Pranab Mukherjee invites Arab countries to invest in India

New Delhi, Apr 18 : External Affairs Minister Pranab Mukherjee today invited Arab countries to invest in India in fields like agriculture, energy, education and skill building among young generation.

Mukherjee's proposal was made at the India-Arab Investment Project conclave here.

He urged the Arab countries to take on challenges such as enhancing agricultural productivity, guaranteeing energy security and education, and underlined important micro-economic challenges facing India.

"India's primary aim is to increase yield and productivity in agriculture sector through appropriate technological input. We are exploring avenues for bilateral as well as multi-lateral cooperation with source countries to ensure guarantee of energy security," Mukherjee said.

"To sustain India's contribution to make available a global work force, investment is required in the field of education and skill building. India is taking all initiatives to encourage investment from capital rich countries for infrastructure projects in the country," he further said.

He said infrastructure alone would require an investment of over 500 billion dollars in the next five years, and therefore Arab countries have enormous opportunities for profitable ventures in IT, telecom, auto parts, health care, bio-tech, food processing, manufacturing, construction and banking services.

CEOs of over 100 companies from 13 Arab countries are participating in the two-day conclave. The investment minister of Sudan, Salman Sulieman Al Safi along with several of Arab League Ambassadors and delegates from Egypt and Saudi Arabia are here to discuss business at the conclave. It has been organised by the Indo-Arab Economic Forum (IAEF), a special initiative of Federation of Indian Chambers of Commerce and Industry (FICCI).

ANI