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NEW DELHI: India is eyeing an increased investments from Commonwealth countries as the country is expecting the sports event to add $5 billion to the economy and create about 2.5 million jobs in the next few years.
"India is keen to increase trade ties with Commonwealth countries and has the capacity to engage with the world on all fronts - economic, political or sports. Now it's time to prepare for the future as there is limitless opportunity in India." said Anand Sharma, India's minister of commerce and industry.
"Trade between Commonwealth countries will look into more diverse sectors as there are sweeping changes happening in recent decades," said Sharma, while addressing the Commonwealth Business Forum 2010 (CBF) in New Delhi.
Two-way trade between India and Commonwealth nations currently stands at about $80 billion, which is expected to grow manifold in the coming years.
Rahul Bajaj, former chairman, Commonwealth Business Council, emphasized the need to form global partnerships as a huge potential exists in emerging markets which can be penetrated.
"There is huge potential for India to increase its trade with Commonwealth member countries," he said. "New markets have to be explored, with a mutual benefit model. As all the Commonwealth countries have similar economic and social situations, it is easier to operate in them."
The Indian economy is expected to grow by 9.7 percent in 2010 and 8.4 percent in the next fiscal, driven by robust industrial production and macro-economic performance, according to a International Monetary Fund report released on Wednesday
"This is the time to be in India, this is time to invest in India and this is the time to partner India's development saga," said Indian Minister of State for Agriculture and Consumer Affairs K. V. Thomas.
"The opportunities for business during sports events are very large. In Delhi, itself, the estimates for the city infrastructure, sports venues and other necessities stand at close to $10 billion," he added.
Thomas said the Games was likely to create nearly 2.5 million jobs in the next few years and would substantially boost economic growth.
"We will be gaining from this event for many years to come. It is expected to create 2.5 million jobs over the next few years. Its economic impact is estimated to be nearly $5 billion," he said.
Michael Fennell, president, Commonwealth Games Federation, said the Games will leave behind a rich legacy of infrastructure which businesses will use to maximize their objective.
Ajay S. Shriram, chairman, CII Business Club India, said the natural outcome of CWG is jump shift in the way Commonwealth countries do business.
"This lays a strong foundation for forming mutual links which will lead to robust demand. There is a huge potential and private sector should take the lead and act as a catalyst for growth," he said.
"Market driven economy, microfinance, frugal innovations and similar market conditions shared by Commonwealth countries will help all these countries form trade linkages more easily," said Gregor MacKinnon, MD, Commonwealth Business Council, United Kingdom.
India woos investments from Commonwealth nations - Arab News
"India is keen to increase trade ties with Commonwealth countries and has the capacity to engage with the world on all fronts - economic, political or sports. Now it's time to prepare for the future as there is limitless opportunity in India." said Anand Sharma, India's minister of commerce and industry.
"Trade between Commonwealth countries will look into more diverse sectors as there are sweeping changes happening in recent decades," said Sharma, while addressing the Commonwealth Business Forum 2010 (CBF) in New Delhi.
Two-way trade between India and Commonwealth nations currently stands at about $80 billion, which is expected to grow manifold in the coming years.
Rahul Bajaj, former chairman, Commonwealth Business Council, emphasized the need to form global partnerships as a huge potential exists in emerging markets which can be penetrated.
"There is huge potential for India to increase its trade with Commonwealth member countries," he said. "New markets have to be explored, with a mutual benefit model. As all the Commonwealth countries have similar economic and social situations, it is easier to operate in them."
The Indian economy is expected to grow by 9.7 percent in 2010 and 8.4 percent in the next fiscal, driven by robust industrial production and macro-economic performance, according to a International Monetary Fund report released on Wednesday
"This is the time to be in India, this is time to invest in India and this is the time to partner India's development saga," said Indian Minister of State for Agriculture and Consumer Affairs K. V. Thomas.
"The opportunities for business during sports events are very large. In Delhi, itself, the estimates for the city infrastructure, sports venues and other necessities stand at close to $10 billion," he added.
Thomas said the Games was likely to create nearly 2.5 million jobs in the next few years and would substantially boost economic growth.
"We will be gaining from this event for many years to come. It is expected to create 2.5 million jobs over the next few years. Its economic impact is estimated to be nearly $5 billion," he said.
Michael Fennell, president, Commonwealth Games Federation, said the Games will leave behind a rich legacy of infrastructure which businesses will use to maximize their objective.
Ajay S. Shriram, chairman, CII Business Club India, said the natural outcome of CWG is jump shift in the way Commonwealth countries do business.
"This lays a strong foundation for forming mutual links which will lead to robust demand. There is a huge potential and private sector should take the lead and act as a catalyst for growth," he said.
"Market driven economy, microfinance, frugal innovations and similar market conditions shared by Commonwealth countries will help all these countries form trade linkages more easily," said Gregor MacKinnon, MD, Commonwealth Business Council, United Kingdom.
India woos investments from Commonwealth nations - Arab News
growth. These will automatically bring more and more investments.
