Govt will extend every support to increase Indian investments in Europe: MoS External Affairs M J Akbar

Minister of State for External Affairs Mr. M J Akbar said today that India is committed to extending every support to Indian industry's focused efforts to increase investments in European countries. Mr. Akbar said that India is assiduously furthering the global goal of shared prosperity.

The radical reforms that were introduced by the Government of India some four years ago under the leadership of Prime Minister Mr. Narendra Modi have delivered robust results, said Mr Akbar, while highlighting the government programmes that contributed to the socio-economic transformation of the country. He cited how interventions in the areas of micro-finance and housing have strengthened the participation of women in development endeavours.

Pointing to the threat of terrorism confronting global societies, Mr. Akbar said that India and Europe have come together to fight the war against terrorism and make the world a peaceful place to live in.

Mr. Tomas Huner, Minister of Industry and Trade, Czech Republic, said that India is one among ten most important non-European trade partners of Czech Republic. He underlined the immense scope for bilateral partnerships in the area of energy development.

Mr. Huner highlighted the core strengths of the Czech Republic, such as a highly qualified domestic workforce, investment protection laws, among others, as factors that would attract Indian investments to the country.

Mr. Camelo Abela, Minister for Foreign Affairs and Trade Promotion, Malta, urged Indian industry to increase their investments in Malta and enjoy the benefit of easier access to the European and African markets. "Malta is open for business," he said, and referred to pharma manufacturing, education, healthcare, consultancy, renewal energy, financial services, events, biotechnology research, knowledge-based industries among other sectors that would be particularly attractive for investments by Indian companies. Mr Abela also mentioned about Malta being a global film production hub.

Mr. Sandip Somany, Senior Vice President, FICCI, said there is significant scope for increasing the India-Europe 29 bilateral trade flows that stood at $38 billion in 2016-17. Cumulative bi-directional India-E29 investments of $16 billion in 13 years is "miniscule" when viewed against the unexplored opportunities for expanding bilateral trade flows. He also pointed to the need for strengthening India-E29 partnerships involving small and medium enterprises (SMEs).

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