India pitch at Asean Business and Investment Summit ‘07

India pitch at Asean Business and Investment Summit ‘07

New Delhi: India will receive special focus at the 2007 Asean Business and Investment Summit on 17 November when Montek Singh Ahluwalia, deputy chairman, Planning Commission makes an India pitch.

The meet coincides with the ‘2007 Asean Business & Investment Summit’ that is being held in Singapore.

An annual affair,it is held prior to the political summit by the host Asean country and attracts high-level businessmen and senior economic officials from Asean and dialogue partner countries like China, India, South Korea and Japan.

According to N Kumar, past president, CII and vice chairman, Sanmar Group, “Asean provides Indian companies with exciting opportunities and we are working to capitalize on these opportunities and build lasting partnerships."

Issues that are likely to be taken up

* Southeast Asian countries specialization in manufacturing and hardware capabilities

* India’s comparative advantage in services, software and knowledge-based manufacturing

* Promoting mutual investment, and spurring enterprises to focus on opportunities and prospects offered within the region

With sustained engagement over the years and as part of India’s Look East Policy, the Asean region has become a preferred destination for Indian enterprises, and many corporates have already set up operations in the region. Their interests extend to almost all sectors in manufacturing and services

India, with its huge consumer market, and infrastructure requirement is estimated to involve an investment of about $500 bn over the next five years, present a formidable opportunity for companies of the Asean region. With sustained economic growth over the next two decades, it is predicted, India would become one of the three largest economies of the world with large consumer markets and service and manufacturing industries.

The Asean Business and Investment Summit provides great opportunity to build connectivity and relationship with high-level business representatives, government leaders and economic officials of the partner countries. It also presents a platform to showcase promising Small & Medium enterprises of India, which could be global players of the future.