CII Communique - October, 2010

eportCII Delegates with Miguel Jorge, Minister of Development, Industry and Foreign Trade, BrazilMr. Scindia met CEOs of top Brazilian companies whoalready have interests in India as well as others who arekeen to enter the Indian market as investors. He invitedand encouraged the Brazilian industrial community tovisit India. The Minister also had fruitfulinteractions with leading Brazilianmedia in which he highlighted thatthe existing trade volumes are justthe tip of the iceberg, with hugepotential yet to be tapped. Over 250Brazilian companies participated inpre –arranged B2B interactions withthe Indian delegates.CII India-Peru Seminar andBusiness MeetFrom Brazil the CII delegationcontinued to Peru on 6 September.The CII India-Peru Seminar andBusiness Meet (B2B) was organisedin Lima in collaboration with IndianEmbassy in Peru and the LimaChamber of Commerce atLima. About 150 Peruviancompanies participated inB2B interactions with theIndian delegates to discussbusiness opportunities andjoint projects for both tradeand investments.India and Peru have muchto offer to each other. Peruhas a wide variety of oresand natural resources thatIndia needs for infrastructuredevelopment. Peru has also“In order to leverage bilateralcomplementarities, India andPeru can forge a much closereconomic partnership. Theglobal economic crisis, whoserepercussions are still evolving,has initiated a new paradigm incooperation between emergingeconomies. In this context,there are high aspirations setfor the private sectors of bothcountries to create and developcommercial and investmentlinkages that will strengthen thebilateral economic relationship.”Jyotiraditya Scindia, Minister of Statefor Commerce and Industry, IndiaCarlos Durand Chahud, President, Lima Chamber of Commerce,Jyotiraditya Scindia, Dr. Martín Pérez, Minister of Commerce andTourism, Peru, Appunni Ramesh, Ambassador of India to Peru andShubhendu Amitabh, in Limadone very well in agricultural products, capturing worldmarkets. India can benefit from exporting manufacturedgoods to Peru. India is also keen to invest in Peru aswell as develop joint ventures for common projects.Indian companies have alreadymade inroads into sectors such aspetroleum, pharmaceuticals, and ITeducation. They need to considerinvestments in mining, transport,and tourism, taking advantage ofPeru’s liberal investment climate. TheCII business meet highlighted theseopportunities.Located on opposite ends of theworld, India and Peru naturally facedifficulties in movement of goods.The lack of direct shipping routesand insufficient information deters thefull flowering of bilateral economicengagement. The lack of logisticsneeds to be tackled on a prioritybasis by creating a facilitativeclimate for shippers and businessesto build new supply lines.The information deficit canbe bridged by establishingregular contacts betweenIndian and Peruvianbusinesses. The visitorsurged the Peruvian businesscommunity to participatein India trade shows, andbring business missionsto India. The industryassociations of both sidescan together reinforcetrade ties by increasing64 | October 2010 Communiqué