Arab Region’s Reserves Is Sought By India
Investments is sought out by India from public and private sector firms in Arab regions in various sectors like infrastructure and railways enhance the fiscal knot in the midst of regions.
Nirmala Sitharaman who gave speech in the 4th India-Arab conference, said that there are vast opportunities for the businesses of Arab regions to make reserves in India. She invited both the public and private sector firms to invest in India. She said that they can do joint business enterprises with the domestic firms.
India, The Prospective Place For Foreign Investors
She also explained how the mega projects like Delhi-Mumbai Industrial Corridor and Amritsar-Delhi-Kolkata Industrial Corridor (AKDIC) were prospective for the foreign investors. In the name of ‘Make in India’ programme, 25 sectors were recognized. Some of them are automobile, pharmaceuticals, biotechnology, ports and textiles. The main objective of the programme is to ask for firms to create manufacturing units. She also added up by saying that, great opportunity is offered by India for technology transmits to the region of Arab.
It was said by Sitharaman that the policies of India are transparent for everyone; it is also stable offering a level play for domestic as well as foreign investors. The joint venture projects that were flourishing was also recollected. Being the major importer of Jordanian phosphatic products, a joint venture project is ready for official inauguration, in the midst of Indian farmers and Fertiliser Co operation Ltd.
Significant Projects
Likewise, the project of Oman Indian Fertiliser company is a significant milestone for guaranteeing continual urea supplies to India. She also added up that this is a JV project endorsed by IFFC along with Krishak Bharti Cooperative Ltd from the part of India and from Omanese side it is the Oman Oil company with a deal of USD 360 million. During the year 2013-14, the business between India and Arab put up with 185.6 billion. It contributes the Indian global trade with 23.4 percentage.
The commerce and Industry Minister of Saudia, Tawfiq Fawan Al Rabiah gave his speech at the conference and told the significant reasons to keep economic relations with India which is the biggest commerce partner of Arabia regions.
Article Source: The Economic Times
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