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Booming Indian economy offers scope for Indo-Arab JVs:Ahamed

Written by: Staff
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Khartoum, Sudan, Mar 28 (UNI) Acknowledging the ''great complementarities'' between the economies of India and the Arab nations, Minister of State for External Affairs E Ahamed today called for stepping up trade and investments and setting up joint ventures.

Indian entrepreneurs hope to invest more in Indo-Arab joint ventures in sectors such as IT, steel, higher education, health, infrastructure, power, energy, shipping, air services, tourism, petro-chemicals and manufacturing sectors, Mr Ahamed said in his address at the 18th summit of League of Arab States here.

Pointing out that the Arab nations were an important source of energy and an important market for Indian goods, the Minister said about 4.5 million Indians living in these countries contributed to their economies, including the Gulf.

''We encourage Arab nations to take advantage of the booming Indian economy and direct their investments to India. The Arab World and India linked by the Arabian Sea are thus very much part of each other's strategic neighbourhood,'' he said.

UNI XC/SN LR HT1918

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