India, Portugal open business hub in Goa to boost economic ties

With an aim to boost India-Portugal economic ties, a business hub was inaugurated on Wednesday in Goa's capital Panaji.

The business hub was inaugurated by the Indian ambassador to Portugal K Nandini Singla in the presence of Council General of Portugal Dr.Rui Baceira and CEO Reira Group Darryl Pereira.

"We are very happy to open a business hub in Goa, a platform for Indian diaspora and Portuguese diaspora to get together to connect businesses in various synergies," Singla told ANI at the inauguration event.

The Indian ambassador to Portugal further asserted that it was an important step for both the countries, as they have signed 20 MoUs after Portugal Prime Minister Antonio Costa visited India in January followed by Prime Minister Narendra Modi's reciprocal visit to Portugal in June.

"I believe the dynamics and atmosphere are fertile for leap in terms of business, trade and investment between India and Portugal, and we have bilateral trade of 700 billion dollar, which is expected to cross in the near future," she added.

She also said the business hub would open more avenues for investments in various sectors like water management, waste management, renewable energy, infrastructure development, specially construction of ports and shipping, agriculture and food processing, and so on and so forth.