AIAI and WTC Mumbai to host India – Latin America & Caribbean Partnership Conclave: Opportunities to promote Trade and Investment for the first time in Mumbai
The All India Association of Industries in association with the World Trade Centre Mumbai and the Group of Latin America & Caribbean (LAC) are organizing a networking Conclave on “India-Latin America & Caribbean Partnership: Opportunities to Promote Trade and Investment” on June 15th -16th, 2017 in Mumbai. This is the first India-LAC joint programme in Mumbai. In this Conclave, ambassadors and trade commissioners over 20 countries are participating.
Mr. Vijay Kalantri, President, All India Association of Industries said, “Today, India and Latin America are the world’s emerging growth poles. Historically, the economic relations between India and Latin America were subdued due to the geographical distance and poor connectivity. This has limited Latin America’s emergence as the preferred trade partner with India.” He further added that the Government of India has set its vision to double trade between India and Latin America is likely in the next five years to USD 100 billion from the current level of USD 46 billion with direct shipping, improved air connectivity, visa-on-arrival, as well as free trade agreements as some of the steps being taken to boost bilateral trade.
The Conference is supported by Ministry of External Affairs, Ministry of Commerce and Industry and Government of Maharashtra.
Latin America’s collective GDP is more than USD 5 trillion and boasts dynamic and resource-rich part of the world with high democratization and surging economic growth. Acknowledging this, the Indian government has initiated several steps to improve trade and investment.
This programme would act as a catalyst to promote trade and investment between the 2 regions and will address various factors to help shape the future of India-LAC trade relations.