Indo-Swiss JEC Identifies More Investment Avenues

The 11th Meeting of the Indo-Swiss Joint Economic Commission (JEC) that took place in New Delhi on 21 October observed that rapid economic growth in India presents an attractive opportunity to Swiss business for making investments in various sectors.

The JEC reiterated their commitment to further enhance bilateral trade in view of the huge potential for expanding and diversifying the trade basket. Dr. Rahul Khullar, Special Secretary, Department of Commerce led the Indian delegation and the Swiss delegation was led by Ambassador Monika Ruhi Burzi, Head of Bilateral Economic Relations, State Secretariat for Economic Affairs.

Both sides welcomed the commencement of the negotiations for the India-EFTA Broad Based Trade and Investment Agreement. The JEC identified the information technology and tourism sectors as having potential for larger bilateral economic flows. Bilateral economic engagement will further boost the business-to-business contacts and enable exchange of high-level ministerial delegations. The next meeting of the JEC will be held in Berne in 2009.

Meanwhile, efforts are on to give more importance to the joint economic commission mechanism including meetings on a regular basis, at least once a year, said Christian D Watts, Regional Director (India, Middle East & Africa), Swiss Trade and Investment Promotion.

Watts led a delegation from various Cantons, which are States of Switzerland, on a road-show around major Indian business cities (Mumbai, Hyderabad, Chennai and Delhi) to meet with local business communities.

“You can run your business in Europe from Switzerland. We are fully integrated into the European economy while not being part of the political union. Your companies can go global via Switzerland,” Watts said.

Switzerland has to date cumulative investments in India of over 2 billion Swiss francs.

About 150 Swiss companies are in India and they employ about 40,000 workers. While exports from Switzerland to India grew by 22 percent last year, Indian exports to Switzerland grew 30 percent.



UK-India Business Council Opens Delhi Office 

The UK India Business Council (UKIBC) opened its office in New Delhi. The Confederation of British Industry (CBI) also plans to open an office in the same location in the near future.

Speaking on the occasion, Sir Richard Stagg, British High Commissioner to India, said, “This is an exciting time to be doing business in India, the second fastest growing economy in the world. Business links between the UK and India are booming”.

“The first half of 2008 has witnessed some big investments from the UK into India. And the UK has been the country of choice for overseas investments by Indian companies this year — accounting for $6 billion worth of deals. The opening of the CBI, UKIBC and the British Business Group (BBG) offices in Delhi will help to further enhance two-way trade and investment between our two countries”.

Mr. Andrew Cahn, Chief Executive, UK Trade and Investment, said, “The UK and India have a flourishing commercial relationship and to support this my organisation, UKTI, has increased its resources in the last year to 90 staff in nine offices across India”.

“The opening of the UKIBC office today and the commitment of the UKTI, CBI and UKIBC partnership sends a powerful signal that the UK business community sees India as a priority trading partner.”

Mr. Richard Lambert, Director-General, CBI, said, “Delhi is an important and timely addition to the Confederation of British Industry existing international footprint. Our presence in Delhi will allow us to step up our efforts in furthering Indo-British economic partnership. We believe there is tremendous potential for UK and Indian businesses to derive mutual benefit and growth, and we aim to play an enabling role in strengthening this relationship.”

Lord Bilimoria, Chairman, UK India Business Council, said, “It is our job to promote trade and investment between the UK and India in both directions. There are huge challenges, but huge opportunities in India and companies are constantly converting threats and risks into success. We are pleased to open our Indian office in Delhi which will contribute towards increasing the UK-India trade and investment.”

At the launch of UKIBC’s India office, Mr. Sharon Bamford, Chief Executive, UKIBC, said, “Our Indian office will support and facilitate UK companies to set up and do business in India. This has been a significant first year for UKIBC and we are proud of our team and achievements in such a short space of time.”

India-Egypt Cooperation on Heritage Sites

A three-member team of the Archaeological Survey of India (ASI), the premier organisation for archaeological research and protection of the cultural heritage in the country, will visit Egypt to assist it in conserving and maintaining a nearly 100-year-old Baron Palace.

ASI has helped Pakistan and Cambodia in preserving the Katsaraj and Ta Prohm Temple complexes. Many countries are requesting ASI expertise in maintaining historical sites and heritage buildings. India will help Egypt in conserving and maintaining Baron Palace in Cairo, which looks like a typical Hindu temple. The Baron Palace, also known as Hindu Villa, is facing decay due to lack of appropriate care by the authorities.

ASI, which conserves the majority of temples and archaeological sites in India, has lately started spreading its wings abroad with a number of countries submitting proposals to it requesting its expertise in conserving and maintaining historical places, religious and heritage buildings. Says ASI Director-General Anshu Vaish: “A team from the ASI will travel to Cairo to help the Egyptian government in conserving the age-old Baron Palace in the capital city,”

The Baron Palace, which is located in the new city of Heliopolis in Cairo is named after Belgian builder and the resident of Place Baron-General Edouard Louis Joseph Empain. Baron Empain founded Heliopolis district, 10 km from Cairo, as he bought 6,000 acres of land in desert with one Egyptian pound from Nubar Pasha.

ICRISAT Centre in Nigeria

The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) will soon re-establish its centre in Nigeria. This was formalised through a Memorandum of Understanding (MoU) signed with the Agricultural Research Council of Nigeria (ARCN). The ICRISAT Director-General, Dr William D. Dar, and the Executive Director of ARCN, Dr B.Y. Abubakar, signed the MoU recently in Hyderabad.

ICRISAT had research collaboration with the Nigerian Government since 1987, with a research centre at Kano, which was closed down later. According to Dr Dar, the MoU will strengthen collaboration with Nigeria, and with the re-established center, ICRISAT scientists and their counterparts from the national agricultural research system of Nigeria will be able to work together closely on agricultural research.

French Agro-Food SMEs to Visit India

A French delegation of small and medium enterprises (SME) in the agro-food sector will visit India to strengthen business ties between the two countries. According to Foreign Trade Minister of France, Ms Anne Marie Idrac, who was in India recently; “In the next two years, I intend to lead two separate SME delegations. The first one will be on agro-food. In the subsequent year, I am planning to bring an SME delegation on biotechnology,” Ms Idrac told reporters on the sidelines of a Confederation of Indian Industry function in New Delhi.

A delegation of over 15 companies, comprising both large enterprises and SMEs, accompanied the Minister on her visit to New Delhi. The focus areas for many of the companies were renewable energy and environment.

In November 2008, a working group meet on agriculture will be held. Indian Minister for Commerce Kamal Nath indicated that this meeting would see an exchange of views on agricultural trade besides exploring collaboration in fruits and vegetables, grapes and wines, dairy, and animal husbandry.

India Festival in the Netherlands

The Netherlands will be hosting an India Festival, which is set to be the biggest in Holland. The three-week cultural presentation beginning November 12, will feature over 100 performances by noted Indian performers in about 30 Amsterdam-based art institutions under the theme ‘Blended Cultures’.

The Dutch Ambassador to India, Bob Heinsch, said over 70 companies and more than 70,000 visitors were expected at the forthcoming event. During the meet CEOs from top companies from the Netherlands and India will attend a round table conference. The festival would be inaugurated by Princess Maxima of the Netherlands in the presence of ICCR President Karan Singh and several other Dutch ministers. Indian Commerce Minister Kamal Nath will lead a delegation of Indian companies coordinated by the Federation of Indian Chambers of Commerce and Industries for a two day Netherlands India Business Meet from November 21.

Pavan K Verma, Director, Indian Council of Cultural Relations described the event as ‘path breaking’.

Canada to Open Trade Office in Ahmedabad

Canada will open a Trade Office in Ahmedabad. Prime Minister Stephen Harper announced this in Toronto, while delivering keynote address at a function organised by the Indo-Canada Chamber of Commerce and affirmed that Canada was committed to expanding bilateral relations with India. “Canada has made India a priority nation for upgrading ties, and is committed expanding its relations with the country,” Harper said.

“The products and services that Canada and India produce and what each country needs are complementary. The strong linkages offered by a vibrant Indo-Canadian community represent further untapped potential in the relationship,” he said.

Harper also said that a big challenge before his country was shortage of labour force, and to meet that challenge the government had made a number of reforms in its immigration laws. REL Aryan, High Commissioner for India and Deeps Iberia, Parliamentary Secretary to the Minister of Foreign Affairs, welcomed the Prime Minister’s decision to open Trade Office in Ahmedabad.

India, Malaysia Working on Trade Pact

India and Malaysia are working on a Comprehensive Economic Cooperation Agreement (CECA). Two rounds of negotiations have been completed and the third round will be held in Kuala Lumpur.

Says Mr Dato’ Tan Seng Sung, Malaysia’s High Commissioner to India, “The joint feasibility study concludes that there is huge potential for trade in goods; services such as medical, healthcare, computers, and investment in construction, telecom-munications, civil aviation and tourism, among others.” He was addressing an interactive session organised by the Indian Chamber of Commerce in Kolkata.

Mr. Seng Sung identified biotechnology, pharmaceuticals, information technology and financial services as other possible areas of cooperation between the two nations. The negotiation on trade in services and investments between India and the Association of South-East Asian Nations is expected to commence in December.

Bilateral trade between India and Malaysia amounted to US$4.14 billion for January-June 2008, up from US$2.94 billion during the same period last year. Malaysia’s exports to India were US$3.69 billion and imports from India stood at US$1.67 billion during January-June this year.

Crude petroleum, electrical and electronic products, chemicals, palm oil and petroleum were the major products of export from Malaysia while live animal and meat, refined petroleum products and machineries were the major imports from India, he said.

The Malaysian companies have invested close to US$250 million, the major sectors of investments being construction, power generation, telecommunications and logistics and resort sectors.

India-ASEAN Plan Joint Buddhist Pilgrimage Tourism

In an effort to broaden the prospect of spiritual tourism, representatives of India and the Association of South East Asian Nations (ASEAN) have discussed ways to develop joint Buddhist pilgrimage tours in the region. Officials of tourism ministries, private tour operators and experts from ASEAN countries discussed ways to explore Buddhist pilgrimages in their countries during the four-day workshop held at Bagan, Mandalay and Yangon in August.

Myanmar’s Deputy Minister for Hotels and Tourism, Brig-Gen Aye Myint Kyu, Deputy ASEAN Secretary-General Nicholas Tandi Dammen and Bani Brata Roy, Undersecretary at the Indian Ministry of Tourism attended the workshop.

India-Russia Defence Cooperation to Go Up

The 8th meeting of the Indo-Russian Working Group on Shipbuilding, Aviation and Land Systems was held in New Delhi and signed a protocol at the end of the meeting.

India and Russia resolved to extend the defence cooperation in a number of sensitive areas. The two sides exchanged views on implementation of current projects like T-90 tanks, missile systems and shipbuilding activities and aviation sector projects like the fifth generation fighter aircraft and multi-role transport aircraft. They also agreed to take steps for ensuring their successful implementation.

Ajoy Acharya, Additional Secretary, Department of Defence, Production of the Ministry of Defence and Karavaev Igor Evgeniyevich, Director of the Department for Defence Industry Complex Development of the Russian Ministry of Industry and Trade, presided.