India fast emerging as global hub for international trade

Updated on: Friday, July 24, 2009

Post Sri Lanakan conflict, the government is focussed on improving Northern and Eastern provinces as investment destination and Indian companies should make the best use of the opportunity, P.M. Amza, Sri Lankan Deputy High Commissioner in Chennai, said at the seminar organised by the Confederation of Indian Industry.

As Special Economic Zones were being set up in Trinconmalee and Kilinochichi, he invited Indian firms to invest in mineral sector, palmira fibre products, cement industry, skill development and vocational training.

Joelle Rayet, Consul General of France in Puducherry, told that Tamil Nadu was a favourite investment destination for French companies. Chennai and Puducherry accounted for 63 companies out of the total 650 firms operating in India.

Speaking at the seminar, Aileen Crowe Nandi, US Consulate Principal Commercial Officer in Chennai, said that an aerospace supplier development trade mission would be visiting New Delhi, Hyderabad and Bangalore in November.

In spite of the economic recession, bilateral trade between India and UK remained healthy. Recently, India has become the top Asian investor in UK, surpassing Japan, said Robert Kelly, Deputy Head of Mission, British Deputy High Commission.

In the inaugural session, Naresh Penumaka, Customs Commissioner (Port-Exports), said that the revenue collections of Chennai Sea Port for 2009-2010 (up to June 2009) declined to Rs.2, 610 crore from Rs.4,056 crore in the corresponding period.
He said that there was a tremendous opportunity for India to become a transhipment hub and it needed to change its existing operating model at Ports from 'Local' to 'Global.'

D. Lakshmikanthan, Deputy Director General of Foreign Trade, said that the Centre had initiated several measures to promote foreign trade.

Chennai: India is fast emerging as the global hub for international trade and investment said speakers at a seminar on 'Emerging Opportunities in International Trade and Investment'

India fast emerging as global hub for international trade

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