In times to come, India’s relationship with ASEAN will be written in Gold : Dr Jitendra Singh

No.PR-89

November 11, 2019

New Delhi

In times to come, India’s relationship with ASEAN will be written in Gold : Dr Jitendra Singh

PHD Chamber of Commerce and Industry organized its 1st “India-ASEAN Business Summit: Today, Tomorrow, Together, today at the PHD House, New Delhi. The objective of the Summit is to reinforce and strengthen Government of India’s Act East Policy and to deepen bilateral trade and investment relations with ASEAN Nations.

The Chief Guest of the Summit, Dr. Jitendra Singh, Hon’ble Minister of State (IC) for Development of North Eastern Region and Minister of State for the Prime Minister’s Office, Ministry of Personnel, Public Grievances and Pensions, Department of Atomic Energy and Department of Space, Government of India, said that the role of ASEAN countries in India’s story of becoming a USD 5 trillion economy by 2024-25 will be written in gold.

The Hon’ble Prime Minister Shri Narendra Modi has consistently emphasized the importance of closer collaboration with ASEAN nations and the importance of India’s North-Eastern region, which is a vital corridor for enhanced trade relations with the ASEAN countries, said Dr. Singh.

Addressing the dignitaries, Dr D.K. Aggarwal, President, PHD Chamber of Commerce and Industry, appreciated the efforts of the Indian Government towards building stronger ties with ASEAN countries.

“ASEAN is a major trading hub for business and a global consumer market, and we share a history and culture. Where the world economy is facing problems like trade wars, the kind of relationship that India shares with the ASEAN countries can further enhance trade and investment ties between India and the ASEAN economies,” said Dr D.K. Aggarwal.

Mr Ajay Poddar, Chairman, International Affairs Committee for ASEAN, East Asia and Oceania, PHDCCI, while welcoming and addressing the delegates, said that the India-ASEAN camaraderie in terms of trade relations is poised to quadruple from the current levels.

Mr Dato Ramesh Kodammal, Co-Chairman, ASEAN India Business Council (AIBC), said ASEAN countries have shared strong trade and cultural links with India for centuries.

While appreciating the participation of over 60 overseas delegates at the summit, Mr Dato Ramesh said that India will continue to flourish if its relations with the ASEAN countries remain healthy.

Urging the industry and established businesses to adopt at least five SMEs and mentor them for better growth, pointing out that 97% of the businesses in India-ASEAN are SMEs, said Mr Dato Ramesh.

Among those who addressed the ASEAN Business Summit were Mr Sanjay Aggarwal, Senior Vice President, PHDCCI; Mr Chutintorn Gongsakdi, Ambassador, Royal Thai Embassy, and Chair of ASEAN Region; and Ambassador K.V. Ranjan, Convener Ambassador’s Economic Forum, PHDCCI, among others.

The Summit provided a platform to all stakeholders, delegates and diplomats to explore the viability of policy changes and exchange sustainable suggestions on strengthening the India-ASEAN relationship. A brief report prepared by the PHD Research Bureau on India’s trade and investment opportunities with ASEAN economies was also released at the summit.

End.

Media Division

PHD Chamber of Commerce and Industry