India Asks its Missions to Help Identify Business Scope

Indian commerce and industry minister Piyush Goyal recently urged Indian missions abroad to help identify business opportunities for domestic firms, exporters and make India a preferred investment destination. The minister, along with external affairs minister S Jaishankar, interacted with 131 missions through video conference, a ministry statement said.

“We should aim for an economic growth higher by 3x … Discussion have happened at the highest levels where clear instructions have been given to capture the opportunities opening after the post-COVID scenario,” Goyal was quoted as saying in the statement.

“Indian missions should help us with identification of business opportunities that exist in their countries,” Goyal said.

He added that Invest India and the Department for Promotion of Investment and Internal Trade are working to create a genuine single window for setting up factories and manufacturing units.

As per the statement, all the missions have been asked to send a proposal to look at the opportunity post COVID-19. The proposal should have innovative ideas and should be submitted, containing suggestions to improve the country’s exports.

It said that missions need to start networking, communicating with companies, come up with business leads and new contacts, and identify technology which can be implemented in India and ‘fight for India’ in their countries.

The statement quoted Jaishankar as saying that outcome of this pandemic is that now the whole world is aware of the consequences of over dependence on one geography and the recovery path for India will be through trade and investment.

He specifically identified the opportunity in the pharmaceutical and agricultural sectors, and in the African region.

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