Lebanon
(Source : Embassy of India Beirut)
Mission participated in the “Art of Living/2017’ Exhibition”, a major annual event in Beirut, organized by S.P.M. Fair at Forum de Beyrouth , Quarantina which was inaugurated by the Minister of State for Planning Affairs, HE Mr. Michel Pharaon on November 29, 2017.The Exhibition remained open till 3 December 2017. Mission exhibited by putting up a stall showcasing the investment potential, ease of doing business and tourism potential in India. In its pavilion, Mission displayed publicity and promotional posters and pamphlets on various topics for the benefit of the visitors. Besides, Mission also installed a large TV showing ‘Making in India’ videos on various sectors including pharmaceuticals, textiles, bio-technology, automobiles, IT and renewable energy. Mission also distributed the World Bank report on Ease of Doing Business in India on CDs. Following Mission’s initiative to publicize the event for the benefit of India based buyers/traders, the Export Promotion Council of Handicrafts (EPCH) participated in this 5-day event to promote and publicize major forthcoming trade exhibitions in India and also to facilitate buyer-seller meetings from both countries.
Trinidad & Tobago
(Source : High Commission of India, Port of Spain (T&T)
Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc:
India and Trinidad & Tobago have signed a number of agreements viz. (i) Trade Agreement signed in January 1997 for Most Favoured Nations (MFN) status to each other, (ii) the Double Taxation Avoidance Agreement (DTAA) signed in February 1999 and the (iii) Bilateral Investment Promotion & Protection Agreement (BIPPA) signed in March 2007 for promotion of bilateral trade between the two countries.
Market access:
Based on its geographical proximity to mainland South America and the Caribbean (and US) and supported by regional and bilateral preferential trade agreements, T&T provides good opportunities to exporters from India to access the Caribbean region and beyond. Power supply is abundant at reasonable cost. Opportunities abound in the field of energy, SMEs, ICT, Pharmaceuticals & Medical equipment and consumables, Health, Wellness Tourism, and Ayurveda.
Active participation of Indian Export Organizations viz. CII, FICCI, Assochem, EEPC, FIEO, Pharmexcil etc. will be helpful to create economic awareness within the T&T business community. The Mission actively engages with the T&T Chamber of Commerce and regional Chambers of Commerce. This association can be put to best use when our Chambers visit T&T. CII had earlier sought to explore business opportunity.
Thailand
(Source : Embassy of India, Bangkok)
25 years of ASEAN India friendship
Khao Sod 27.01. 2018
Foreign Ministry spokeswoman Bussadee Santipitak stated that at the ASEAN-India Summit on the occasion of the 25th anniversary of ASEAN-India relations, the Delhi Declaration draft will be reviewed and approved to show the intent of ASEAN-India on various aspects. The Diplomat website states that the summit includes 30 negotiation mechanisms - and meetings of leaders and ministries from seven ministries: Foreign Affair, Commerce, Tourism, Agriculture, Environment, Alternative Energy and Telecommunications. India has initiated the India–Myanmar–Thailand Trilateral Highway, which is expected to be completed by 2020. Even though India did not participate in China’s Belt and Road Initiative (BRI), ASEAN nations should maintain broader connections, in particular with India. A number of ASEAN investors are interested in investing in India’s infrastructure projects. The value of ASEAN-India trade from 2016-2017 stood at $71 billion which was lower than its expected potential.
Cooperation of India and ASEAN
Krungthep Turakij 27.01.2018
India’s Ministry of External Affairs announced that Prime Minister Narendra Modi and the leaders of 10 ASEAN nations have agreed on further cooperation of their maritime security at the ASEAN-India Summit on the occasion of the 25th anniversary of ASEAN-India relations. Modi has initiated the idea of establishing an India-ASEAN Women’s Navy with a mission to sail around the world together. He also announced that India would enhance collaboration in trade and investment with ASEAN following the Act East policy. The trade value between India and ASEAN is relatively low when compared to ASEAN and China, and India aims to increase the amount.
In the pursuit of growth, India and Asean should be natural partners
The Nation 30.01.2018
Trade and consumption will spearhead both India’s and South-east Asia’s economic fortunes over the medium term. By seeking to tap and complement each other’s vast and growing markets, these two nascent economic powerhouses can further bolster their growth potential. India’s and Asean’s economies, if combined, would comprise the third-largest economy in the world, spanning 18 per cent of the planet’s population. Crucially, affluence, while still low compared to the United States or Europe, is rising. About 550 million Indians will be defined as middle class by 2025, double the number they are today – and adding more to the global pool than any other country. Similarly, in the ten-member Association of Southeast Asian Nations (ASEAN) region, the number of middle class households is forecast to top 120 million by 2025, roughly double what it was in 2010. Greater mutual market access would allow both economies to get greater traction. In fact, some links are already in place, and improving. For example, India’s North-eastern states are connecting with Asean through the Thailand/Myanmar trilateral highway and deep-sea ports. At present Asean is India’s fourth-largest trading partner, accounting for 10 per cent of India’s total trade, while India is Asean’s seventh-largest trading partner.
New India
Thansettakit 01.02.2018
India’s Prime Minister Narendra Modi made a statement and announced the `New India` policy at the beginning of January. He mentioned Indian reform plans in various aspects to prepare the country for the 75th anniversary of India’s independence in 2022. India’s policy focuses on every party to be included in the development plans and he wants all people to gain benefits from the development. The `New India` must be free from corruption, terrorism and black money. India plans to implement its ‘1Bx1Bx1B’ plan also as known as the ‘1B Trinity’ policy to ensure that 1 billion of its population have access to the banking system (first 1B), to push forward its 1 billion people on the digital biometric identity scheme (second 1B) and to encourage 1 billion people to own smartphones (third 1B). India is on track to becoming the world’s third largest economy in 2025 as many parties have predicted.
India, Asean set ambitious trade goals
The Nation 01.02.2018
INDIA-ASEAN trade relations have been growing steadily, with Asean being India’s fourth-largest trading partner. Both sides have set a target of at least US$200 billion in twoway trade by 2022 compared to US$ 71 billion in 2016-17. The trade relations between India and Asean have seen an upsurge since the last decade. India and Asean are in the process of negotiating agreements on trade and services and to improve cooperation. Both sides are working towards decreasing import duties on their products to increase trade.
India signed a free-trade agreement in goods in 2009 which was implemented in 2010 and FTA in services and investments in 2014 with Asean. And in 2015, India established a separate Mission to Asean and the EAS in Jakarta with a dedicated abassador to strengthen engagement with Asean and Asean centric processes. Investment flows are also substantial both ways. In the years 201617, India’s share of total exports and imports was around 11.2 per cent and 10.56 per cent, respectively. India also has a Comprehensive Economic Cooperation Agreement with various countries of the Asean region which has resulted in rise in investments; around 10 per cent of the total FDI equity inflows to India come from the Asean region. Indonesia has emerged as the largest trading partner of India in the Asean region. India imports mainly coal, palm oil, copper ores and a few other products from Indonesia. Indonesia on the other hand imports machineries, accessories of motor vehicles, telecommunication equipment’s, animal feed, corn and wheat. Singapore and Vietnam are the main markets for India which recorded exports trade worth US$9.564 billion and $6,786 billion respectively in the year 2016- 2017. Exports from Malaysia were worth $5,244 billion and imports at $8.933 billion in the year 2016-17. India’s export basket to Malaysia is diverse with meat, sugar, rice, wheat , vegetables, fruits, cotton yarn and electronic goods. Trade between India and Thailand also increased with reduced tariffs and new initiatives by both the countries. India exported goods worth $3.133 billion and imported goods worth $5.415 billion respectively in the year 2016-17.
Indian Engineering Exhibition (INDEE)
EEPC INDIA has organized 38th Indian Engineering Exhibition (INDEE) coinciding with Thailand Industrial Fair from 1st February to 4th February, 2018 at BITEC, Bangkok, Thailand. Around 75 Indian Engineering companies participated from all over India exhibited their Engineering Capabilities. Mr. Abbagani Ramu, Deputy Chief of Mission, Embassy of India, Bangkok inaugurated the Indian Pavilion.
Business and Investment Opportunities in the Indian State of Kerala’
Embassy of India and the Indian State Government of Kerala in collaboration with The Thai Chamber of Commerce and Board of Trade of Thailand organised a Seminar ‘Business and Investment Opportunities in the Indian State of Kerala’ on 2nd February 2018 at Pullman Bangkok Grade Sukhumvit Hotel, Bangkok. Keynote address was given by Mr. Abbagani Ramu, Deputy Chief Mission, Embassy of India followed by remarks by Mr. Sanan Angubolkul, Vice Chairman, Thai Chamber of Commerce & Board of Trade of Thailand. Mr. Vinod Manjila, Convenor, Confederation of Indian Industries and Managing Director, Manjila Food Tech P. Ltd, make a presentation on ‘Business and Investment Opportunities in Kerala’. B2B sessions were also organized with the Kerala business delegation.The event entailed a very good response, and was attended by around 50 leading businessman from Thailand. The delegation was mainly comprising of Food Processing & Packaging Industries. Kerala delegation also visited different food processing & packaging industries viz. Suree Interfood Co., Food Innopolis.
Venezuela
(Source : Embassy of India, Caracas)
Trade between India and Latin America reached $30 billion in 2016: Through its Institute for the Integration of Latin America and the Caribbean (INTAL), the Inter-American Development Bank (IDB) has launched a new study, “Latindia: The Future of Cooperation between India and Latin America,” which covers issues such as export destination markets, strategic business areas, global value chains, productive synergies, and opportunities for market development between the two markets. The report estimates that trade between India and Latin America reached US$ 30 billion in 2016, suggesting that there is great potential for economic ties to diversify and continue to grow in the medium term. It also estimates that 50,000 local workers are employed by the approximately 200 Indian companies that operate in the region. Latin America’s share in India’s total trade increased from 1.7% in 2000 to 4.6% in 2016. Between 2016 and 2017, the main products that the region exported to India were crude oil (US$ 9.5 billion), vegetable oils (US$ 2.9 billion), and gold and precious stones (US$ 1.7 billion). Indian investment in Latin American hydrocarbons, pharma, automobiles, agroprocessing, engineering, textiles, chemicals, and electronics is estimated to be worth around US$ 20 billion.