Home >News >India >Goyal invites Indo-Pacific businesses for collaboration in sunrise sector

NEW DELHI: Trade minister Piyush Goyal on Wednesday invited the business community in the Indo-Pacific region to actively take part in efforts for bolstering development, trade and growth in the region in emerging sectors.

"We can expand our export-import collaboration in areas of clean tech, tourism, logistics, sustainable agriculture, startups, healthcare, education & life sciences," Goyal said while urging companies to set up their manufacturing base and expedite integration into each other's supply chains.

India’s track record should give confidence to our friends that it will be their natural and most reliable ally in years to come," Goyal said while delivering the keynote address at the CII’s special plenary with trade ministers of the Indo-Pacific region on the subject “Developing a Road Map for Shared Prosperity",

Goyal said shared prosperity is impossible without shared commitment and it is commitment which entails sharing challenges as well as opportunities and risks as well as rewards.

Describing the Indo-Pacific region as the new economic centre of gravity of the globalised world, Goyal said Prime Minister Narendra Modi, in 2015, had articulated his vision for the Indo-Pacific in one word ‘SAGAR’ i.e Security And Growth of All in the Region. “It must serve as the guiding principle for all nations in this region, as a secure & stable Indo-Pacific region equals peace & prosperity for all," he added.

The trade minister assured that as the world moves to realign from over concentrated and risky supply chains, it can trust India to provide a multitude of investment and manufacturing opportunities. “India endorses the concept of working towards ensuring a transparent, trustworthy, dependable & reliable supply chain."

Citing the Supply Chain Resilience Initiative launched in September last year as a firm step towards building resilient supply chains, Goyal said other friendly countries may also be included in it.

The session was also addressed by Yoon Sung Roh, Chairman of the Presidential Committee, Republic of Korea; Betty C. Maina, Cabinet Secretary, Ministry of Industrialisation, Trade & Enterprise Development, Republic of Kenya; Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade & Minister in charge of Talent Attraction and Retention, United Arab Emirates; Faiyaz Siddiq Koya, Minister for Commerce, Trade, Tourism and Transport, Republic of Fiji; and Bandula Gunawardana, Minister of Trade, Republic of Sri Lanka.

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