S Jaishankar, the Minister of External Affairs for India and Latin America, presented the keynote address at the India-Panama Business event, stressing ten crucial reasons why India-Panama business collaboration has strong prospects and merits-focused endeavours.
Our global presence is growing fast as the 5th largest economy. Transformation in manufacturing, infrastructure, innovation and startup culture within India are game changers, he said.
India-Latin America trade has a diverse basket, with a close-knit market. Significant increase in investments and interest in mining, energy, agro and infrastructure sectors will power it further, he said at the event.
The Minister of External Affairs is in Latin America on a two-day trip. He arrived in Panama City on Monday for a two-day visit.
In his speech, Jaishankar said that the long-awaited reforms in India have resulted in record exports. Latin America is an attractive market, he said.
The minister also mentioned, Providing vaccines to 100 countries and medicines to 150, India's proposal as pharmacy of the world is welcomed by all. Jaishankar said that a robust digital backbone in India enables the delivery of public goods and tools for business.
Manufacturing pickup via Production Linked Incentives and support to vendor chains and MSMEs. The minister emphasised that India's products are a natural fit for Latin American middle class.
The scope of Indian project execution has broadened to encompass various geographies. India's products and services are becoming reality worldwide, as they are made in India and delivered by India. India's agriculture is making substantial improvements in yields, quality, and technology. This has external implications, the EAM said.
Jaishankar added that Indian talent and skills consider the world as a workplace today. Skill India, Startup India and New Education Policy are among the initiatives that are part of the mosaic.
In addition, the EAM also held a joint press briefing with Panama's foreign minister, Janaina Tewaney. Jaishankar said that it is very difficult for us to engage with a neighbour who practices cross-border terrorism against us. We still hope that one day we will reach that stage.