Home » Business » Suresh Prabhu addresses Diplomats of LAC Region

Suresh Prabhu addresses Diplomats of LAC Region

 

Newdelhi:28/2/19:Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu,interacted with diplomats of India-Latin America and Caribbean Strategic (LAC) Economic Cooperation in New Delhi yesterday. In his keynote address Suresh Prabhu stressed on the need for a multi-pronged strategy to enhance our bilateral trade, both in merchandise and services.He said that establishing value chain linkages will help to boost trade relations between LAC-India. Patterns of trade have changed dramatically over the past few decades, and business activities at different stages of value addition are now located in different countries, based on where they are most efficiently produced. Any strategy for enhancing bilateral trade between LAC-India will therefore critically hinge on the scope for value chain integrations in various manufacturing and services segments.

The Minister said that there exists substantial scope for further cooperation in a multitude of sectors, including agriculture, health, energy and information technology. India, as a fast growing developing economy is experiencing burgeoning food and energy needs, and therefore, deeper ties with partners in the LAC region could prove to be mutually beneficial.

Several countries in the LAC region are agriculture powerhouses with large exportable surpluses. In fact, the region is often referred as another global breadbasket. The Global Harvest Initiative estimates that if the region maintains a Total Factor Productivity growth rate of 2.67 percent per year, food demand within the region can be met and exceeded by 2030, enabling it to vastly increase its contributions to global agricultural markets.The Commerce Minister said that Indian companies could form joint venture projects for cultivation of lentils, oil-seeds and food grains, which are crucial import items for India, providing win-win opportunities for our regions. Indian companies could also invest in in-situ storage to reduce produce-wastage. India could also share best practices and conduct joint research in sectors such as dairy farming, seeds and pulses.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

Leave a Reply

Your email address will not be published.

x

Check Also

Odia short film ‘The Healing Touch’ released.

Bhubaneswar:17/9/21:The 7-minute  short film Healing Touch’produced by  Social Image Production, Bhubaneswar was released today in a press met. Rajyasabha MP and actor Muna khan grace the event as chief Guest ...