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Centre extends help to increase Indian investments in Europe

New Delhi: Minister of State for External Affairs M J Akbar confirmed that India is confined to extend support to Indian industries' efforts to increase Indian investments in European countries.

Presenting the keynote address at the 4th India-Europe 29 Business Forum, organised by FICCI and the Ministry of External Affairs, M J Akbar said India is "assiduously furthering the global goal of shared prosperity."

He added, "the radical reforms that were introduced by the Government of India four years ago under the leadership of Prime Minister Narendra Modi have delivered robust results. Government programmes have contributed to the socio-economic transformation of the country, and interventions in the areas of micro-finance and housing have strengthened the participation of women in development endeavours."  

Emphasising the menace of terrorism intimidating global societies, the minister reiterated India and Europe's commitment to fight the war against terrorism and make the world a peaceful place to live in.

Meanwhile, FICCI Senior Vice President Sandip Somany in his welcome address opined that there is significant scope for increasing the India-Europe 29 bilateral trade flows that stood at USD 38 billion in 2016-17.

He added, "Cumulative bi-directional India-E29 investments of USD 16 billion in 13 years are minuscule when viewed against the unexplored opportunities for expanding bilateral trade flows. There is a need for strengthening India-E29 partnerships involving small and medium enterprises (SMEs)."

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