Institutional mechanisms on trade with Brazil,Chile,Mexico:India Inc

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New Delhi, May 11 (UNI) Unmindful of the negative media reports, President Pratibha Devisingh Patil has set in motion a slew of follow-up measures to ensure that the India Inc makes full use of the business proposals that emerged during her fortnight-long visit to Brazil, Mexico and Chile last month.

As part of such steps, President's Secretary Christy Fernandez held a meeting last week with the business delegation that had accompanied her on her first overseas visit.

At the meeting, the first of its kind at Rashtrapati Bhavan, Mr Fernandez asked the captains of industry to vigorously pursue the bilateral business proposals, particularly in the sectors of oil, civil aviation and health, to quickly increase the trade volume and improve other ties with these three South American nations, a Presidential aide told UNI today.

Ms Patil is the first President who took a business delegation as part of the entourage of the Head of State and introduced its members personally to her counterparts in these countries.

Among those who attended the meeting were Mr Apurv Kumar, Executive Director of Clarks Group of Hotels, Mr Prithivi Raj Dhariwal, CEO of Essar Steel Caribbean Ltd, Mr Rashid Khalid Kidwai, CEO of Grass Roots Trading Network for Women, and Dr K Srinivas Reddy, Executive Director of Maytas Minerals and Resources Ltd.

The business delegates informed the Secretary that they were in the process of setting up ''bilateral insitutional mechanisms'' with the industrial bodies in each of the three nations to bring to fruition the trade proposals mooted during her visit.

They assured her that they were in constant touch with their counterparts and the Indian missions to make use of all the business opportunities in various sectors that also included bio-fuels, tourism, chemicals and fertiliser, infrastructure, mining and social entrepreneurship.

The other captains of industry who attended the meeting were Ms Rama Raghu Iyer (NIIT), Mr Dinesh Chandra Sharma (Ruchi Soya Industries Ltd), Ms Reema Rameshchandra Nanavaty and Ms Mauna Krishnakant Dave (both from SEWA Trade Facilitation Centre) and Ms Charu Mathur and Ms Deepa Mehta (both CII).

India Inc signed several MoUs with its respective counterparts in Brazil, Mexico and Chile during the visit.

According to the President, countries like Brazil, India and South Africa should make their voices heard louder in the international arena, and their long-term objective should be to firm up cooperation on global issues like UN reforms and climate change and rapidly improve trade links between India and Latin American countries.

Strong ties between the fast growing economies could not only enhance the trade volume, but also their position in the world, she feels.

The aide said Ms Patil had chosen to ignore media reports that blew out of proportion trivial incidents that were the result of the internal political compulsions in these countries and had nothing to do with the importance these nations attached to her visit or their ties with India.

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