

FICCI signs Fintech MoU with Singapore; BHIM-UPI QR to go global

Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday signed a memorandum of understanding with SFA as part of the growing Singapore-India fintech eco-systems.

"In recent years, India has been a country that is spearheading many FinTech initiatives and advancements with a global impact.

Singapore and India FinTechs would be able to leverage on such industry-level partnerships, he added.

FICCI will be able to contribute even more and take forward the significant engagement the two countries have in the FinTech sector through the MoU, FICCI Deputy Secretary General Jyoti Vij said.

There is a vast market in India for digital governance, financial inclusion, digitalization of payments, Asraf said.

A soft launch is scheduled of the acceptance of BHIM-UPI QR based payments in Singapore with a live transaction at a merchant terminal at the festival on Wednesday.

This is a QR based payment system that will allow anyone with a BHIM app to make payments at NETS terminals in Singapore, said the High Commission of India here.

Outlook | Nov 11, 2019

FICCI signs Fintech MoU with Singapore; BHIM-UPI QR to go global

Federation of Indian Chambers of Commerce and Industry (FICCI) on Monday signed a memorandum of understanding with SFA as part of the growing Singapore-India fintech eco-systems.

"In recent years, India has been a country that is spearheading many FinTech initiatives and advancements with a global impact.

Singapore and India FinTechs would be able to leverage on such industry-level partnerships, he added.

FICCI will be able to contribute even more and take forward the significant engagement the two countries have in the FinTech sector through the MoU, FICCI Deputy Secretary General Jyoti Vij said.

There is a vast market in India for digital governance, financial inclusion, digitalization of payments, Asraf said.

Thirteen Indian companies are presenting their technologies at the festival, which is the world''s largest financial technology platform. It is expected to attract over 50,000 participants from over 130 countries.

A soft launch is scheduled of the acceptance of BHIM-UPI QR based payments in Singapore with a live transaction at a merchant terminal at the festival on Wednesday.

This is a QR based payment system that will allow anyone with a BHIM app to make payments at NETS terminals in Singapore, said the High Commission of India here.

The Hindu | Oct 19, 2019

Several MoUs likely during ports’ conclave

Several key agreements are likely to be signed during the two-day conclave of the ports from the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) here from November 7.

The Visakhapatnam Port Trust (VPT) will be playing host to the conference. Top officials from the member-countries will attend.

The regional group has India, Bangladesh, Myanmar, Sri Lanka, Thailand and two land-locked countries of Bhutan and Nepal as members. The countries lying in the littoral and adjacent areas of the Bay of Bengal constitute a contiguous regional unity.

The sub-regional organisation was established on June 6, 1997, through the Bangkok Declaration. Nepal and Bhutan were inducted in 2004.

“This is a prestigious event to be hosted by us. Besides discussing best practices, we will discuss ways of exploring regional cooperation in various fields,” VPT Deputy Chairman P.L. Haranadh told The Hindu on Thursday.

Besides VPT, Paradip, Kolkata and Krishnapatnam ports are also expected to sign MoU with Ranong port of Thailand. More MoUs on coastal shipping and promotion of export-import cargo and usage of facilities for each others’ benefit will come up for discussion. Port Authority of Thailand has already come forward for collaboration through Laem Chabang. Mr. Haranadh said, in addition to senior officials of the port trusts and authorities, various Ministries, officials from Dhamra, Krishnapatnam, Mudra and other private ports had been invited for participation.

Kolkata and Visakhapatnam ports have already an understanding with Nepal after the Ministry of Nepal designated them as gateway ports. Bhutan also wants to explore tie-up with the Indian ports to get imported cargo.

Various stakeholders such as the CII, FICCI, FAPCCI and other professional organisations will also attend

The Free Press Journal | Sep 05, 2019

Jaishankar to lead high-level delegation to India-Singapore summit next week

External Affairs Minister S Jaishankar will lead a high-level delegation to a two-day India-Singapore summit here next week where India will project its strategic outlook and economic agenda to accelerate bilateral economic partnership.

The summit to be held on September 9-10 follows the BJP government's 100 days in office, Prime Minister Narendra Modi's articulation of his vision and roadmap for a 'New India'.

Announcing this Thursday, the Indian High Commission in Singapore said the summit will be a platform to project government's strategic outlook and economic agenda; provide opportunities for investors, companies and start-ups in and operating out of Singapore to interact with policy makers as India aims to be a USD 5 trillion economy by 2024.

The summit will also have corporate and tech leaders from India; enhance India's profile and presence in the Southeast Asia's regional hub; and, accelerate the momentum in India-Singapore economic partnership, said the High Commission.

Jaishankar will be joined by Singapore's Foreign Affairs Minster Vivian Balakrishnan.

The Ministerial Plenary on "India-Singapore: The Economic Agenda", will be addressed by Hardeep Singh Puri, Union Minister (Independent Charge), Ministry of Housing and Urban Affairs, Ministry of Civil Aviation and Ministry of Commerce and Industry.

Puri will be joined by Singapore's Senior Minister of State for Ministry of Trade and Industry and Ministry of Education, Chee Hong Tat.

State Delegations from Andhra Pradesh, Odisha, Punjab and Uttarakhand will also be at the summit interacting with investment communities.

Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), PHD Chamber of Commerce and Industry and Data Security Council of India (DSCI) are bringing delegations from India to the summit, said the High Commission.

Atal Innovation Mission (AIM), Biotechnology Industry Research Assistance Council (BIRAC), Department of Science and Technology, Agricultural and Processed Food Products Export Development Authority (APEDA), Invest India and Startup India are also participating in the mega summit.

From Singapore, Ministry of Trade and Industry, Enterprise Singapore (a Singapore Government agency to support Singapore businesses abroad) and Monetary Authority of Singapore are supporting the event. Participating organisations include Singapore Business Federation, Singapore Manufacturing Federation and other chambers.

Organised by the Indian High Commission in Singapore, the "India-Singapore: The Next Phase", will focus on core areas, including the financial sector, infra-structure, urban development, real estate, logistics, regional trade, water, agro-tech and food processing, and skills development.

Singapore is a key economic partner for India, the leading source of foreign investment, a major financial market for Indian companies, and a partner in areas of India's development priorities like urban development, skills and infrastructure, said the High Commission in a release.

Singapore, home to some 9,000 Indian owned companies, is also emerging as a major startup and innovation hub with growing links to India. Many global companies invest or manage their operations in India, through their regional headquarters in Singapore, said the High Commission.

The objective of the business summit is to set the agenda and momentum for the next five years.

InSpreneur 3.0 is the third edition of the India-Singapore Innovation and start-up platform launched by the High Commission of India in January 2018, the statement said.

InSpreneur has evolved into a vibrant forum for entrepreneurs and innovators from India and Singapore to interact with each other and connect with investors and market enablers to establish new partnerships of innovation and enterprise and power our partnership in the digital age. This edition will focus on fintech, SMEs digital platforms, connecting start-ups in India and ASEAN, cyber security, artificial intelligence, future of data, Industry 4.0, and health and bio biotech.

Around 90 speakers from government, business and technology sectors from India and Singapore will be speaking in 25 sessions.

An exhibition featuring over 80 start-ups, including 65 from India and 20 from Singapore will be displaying innovations. In addition, there will be about 10 incubators from India and Singapore. Indian start-ups were selected from over 150 who had registered interest for the summit, the statement said.

The High Commission said over 3,700 people have registered for the conference and the exhibition.

KNN | Aug 02, 2019

Karnataka invites Taiwanese firms to invest in state

Karnataka government has invited Taiwanese companies to invest in the State.

A state delegation led by Gunjan Krishna, Commissioner for Industrial Development and Director of Industries & Commerce, interacted with leading Taiwanese companies.

The official interacted with Taiwanese companies engaged in the electronics, electric vehicles, FMCG electronics, green energy industrial at the 18th India Taiwan Joint Business Council Meeting, organized jointly by the Federation of Indian Chambers of Commerce & Industry (FICCI) and Chinese International Economic Cooperation Association, in New Delhi recently.

Tien Chung – Kwang, Ambassador of Taiwan and Representative of Taiwan Economic and Cultural Centre in India, inaugurated the meeting.

Leading Taiwanese and Indian business leaders discussed methods to enhance the industrial and business ties between India and Taiwan during the meeting.

About 40 Taiwanese companies participated in the event. Some of the leading Taiwanese companies participated in the meeting were Wistron, Chroma Ate Inc, Sinpro and Yusun Holding Corporation.

The Commissioner said the government is working on development of specific cluster development for electric vehicles and defence equipment.

Several enabling interventions being created to drive investments in these sectors which includes enabling infrastructure (plug and play infrastructure, readymade sheds, Centre of Excellence for skill development), attractive incentive packages etc.

The Hindu Business Line | Jul 31, 2019

Karnataka invites Taiwanese firms to invest in State

The Karnataka government has invited Taiwanese companies to invest in the State.

A state delegation led by Gunjan Krishna, Commissioner for Industrial Development and Director of Industries & Commerce, interacted with leading Taiwanese companies.

The Karnataka delegation interacted with Taiwanese companies engaged in the electronics, electric vehicles, FMCG electronics, green energy industrial at the 18th IndiaTaiwan Joint Business Council Meeting, organised jointly by the Federation of Indian Chambers of Commerce & Industry (FICCI) and Chinese International Economic Cooperation Association, in New Delhi recently.

The meeting saw participation from leading Taiwanese and Indian business leaders who discussed methods to enhance the industrial and business ties between India and Taiwan. The Commissioner said the government is working on development of specific cluster development for electric vehicles and defence equipment. Several enabling interventions are being created to drive investments in these sectors – including enabling infrastructure (plug and play infrastructure, readymade sheds, Centre of Excellence for skill development), attractive incentive packages etc.

Tien Chung – Kwang, Ambassador of Taiwan and Representative of Taiwan Economic and Cultural Centre in India, inaugurated the meeting with a special address on the possible synergies that the two countries — India and Taiwan bring in to promote industrial development in both the countries.

About 40 Taiwanese companies participated in the event. Some of the leading Taiwanese companies participated in the meeting were Wistron, Chroma Ate Inc, Sinpro and Yusun Holding Corporation.

SME Times | Jul 31, 2019

India-Taiwan trade ties can be strengthened further: Tien

Chung-Kwang Tien, Representative, Taipei Economic and Cultural Centre in India (TECC) today said that the trade relationship with India has taken an upward trajectory touching $7.5 billion in 2018 and can be further strengthened.

Speaking at 18th Joint Meeting of India-Taiwan Business Cooperation Committee, organised by FICCI, jointly with Chinese International Economic Cooperation Association (CIECA), Tien applauded Prime Minister Narendra Modi for India's successful lunar mission Chandrayaan-2.

"It is a clear demonstration of your space technology. Now India will rank among the four countries who did soft-landing on the lunar surface. Prime Minister Modi said that the success of the launch of Chandrayaan-2 is attributed to two factors - one is faith, the second is fearlessness," he said.

Tien while calling for higher trade and investment relationship said, "The good thing about our trade is not only the number but it is important that it is very balanced and thus we have a healthy trade relationship,"

Steve Hsieh, Leader of the CIECA delegation and CEO, Taiwan Lottery said, "Electric vehicles and smart cities are some of the focus areas in India."

Manish Sharma, Co-Chair, FICCI Electronics and White Goods Manufacturing Committee said, "India brings ample opportunities for Taiwanese industries including consumer durable, consumer appliances, smart living spaces, supply chain and electric mobility. There are huge opportunities for Taiwanese companies as India embarks on creating economies of scale."

Business Standard | Jul 30, 2019

India-Taiwan Trade On Upward Trajectory, Hits $7.5 billion In 2018

India and Taiwan have healthy trade relationship and it can be strengthened further, stated Chung-Kwang Tien, Representative, Taipei Economic and Cultural Centre in India (TECC).

He said that trade relationship with India has taken an upward trajectory touching $7.5 billion in 2018. He made these comments while speaking at 18th Joint Meeting of India-Taiwan Business Cooperation Committee, organised by FICCI, jointly with Chinese International Economic Cooperation Association (CIECA).

Capital Market | Jul 30, 2019

India-Taiwan trade on upward trajectory, hits $7.5 billion in 2018

India and Taiwan have healthy trade relationship and it can be strengthened further, stated Chung-Kwang Tien, Representative, Taipei Economic and Cultural Centre in India (TECC). He said that trade relationship with India has taken an upward trajectory touching $7.5 billion in 2018. He made these comments while speaking at 18th Joint Meeting of India-Taiwan Business Cooperation Committee, organised by FICCI, jointly with Chinese International Economic Cooperation Association (CIECA).

Krishijagran.com | Jul 08, 2019

4th India Asean Expo & Summit 2019

Federation of Indian Chambers of Commerce & Industry (FICCI), with the support of Government of India is organizing the 4th India-ASEAN Expo and Summit under the overarching theme “Reviving the Millennial Partnership” from February 21-23, 2019 at Jawaharlal Nehru Stadium, Gate no.2 in New Delhi.

The event will be attended by the Ministers, senior government officials and business delegations from the 10 ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam). The event will also have participation of industry from the Dialogue partner countries of ASEAN.

It will be a great opportunity to showcase your products and services as well as highlight your capabilities in your Sector to the participating Leading Businesses from ASEAN Countries, Policymakers, Think Tanks and Media. This event would serve as a platform for exploring innovative approaches to promote Trade, Investment, Joint Ventures and Strategic Market Tie-ups.

The ASEAN region is becoming one of the preferred trade and investment regions for Indian businesses and FICCI as an apex Chamber of Commerce and Industry of India, gives special focus to this region. The combined strength of the single ASEAN market is more than US$ 2.6 trillion and India's US$ 2.7 trillion economy, creates an economic power house that has the potential to become one of the strongest in the world. The India-ASEAN Expo & Summit offers an opportunity to governments, stakeholders and industry to capitalize and enhance efforts of sustaining momentum of trade.

 The Focus Sectors include:

Agri & Food Processing
Agri Machinery & Equipment’s
Artificial Intelligence
Auto & Auto Components
Banking & Financial Technologies
Chemical & Petrochemicals
Construction & Infrastructure
Education & Skill
Gems & Jewellery
Handicrafts, Carpet Leather & accessories
Healthcare & Medical Device
Information & Communication Technology (ICT)
Logistics, Warehousing & Transportation
Manufacturing
Pharmaceuticals
Renewable Energy
Science & Technology
Innovation, Sports Goods
Textiles & Textile machinery

AIMS & OBJECTIVES

To bring Indian, ASEAN and Global MNCs together to work jointly for larger market and choosing India as a hub for regional & global value chain
Strengthen existing and explore new areas of collaboration between India and ASEAN
Promote Trade and Investments between India and ASEAN region
Promote People-to-People and Business-to-Business connects
To provide a platform that will bring together multiple stakeholders, Policy makers - Industry - Academia - Media - Thought Leaders
To promote connectivity and traditional linkages between India and ASEAN region

DELEGATION COMPOSITION

CEOs of leading organizations
Presidents of Industry Associations
Heads of Government Agencies
Government officials from Ministries involved in approving projects / cases / proposals
Insurance Company Officials
Travel Facilitators
Trade Journalists
Dealers / Importers
Agents / Facilitators
Media / Journalists

SALIENT FEATURES

It rotates between India & ASEAN countries on alternate year
Reverse Buyer-Seller Meetings and planned B2B sessions with hosted buyers from all 10 ASEAN countries
Signing of business agreements and MOUs
Pre-fixed B2B meetings
International Conference and Technical Seminars
Exclusive State Pavilions l Exclusive Pavilions from focused sectors
Opportunity for the State Government to showcase their industry pavilions in front of international buyers in India

HIGHLIGHTS

More than 200 Exhibitors from 11 countries
l25+ Speakers from various sectors
More than 100 hosted buyers from ASEAN
B2Bs and B2Gs l Ministerial presence from India & ASEAN

VISITORS AND INVITEES

Senior Government Officials
Global Investors
Young Entrepreneurs & Start Ups
Women Entrepreneurs
Investment Promotion agencies
Academia & Think tanks
International Organizations
Companies from India & ASEAN
ASEAN Buyers
Associations & Councils

PARTICIPATION CHARGES

INR 50,000/- for 9 sqm Built up booth with basic furniture *Government taxes as applicable. Krishi Jagran is  participating as Exhibitor at the 4th India-ASEAN Expo and Summit and will be part of the India- ASEAN growth story.

For participation, contact:

Abhilasha Bahadur, FICCI

Mobile +91-8527321326

Telephone +91-11-23487255

Email - abhilasha.bahadur@ficci.com

Exhibition: Malvika Kareer, FICCI +91-11-23487254 malvika.kareer@ficci.com

The Hans India | Jun 07, 2019

Singapore can be rescuer of India's stressed assets

Singapore, as an Asian economic hub, could potentially become a leading investor in India's stressed assets, especially in the financial sector, building on its strong investment-linked relationships, India's envoy here Jawed Ashraf said on Thursday.

Ashraf was addressing some 200 investors and business leaders at the conference on "India's Insolvency and Bankruptcy Code" (IBC) and long-term impact on India's stressed assets, which some estimates value it at $250 billion in the banking sector.

"A large part of Singapore's investment from Singapore's government linked funds and private equity funds in India has been in existing or mature assets, and we see a huge potential for investments in stressed assets, as many are viable companies that have had management issues that forced them into a situation that triggered process for resolution under the Insolvency and Bankruptcy Code," Ashraf said.

Highlighting the background, key provisions and the benefits of the IBC, the Indian High Commissioner said, "many of the assets would be available at attractive price and the process of resolution is very quick, averaging about 300 days per case". Ashraf believes that the Singapore eco-system will also be very supportive of opening an entirely new chapter and take the two countries' investment relations to a new level.

He assured that the IBC will continue to get improved, which will see the investment cycle picking up especially with the participation of the private sector. Sunil Sanghai, chairman of the National Committee on Capital Markets in the Federation of Indian Chambers of Commerce and Industry, said, "there is a proper and very structured regulatory framework which has been put in place which is not only helping assets to get restructured but also investors to take investment decision for participating in the stressed assets."

Business Standard | Jun 07, 2019

Right time for investing in Indian stressed assets: IBBI Chairperson

IBBI Chairperson says distressed assets in India is vast and will increase in days

The chairperson of Insolvency and Bankruptcy Board of India (IBBI) Dr M.S. Sahoo has stated that the market for distressed assets in India is vast and will increase in days to come and there cannot be a better time than the present one for making investments in these.

Speaking at the FICCI-IBBI-HCI Singapore Conference on IBC (Insolvency and Bankruptcy Code), Dr Sahoo said, "The stressed assets market will increase as the Indian economy, which is huge, is likely to grow more than 7% over the next two decades, with simultaneous increase in innovation, competition, credit market and credit growth."

He further added, "Given the future potential of the Indian economy, it is a great opportunity as far as investors are concerned and, therefore, those seriously thinking about investment in India, there cannot be a better time than the present one when distressed assets are available through the Code (IBC)."

On the issue of haircut, Dr Sahoo said that the criticism about haircut is unfounded as it still provides a bonus when compared to the liquidation value of the firm and that it has been seen to decline over time in every other jurisdiction.

Dr Sahoo highlighted that there has been significant improvement in the credit behaviour of the corporates as repayment of debt is no longer an option but an obligation. The fear of CIRP (insolvency resolution) permanently taking away the control and management of the firm from existing promoters deters them from committing a default.

The Conference was organized as part of the Roadshow on 'Insolvency and Bankruptcy Code of India - New Paradigm for Stressed Assets' in Singapore (6th -7th June 2019).

The Roadshow also includes meetings with focused groups of potential investors and professional firms. These meetings offer an opportunity to understand the details of the insolvency reforms and investment options and opportunities in stressed assets in India with the policy makers, regulators, leading law and consulting firms, and financial intermediaries.

Outlook | Jun 06, 2019

Singapore could become a leading investor in India's stressed assets: Indian envoy

Ashraf was addressing some 200 investors and business leaders at the conference on “India's Insolvency and Bankruptcy Code” (IBC) and long-term impact on India's stressed assets, which some estimates value it at USD 250 billion in the banking sector.

“A large part of Singapore's investment from Singapore's government linked funds and private equity funds in India has been in existing or mature assets, and we see a huge potential for investments in stressed assets, as many are viable companies that have had management issues that forced them into a situation that triggered process for resolution under the Insolvency and Bankruptcy Code,” Ashraf said.

Highlighting the background, key provisions and the benefits of the IBC, the Indian High Commissioner said, “many of the assets would be available at attractive price and the process of resolution is very quick, averaging about 300 days per case”.

Ashraf believes that the Singapore eco-system will also be very supportive of opening an entirely new chapter and take the two countries’ investment relations to a new level.

Ashraf assured that the IBC will continue to get improved, which will see the investment cycle picking up especially with the participation of the private sector.

Sunil Sanghai, chairman of the National Committee on Capital Markets in the Federation of Indian Chambers of Commerce and Industry, said, “there is a proper and very structured regulatory framework which has been put in place which is not only helping assets to get restructured but also investors to take investment decision for participating in the stressed assets.”

The framework through IBC allows investors, including foreign investors, to participate in the stressed assets, he pointed out.

There is also a proactive approach for the bankers and lenders to offer assets before they are declared stressed and heads for bankruptcy.

“If there are signs of stress well before bankruptcy, the bankers and lenders can start inviting investors and look at restructuring which give a new opportunity for investors,” Sanghai, who is also founder and CEO of NovaDhruva Capital Pvt Ltd, said.

He also highlighted that it is first time that various regulators, policy makers and banks are trying to find different solutions such as the Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (INVITs) which are listed on the capital market and are alternative sources for resources.

He underlined the collective will led by the government, banks and capital market to resolve the stressed asset, saying these efforts were convincing foreign investors to participate in India's stressed assets.

The two-day conference includes one-to-one investor meetings in Singapore on Thursday and Friday.

Business Standard | Jun 06, 2019

Singapore can become major investor in India's stressed assets, says envoy

Ashraf was addressing some 200 investors and business leaders at the conference on India's Insolvency and Bankruptcy Code (IBC) and long-term impact on India's stressed assets, which some estimates value it at USD 250 billion in the banking sector.

A large part of Singapore's investment from Singapore's government linked funds and private equity funds in India has been in existing or mature assets, and we see a huge potential for investments in stressed assets, as many are viable companies that have had management issues that forced them into a situation that triggered process for resolution under the Insolvency and Bankruptcy Code, Ashraf said.

Highlighting the background, key provisions and the benefits of the IBC, the Indian High Commissioner said, many of the assets would be available at attractive price and the process of resolution is very quick, averaging about 300 days per case.

Ashraf believes that the Singapore eco-system will also be very supportive of opening an entirely new chapter and take the two countries' investment relations to a new level.

Ashraf assured that the IBC will continue to get improved, which will see the investment cycle picking up especially with the participation of the private sector.

Sunil Sanghai, chairman of the National Committee on Capital Markets in the Federation of Indian Chambers of Commerce and Industry, said, there is a proper and very structured regulatory framework which has been put in place which is not only helping assets to get restructured but also investors to take investment decision for participating in the stressed assets.

The framework through IBC allows investors, including foreign investors, to participate in the stressed assets, he pointed out.

There is also a proactive approach for the bankers and lenders to offer assets before they are declared stressed and heads for bankruptcy.

If there are signs of stress well before bankruptcy, the bankers and lenders can start inviting investors and look at restructuring which give a new opportunity for investors, Sanghai, who is also founder and CEO of NovaDhruva Capital Pvt Ltd, said.

The two-day conference includes one-to-one investor meetings in Singapore on Thursday and Friday.

Moneycontrol | Jun 06, 2019

Creditors can expect 100% recoveries under IBC, says IBBI chairperson M S Sahoo

Creditors can expect 100 percent recoveries from their client companies going under the Insolvency and Bankruptcy Code (IBC) process for resolving cases of stressed assets and non-performing assets.

"This is because new NPA companies going through the IBC system are active businesses," M S Sahoo, chairperson of the Insolvency and Bankruptcy Board of India (IBBI) said on June 6.

"We are seeing active companies coming to the IBC system and we expect 100 percent recovery for the creditors," he said after delivering a keynote address at a conference on Insolvency and Bankruptcy Code: New Paradigm for Stressed Assets.

There are few cases of active businesses where creditors have recovered 100 percent due to them, said Sahoo.

He is also satisfied with the level of recoveries from NPA-laden companies made under the IBC system so far.

"The 43 percent recovery works out to 200 percent of the liquidation value means if these resolutions had not happened the companies would have been liquidated.

"If you look at in respect of amount due, it is a haircut, but from the perspective of liquidation value, it is a bonus for the creditors," said Sahoo.

The 43 percent recoveries are because a significant number of the companies processed under the IBC system were defunct or sick, some without any business for many years.

Till date, he estimates NPAs linked to banks at Rs 10 lakh crore, while data is not available on the same outside the banking sector.

The IBC has strengthened creditors' rights and the credit market will continue expanding, he pointed out.

Sahoo sees credit growth at 15 percent a year and expected more NPAs. But he accepted these as ongoing businesses with losses being part of failures within the environment.

PSUWatch | Jun 06, 2019

Right time for investing in stressed Indian assets: IBBI Chairperson

Dr MS Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI) said on Thursday that the market for distressed assets in India is vast and will increase in days to come and there cannot be a better time than the present one for making investments in these.

Speaking at the FICCI-IBBI-HCI Singapore Conference on IBC (Insolvency and Bankruptcy Code), Dr Sahoo said, “The stressed assets market will increase as the Indian economy, which is huge, is likely to grow more than 7 percent over the next two decades, with simultaneous increase in innovation, competition, credit market and credit growth.”

'There cannot be a better time than the present one'

He further added, “Given the future potential of the Indian economy, it is a great opportunity as far as investors are concerned and, therefore, those seriously thinking about investment in India, there cannot be a better time than the present one when distressed assets are available through the Code (IBC).”

'Criticism about haircut is unfounded'

Dr Sahoo highlighted that there has been a significant improvement in the credit behaviour of the corporates as repayment of debt is no longer an option but an obligation. The fear of CIRP (insolvency resolution) permanently taking away the control and management of the firm from existing promoters deters them from committing a default.

Business Standard | Mar 10, 2019

India, ASEAN clock fastest growth for e-commerce, digital trade sectors: FICCI-KPMG

India and 10-member ASEAN are among the fastest growing economies in the world with even faster growth rates for e-commerce and digital trade sectors, according to a new report by industry body FICCI and consulting major KPMG.

By 2021, global e-commerce sales are expected to reach 4.5 trillion dollars, up from 1.3 trillion dollars in 2014.

"While China dominates the global e-commerce sector, India and ASEAN are among the fastest growing markets. Both regions are making investments to develop an ecosystem that can sustain and promote increasing digital trade."

The e-commerce market in India is estimated to reach 165.5 billion dollars by 2025 while the ASEAN is estimated to reach a volume of 90 billion dollars, said the report titled 'India and ASEAN: Co-creating the Future.'

The Association of Southeast Asian Nations (ASEAN) comprises Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Cambodia, Myanmar, Brunei and Laos.

Within ASEAN, Indonesia's e-commerce market is likely to increase to 46 billion dollars by 2025 (from 1.7 billion dollars in 2015), Thailand to 11 billion dollars (0.9 billion dollars), Philippines to 9.7 billion dollars (0.5 billion dollars), Malaysia 8.2 billion dollars (1 billion dollars), Vietnam 7.5 billion dollars (0.4 billion dollars) and Singapore 5.4 billion dollars (1 billion dollars).

By 2025, China's e-commerce market will expand to a whopping 672 billion dollars.

The fast growth everywhere is led by rising internet penetration and smartphone use, a young population and an expanding middle class.

Significantly, cross-border e-commerce is expected to play a major role in supporting e-commerce expansion, with the sub-segment expected to reach 1 trillion dollars by 2020. This is driven by customers seeking lower prices and accessing unique or speciality products or brands not available in their home country.

However, the report cautions that the rapid adoption of e-commerce and digital platforms presents a new set of security challenges.

While governance of cyberspace and cybersecurity policies are still evolving, the time is ripe for India and ASEAN to elaborate on mechanisms for secure digital payments and other associated ecosystems, it said.

China Daily | Feb 26, 2019

India, ASEAN eye mega trade agreement

A successful conclusion of a trade deal between India and the nations of Southeast Asia would overcome the challenges of global trade amid increasing trade tensions and protectionism, Indian commerce minister Suresh Prabhu said Thursday.

He spoke at the inaugural session of the India-ASEAN (Association of Southeast Asian Nations) Expo and Summit 2019, held in New Delhi.

The Regional Comprehensive Economic Partnership, or RCEP, is an ambitious trade agreement being negotiated between the 10 ASEAN countries and their six free trade partners: Australia, China, India, Japan, New Zealand and South Korea. ASEAN members are Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam.

RCEP would create the world's largest free trade bloc comprising 3.5 billion people and constituting 30 percent of the world's GDP, 30 percent of global trade and 26 percent of global foreign direct investment flows.

"India is constructively engaged in RCEP negotiations and the country believes that ASEAN will remain central to the economic integration of the Indo-Pacific region through RCEP," Prabhu said.

The expo attracted more than 200 exhibitors from India and the 10 ASEAN countries, including established companies, young entrepreneurs and startups as well as business associations and councils.

Sandeep Somany, president of Indian ceramic company FICCI, said he strongly supports mega trade agreements, especially at a time of trade protectionism.

Akhil Bansal, deputy CEO of KPMG in India, agreed, saying harmonization, convergence and removal of barriers are the keys to trade growth and economic development.

ASEAN Secretary-General Lim Jock Hoi said amid the current trade tensions and political instability the importance of free trade is immense, especially when ASEAN already ranks among the world's top 10 investment destinations.

He advocated that the trilateral highway, which is under construction to connect India with Myanmar and Thailand by road, be extended to Cambodia, Laos and Vietnam as well.

'Special thrusts'

Lee Chuan Teck, second permanent secretary of Singapore's Ministry of Trade and Industry, told attendees at the summit that barrier-free trade is the way forward. Special thrusts need to be given on connectivity－land, sea and air, he said.

"This will really deepen people-to-people and business-to-business connect, resulting in a win-win situation for businesses as well as travelers," he said, adding that special efforts must also be made toward strengthening transport infrastructure in the region, for that will lower costs of logistics which will in turn make companies a lot competitive.

For ASEAN representatives, the focus next shifts to Siem Reap, Cambodia, where the ASEAN trade ministers will gather for the 7th RCEP Inter-Sessional Ministerial Meeting on March 2-3.

India's Junior Minister for Commerce Chhotu Ram Chaudhary said India has relaxed several laws and regulations under its Make in India initiative to attract investments.

He said India was using the India-ASEAN Expo & Summit 2019 to "invite the visiting ministers and business leaders to be part of the country's growth narrative".

Two-way trade volume between the India and ASEAN climbed to $73.6 billion in 2017 and plans for growth by 2022 would more than double the amount as they are among the fastest growing economies of the world.

Investments opportunities in areas such as medical devices, pharmaceuticals, aviation, fisheries, infrastructure, food processing and ship-building are enormous, Chaudhary said.

Khmer Times | Feb 26, 2019

India seeks broader trade with Cambodia

The president of the Federation of Indian Chambers of Commerce and Industry (FICCI) said India is considering expanding its investments in the Kingdom, particularly in science and technology, tourism infrastructure and manufacturing.

During a meeting on the sidelines of the 4th India-Asean Expo and Summit held in New Delhi last week, FICCI president Sandip Somany told Cambodia’s Minister of Commerce Pan Sorasak that India seeks to broaden trade with the Kingdom, according to a statement from the Cambodian Ministry of Commerce.

“With a vision to build a good relation in terms of trade and investment with all Asean member states, India wants to increase trade and investment in Cambodia as it is still very low compared to many other countries in the region,” said Mr Somany.

Minister Sorasak said that a number of industries and sectors in the Kingdom present lucrative opportunities for Indian businesses.

“We encourage all Indian investors and businessmen to come to Cambodia and explore business and investment opportunities because we have a lot of areas with untapped potential,” the minister said.

“The Cambodian government treats investors fairly and our open investment policy is very attractive.

“There is great potential in agriculture and manufacturing. Indian investors are encouraged to invest in factories to export back to India and to supply other markets,” he added.

Mr Sorasak also asked India to establish a direct flight between the countries to improve connectivity.

According to data from the Council for the Development of Cambodia (CDC), India invested $132.5 million in the Kingdom between 1994 and 2017.

Bilateral trade reached 111.8 million in 2016, according to the Ministry of Commerce.

Business Standard | Feb 25, 2019

How India and Vietnam can increase bilateral trade

Vietnam is India's fourth largest trading partner in Association of South East Asian Nations (ASEAN)- the first three being Singapore, Indonesia and Malaysia. The India-Vietnam trade has been consistently growing- clocking double-digit rates. It has grown almost 80 per cent over the last five years.

India is among Vietnam's top ten trading partners.

Data from the Indian Department of Commerce shows that trade between India and Vietnam grew 11.5 per cent to USD 14.2 billion in 2018 compared with a year ago. The two countries targeted bilateral trade to hit USD 20 billion by 2020 in 2015. This now seems a little bit of a stretch considering the compounded annual rate of growth since 2013 was 12 per cent and for this to happen, it will have to grow at around 19 per cent per year in the next two years.

It should not be a surprise that Vietnam and India currently enjoy strong diplomatic and trade relations. The strong ties date as far back as to the cold war days of the 1950s. India not only supported Vietnam's independence from France, it also objected to the US involvement in Vietnam in the 1960s and was one of the first countries to recognise a united Vietnam in 1975 after the war with the US.

Today, India sees Vietnam as a pivotal state in its "Act East" policy, the same way that China sees Pakistan as a strategic counter-balance to India. Vietnam and India share the same apprehension of China's growing power and influence in the region. To this effect, India is leveraging Vietnam and other ASEAN states to protect its interest in the resource-rich South China Sea which China has been aggressively growing its assertiveness. This is reflected in its build-up of weapons systems on the artificial islands it has constructed in the area.

It is with this background of common security interests that bilateral trade between the two states have strengthened in recent years.

The partners established extensive economic ties since 1992, starting with cooperation in oil exploration, agriculture and manufacturing. Trade took a giant leap forward after both nations liberalised their economies and Vietnam following up by backing India for a more prominent role in ASEAN.

Today, Vietnam's main exports to India include electronics and electrical products, textiles, handicrafts, cashew nuts, coffee, tea, mate, spices, canned food, building material, pharmaceutical products, precious metals, copper and rubber.

In return, India top exports to Vietnam are agriculture and farm products, meats and seafood, cotton and pharmaceutical products.

In terms of investments in each other countries, India is the 26th ranked investor in Vietnam with almost 210 projects worth around USD 880 million. These projects are in telecommunications, information technology, energy, mining, pharmaceuticals and electrical appliances. Vietnam's direct investments in India is negligible.

That there is interest in improving trade between the countries at a faster clip is not in doubt.

Vietnam had a strong presence in last week's ASEAN-India expo in New Delhi. The event is co-organised by the Indian Ministry of Commerce and Industry, the Federation of Indian Chambers of Commerce and Industry, and the ASEAN-India Business Council. More than 20 Vietnamese firms representing industries as diverse as farm produce, transportation services, tourism to handicrafts were present.

How can India and Vietnam work towards meeting the 2020 target?

Tourism could very well be the "low hanging fruit". There is a mutual visa-on-arrival programmes already in place for each other's citizens. Increasing the number of flights as well as joint promotion of each other's destinations would go a long way towards enticing the growing middle class in both countries to visit.

Secondly, both countries have significant pharmaceutical industries and cooperation in this field would improve efficiencies and enhance the industry's growth in both countries.

In the longer term, Vietnam can increase its investments in India by taking advantage of the Indian government's loosening up of foreign direct investment (FDI) quota for foods and beverage sector as well as the 100 per cent allowance of FDI in the in e-commerce and foods manufacturing industries.

Increasing trade between India and Vietnam is not without challenges. There is a significant cultural, custom and language gap between people from both countries. Furthermore, the two countries are geographically far apart with flight time between most major cities around seven hours. This not only affects tourism but also impacts the import and export of goods and business exchanges.

Krishijagran.com | Feb 23, 2019

4th India ASEAN Expo & Summit 2019

 The Focus Sectors include:

Agri & Food Processing
Agri Machinery & Equipment’s
Artificial Intelligence
Auto & Auto Components
Banking & Financial Technologies
Chemical & Petrochemicals
Construction & Infrastructure
Education & Skill
Gems & Jewellery
Handicrafts, Carpet Leather & accessories
Healthcare & Medical Device
Information & Communication Technology (ICT)
Logistics, Warehousing & Transportation
Manufacturing
Pharmaceuticals
Renewable Energy
Science & Technology
Innovation, Sports Goods
Textiles & Textile machinery

AIMS & OBJECTIVES

To bring Indian, ASEAN and Global MNCs together to work jointly for larger market and choosing India as a hub for regional & global value chain
Strengthen existing and explore new areas of collaboration between India and ASEAN
Promote Trade and Investments between India and ASEAN region
Promote People-to-People and Business-to-Business connects
To provide a platform that will bring together multiple stakeholders, Policy makers - Industry - Academia - Media - Thought Leaders
To promote connectivity and traditional linkages between India and ASEAN region

DELEGATION COMPOSITION

CEOs of leading organizations
Presidents of Industry Associations
Heads of Government Agencies
Government officials from Ministries involved in approving projects / cases / proposals
Insurance Company Officials
Travel Facilitators
Trade Journalists
Dealers / Importers
Agents / Facilitators
Media / Journalists

SALIENT FEATURES

It rotates between India & ASEAN countries on alternate year
Reverse Buyer-Seller Meetings and planned B2B sessions with hosted buyers from all 10 ASEAN countries
Signing of business agreements and MOUs
Pre-fixed B2B meetings
International Conference and Technical Seminars
Exclusive State Pavilions l Exclusive Pavilions from focused sectors
Opportunity for the State Government to showcase their industry pavilions in front of international buyers in India

HIGHLIGHTS

More than 200 Exhibitors from 11 countries
l25+ Speakers from various sectors
More than 100 hosted buyers from ASEAN
B2Bs and B2Gs l Ministerial presence from India & ASEAN

VISITORS AND INVITEES

Senior Government Officials
Global Investors
Young Entrepreneurs & Start Ups
Women Entrepreneurs
Investment Promotion agencies
Academia & Think tanks
International Organizations
Companies from India & ASEAN
ASEAN Buyers
Associations & Councils

PARTICIPATION CHARGES

For participation, contact:

Abhilasha Bahadur, FICCI

Mobile +91-8527321326

Telephone +91-11-23487255

Email - abhilasha.bahadur@ficci.com

Exhibition: Malvika Kareer, FICCI +91-11-23487254 malvika.kareer@ficci.com

Saigon News | Feb 22, 2019

Vietnam participates in ASEAN-India expo

More than 20 Vietnamese businesses also participated in the event to seek cooperation opportunities with Indian partners in the context of trade turnover between the two countries in 2018 expanding 40 percent against the previous year to US$ 11.8 billion.

In his remarks, Vietnamese Ambassador Pham Sanh Chau said the event demonstrates India’s “Act East” policy with ASEAN playing the key role.

The comprehensive integration between ASEAN and India has been reflected through not only the increasing flows of commodities, services and capital but also the people-to-people exchanges, infrastructure connectivity, cultural and educational exchanges, and other spiritual values, he said.

The two sides have expanded their collaboration in maritime safety as well as navigation and aviation freedom in line with international law, the ambassador noted.

The event is coorganised by the Indian Ministry of Commerce and Industry, the Federation of Indian Chambers of Commerce and Industry, and the ASEAN-India Business Council.

It saw the attendance of representatives of the ASEAN Secretariat, officials in charge of economy, trade, investment and tourism of ASEAN and India, economists and over 100 CEOs of ASEAN and international businesses.

On display at the expo are products and services of more than 200 enterprises from ASEAN and India, focusing on agriculture and agricultural product processing, pharmaceutical products, IT, AI, auto industry, finance-banking, jewelry, handicrafts, medical equipment, household utensils and furniture.

The even is expected to contribute to promoting the ASEAN-India strategic partnership, particularly in economy, trade, investment and tourism, while offering a chance for economic and commercial associations and organisations, experts and businesses from both sides to exchange experience and seek cooperation opportunities.

Within the framework of the expo, there will be seminars on agriculture, trade and investment.

India is among the top 10 leading trade partners of ASEAn in the 2017-2018 fiscal year, with two-way trade reaching US$ 81.33 billion.

Statistics released by ASEAN show that Indian tourists to the group hit 3.3 million in 2017, making up 16.2 percent of Indian holidaymakers worldwide.

The Association of Southeast Asian Nations (ASEAN) brings together 10 countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.-

Business Standard | Feb 22, 2019

India and ASEAN to play significant role in new emerging world Economic Order

Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, inaugurated the 4th India-ASEAN Expo and Summit 2019 in New Delhi yesterday. Addressing the inaugural session, Suresh Prabhu reaffirmed India's commitment to the path of mutual progress and prosperity and said that terrorism knows no boundaries; it needs to be addressed through collective reaffirment towards promoting regional peace, stability and development. In this fight against terrorism and mindless violence, events like India ASEAN Expo and Summit acquire a unique significance, as it epitomizes our faith and commitment towards a path of shared prosperity, progress and peace.

The Commerce Minister recalled the participation of ASEAN ministers during the ASEAN-India Business and Investment Meet and Expo 2018 organized on the side-lines of the ASEAN-India Commemorative Summit in New Delhi in January, 2018 and said that it provided us the much needed opportunity to engage on promotion of trade and investment collaborations. He also recalled the informal Mini Ministerial of WTO hosted by India in 2018 which was attended by 52 countries, including many ASEAN partners. Suresh Prabhu said that the core idea behind organizing this 4th India -ASEAN Expo and Summit is to build upon the success of the previous events and carry forward the momentum of the relationship built up over the years. He said that this Summit is a testimony of India's dedicated efforts towards Act East policy.

India and ASEAN represent fast moving economies. The global headwinds have caused a softening of the global growth from 3.1% in 2018 to 3.0 % in 2019. According to the recently published United Nations' World Economic Situation and Prospects Report 2019, India and ASEAN are set to outpace the global growth. India continues to be the fastest growing major economy and is expected to grow at 7.2% in 2019 and ASEAN at 5.2%, with many economies within ASEAN with a growth of more than 6%. Cambodia, Laos, Myanmar and Vietnam (CLMV) countries in ASEAN are also on a higher growth trajectory. This is indeed a manifestation of the new emerging world economic order, wherein India and ASEAN have a significant place.

The Commerce Minister said trade is a buckle that binds India and ASEAN together and India's vision of trade is not limited to exchange of goods and services. He asserted that India believes in trade that brings about mutual collaboration, promotes livelihood opportunities, brings in shared prosperity and binds us to a common future and a common destiny.

The Hindu Business Line | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: Chaudhary

To enhance economic cooperation between the two regions, companies from India and Association of South-East Asian Nations (ASEAN) can also form joint ventures and set up entities to start manufacturing here, he said, adding that increasing trade and investment is critical for both regions as each side hold huge potential

India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019.

“I would like to request the ASEAN companies to enhance increasing cooperation in MSME sector. We can increase investments in various sectors like airlines, fishing and ship building. We need medical devices and apparatus, and ASEAN companies can get an opportunity in this area,” he said.

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced.

Although the bilateral trade between the regions have increased to $82.33 billion in 2017-18 from $21 billion in 2005-06, “the pace of growth is not up to the mark,” he added.

The Times of India | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: Chaudhary

There are huge opportunities for south east Asian companies to increase investments in India in areas such as medical devices, fishing and ship-building, Minister of State for Commerce and Industry C R Chaudhary said Friday. To enhance economic cooperation between the two regions, companies from India and Association of south east Asian nations (ASEAN) can also form joint ventures and set up entities to start manufacturing here, he said, adding that increasing trade and investment is critical for both regions as each side hold huge potential

India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019.

"I would like to request the ASEAN companies to enhance increasing cooperation in MSME sector. We can increase investments in various sectors like airlines, fishing and ship building. We need medical devices and apparatus, and ASEAN companies can get an opportunity in this area," he said.

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced.

Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

The Asian Age | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: Chaudhary

To enhance economic cooperation between the two regions, companies from India and Association of south east Asian nations (ASEAN) can also form joint ventures and set up entities to start manufacturing here, he said, adding that increasing trade and investment is critical for both regions as each side hold huge potential India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019.

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced.

Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

Moneycontrol | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: C R Chaudhary

India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019.

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced.

Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

The New Indian Express | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: MoS Commerce and Industry

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced. Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

News Services Division | Feb 22, 2019

C R Chaudhary stresses to identify fields where India and ASEAN can increase trade

Union Minister of State for Commerce and Industry C R Chaudhary has said that the trade is increasing between India and ASEAN and now there is a need to focus on enhancing the pace of growth of the trade. Addressing 4th India-ASEAN Expo and Summit in New Delhi today, Mr Chaudhary stressed the need to identify the fields where India and ASEAN can increase trade based on the production in a particular country. He said, ASEAN has emerged as the second largest trade partner of India in 2017-18 with a share of 10.57 per cent in India's overall trade. Mr Chaudhary said, India-ASEAN trade has grown more than threefold from 2005-06 to 2017-18. The Minister said, lower cost of logistics, close proximity and cultural and commercial connectivity have helped India and ASEAN nations to share strong trade ties over the years. He added that, to further expand India- ASEAN economic partnership, Regional Value Chains need to be created on an urgent basis. Mr Chaudhary said, India-ASEAN can work together in Agriculture, processed food, leather, textiles, pharma, automobiles and other sectors. He said, India-ASEAN also need to work towards building an agreement to promote cooperation between MSMEs of the two countries.

Zee Business | Feb 22, 2019

Huge investment opportunities for ASEAN companies in India: CR Chaudhary

India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019. "I would like to request the ASEAN companies to enhance increasing cooperation in MSME sector. We can increase investments in various sectors like airlines, fishing and ship building.

We need medical devices and apparatus, and ASEAN companies can get an opportunity in this area," he said. Further, the minister said that both sides need to think and discuss areas where trade can be enhanced.

Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

Business Standard | Feb 21, 2019

We should all work towards early conclusion of RCEP talks: Prabhu

India Thursday called upon all the members of RCEP, a proposed mega trade deal, to work towards early conclusion of the agreement to boost economic ties.

The Regional Comprehensive Economic Partnership (RCEP) is a mega trade agreement being negotiated by 10 ASEAN members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six free trade pact partners - India, China, Japan, South Korea, Australia and New Zealand.

Commerce and Industry Minister Suresh Prabhu said a successful conclusion of RCEP will help deal with the challenges of global trade in terms of increasing trade tensions and protectionism.

"India is constructively engaged in RCEP negotiations and the country believes that ASEAN will remain central to the economic integration of the Indo-Pacific region through RCEP," he said.

"As negotiations are intensifying, members are now engaged in bilateral pairing to achieve mutually satisfactory and balanced outcome keeping in view each other's sensitivities and aspirations," the minister said.

The minister was speaking at the inauguration of the fourth India-ASEAN Export and Summit 2019 here.

He said that as directed by the leaders of the 16 countries, "we should all work towards early conclusion of RCEP and create a win-win situation for better prosperity of the people of the region".

Negotiations for the mega-trade deal RCEP need more rounds of talks to sort out issues pertaining to goods and services, Prabhu had said Tuesday.

The agreement aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.

The talks are stretched as the member countries have yet to agree on major issues including finalising the number of goods on which duties would be eliminated.

Speaking at the event, Indonesian Trade Minister Enggartiasto Lukita said all the members need to work together to conclude the negotiations this year.

Sharing similar views, Cambodian Commerce Minister Pan Sorasak also said the agreement is important and "I hope to see this concluding this year".

Further, Prabhu urged the ASEAN members to engage in the review of free trade agreement with India to resolve implementation issues being faced by business of either side.

The bilateral trade between India and ASEAN increased from USD 65 billion in 2015-16 to USD 81.33 billion in 2017-18.

live mint | Feb 21, 2019

We should all work towards early conclusion of RCEP talks: Suresh Prabhu