Indian economic relations with ASEAN-Oceania have evolved
The Indian industry has been urged 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 to the ASEAN and Oceania countries.
The call was made by Riva Ganguly Das, Secretary (East), Ministry of External Affairs, on 22 Jan 2021. Das emphasised the importance of India’s relations with countries in the ASEAN and Oceania regions for enhancing collaboration in areas such as Digital connectivity, Information Technology, Fintech, Healthcare and Pharmaceuticals.
Das highlighted the centrality of these two regions in terms of India’s vision for Indo-pacific while addressing the session ‘India’s Engagement with World’s Growth Centre – ASEAN and Oceania Region’, which was organized by FICCI.
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.
FICCI President Uday Shankar elaborated 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”.
Sectors such as start-ups and innovation, e-commerce, infrastructure, Artificial Intelligence, Blockchain among others hold the maximum promise for collaboration between India and the countries in the ASEAN and Oceania region, said Shankar.
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”.
FICCI Secretary General Dilip Chenoy added, “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, he stressed.
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. #exports #trade #investment #ASEAN /fiinews.com
