HIGH COMMISSION OF INDIA

PORT OF SPAIN

India Business Meet on “Trade and Investment Opportunities between India and T & T” - A report

The High Commission of India in collaboration with the Greater San Fernando Area Chamber of Commerce (GSFACC) organised a Business Meet with on the theme “Trade and Investment Opportunities between India and T & T” on Saturday 11th December, 2021 in San Fernando.

2. His Excellency Mr. Arun Kumar Sahu, High Commissioner of India to T &T delivered the key note address, followed by remarks from His Worship Mr. Junia Regrello, Mayor of San Fernando and Mr. Kiran Singh, President of Greater San Fernando Area Chamber of Commerce. Mr. N. Lingi Chetty, Second Secretary, (Commerce), Mr. Azad Singh, Second Secretary (Consular & Projects) & HOC and Mrs. Ramya Ajay, Director of Mahatma Gandhi Institute for Cultural Cooperation also made presentations at the event. Mr. Hansley Ajodha, Secretary of GSFAA conducted the event.

3. Addressing the gathering, His Excellency Mr. Arun Kumar Sahu, High Commissioner of India to Trinidad and Tobago began by saying that this is a critical time of economic rebuilding as nations are trying to emerge out of the COVID-19 global pandemic. Events like this will contribute immensely to India, Trinidad, and Tobago reestablish old business connections and work on new ones. The pandemic has posed grave challenges to all economies big and small. Securing Life and livelihood have become the core challenges of global management. He further said that the pandemic has taught us two important lessons, viz. a) We live in an interconnected world and we are safe if all of us across the globe are safe, and b) National solutions alone cannot mitigate global problems. He highlighted the fact that India has provided grant assistance of USD 1 million to T&T under the UN-India partnership fund to implement covid related health projects. High Commissioner also identified key focus sectors for mutual economic cooperation such as (i) IT & ITES (ii) Pharmaceuticals (iii) Agriculture & Agro-Biotechnology including Spices Cocoa and Coconut (iv) New Energy, especially Wind and Solar (v) Oil Exploration and Mining (vi) Tourism including Medical Tourism (vii) Textiles and Garments (viii) Automobile & Electrical Machinery (ix) Ayurveda, traditional medicine & Wellness (x) Fashion wear and Ethnic wear and (xi) Films, Music and Entertainment. High Commissioner mentioned that there are opportunities for industry diversification and investment in IT & ITES, agro-processing and new energy especially wind and solar power. Another key point he mentioned is about the need for putting up institutional mechanisms. He said all Indian ambassadors in the region are constantly working to put up the necessary institutional mechanisms to facilitate any joint ventures where there are convergence of interests. He said that "money attracts money and the job of embassy is to disseminate information about opportunities available in trade, investment, and economic diversification and that this event will contribute immensely in this process."

4. His Worship Mr. Junia Regrello, Mayor of San Fernando delivered greetings at the event. Mr. Regrello spoke about many business opportunities available in San Fernando and grateful for the High Commission of India for organizing this event to sensitize that San Fernando is open for Indian investments as well as is willing to work with the High Commissioner’s office in fostering closer ties with India.

5. Mr. Kiran Singh, President of the Greater San Fernando Area Chamber of Commerce delivered remarks at the event. Mr. Singh spoke about the growing business opportunities in San Fernando despite challenges faced by the Pandemic. He assured that business members are open for business and investments from India and thanked the High Commissioner for taking the initiative to inform business members of the many business opportunities that India has to offer to his business members.

6. The event had a presentation by Mr. N. Lingi Chetty, Second Secretary (Commerce). Mr. Chetty gave a detailed and informative presentation on the present state of India’s economy, its recent achievements and liberalised economic reforms for ease of doing business. He also gave a statistical analysis of trade between India and T & T and mentioned that there is a lot of scope for doing more business with India. As a matter of fact, he said despite the challenges faced by the pandemic there is a great potential for enhanced trade and investment in the ten key focus sectors as highlighted by the High Commissioner in his key address.

7. Mr. Azad Singh, Second Secretary (Consular & Projects) also delivered a presentation on consular matters. He spoke of the many consular services offered by the High Commission including procedure for obtaining Overseas Citizen of India (OCI) Card and the benefits it offer. He also mentioned about the simple steps in applying for Indian VISA through online procedure available through Mission’s website and reiterated that anyone wishes to find out more about the VISA requirements can feel free to contact the consular section officers of the High Commission of India who would be more than happy assist the interested applicants.

8. The event also had a presentation by Mrs. Ramya Ajay, Director of the Mahatma Gandhi Institute for Cultural Cooperation. Mrs. Ajay spoke about newly built MGICC complex which is open to public for classes in tabla, dance, vocal, harmonium etc. She said this facility have hosted many cultural events and will continue to promote Indian culture in T & T and opportunities for the people in T & T. Also, she mentioned about the scholarships offered under ICCR and encouraged those who are interested to contact the High Commission of India and MGICC for more information.

9. The event had a vibrant Questions and Answers segment. The event ended with a vote of thanks by Mr. Deo Ramdass, from the Greater San Fernando Chamber of Commerce.

Port of Spain

11.12.2021