Date:30/01/2008 URL: http://www.thehindu.com/2008/01/30/stories/2008013059410400.htm

Karnataka - Bangalore

ASEAN countries beckon Indian investors

Special Correspondent

Trade representatives from Thailand, Malaysia, Singapore and Indonesia attended

EEPC organised a one-day seminar in Bangalore
Australia, New Zealand were also represented

BANGALORE: Officials from countries that are part of the Association of South East Asian Nations (ASEAN), New Zealand and Australia have urged Indian investors to set up businesses and manufacturing units in their regions. The investment environment has never been better for Indian investors considering that India is slated to become one of the world’s growth centres, according to them.

The invitation was made at a one-day seminar organised by the Engineering Export Promotion Council (EEPC) here on Tuesday. Trade facilitators and commissioners of foreign trade from the ASEAN countries Thailand, Malaysia, Singapore and Indonesia participated.

‘Major player’

Inaugurating the seminar, Australian Consul-General and Trade Commissioner Aminur Rahman said India was going to be a major player in the global trade and manufacturing sectors. ASEAN, New Zealand and Australia together constituted a new region for trade and manufacturing, he said.

Stating that 79 per cent of Australia’s GDP came from the service sector, Mr. Rahman said India had ample opportunities for investment in that sector. Australia was also looking for investments in manufacturing.

The socio-economic and political atmosphere in Australia was stable for investors, and the country offered many trade- and industry-related concessions and tax holidays. Australian industries, particularly in aviation and automobile manufacturing, were looking at investments in India.

Deputy Consul-General of Thailand Paitoon Songkaeo outlined the opportunities in his country. He said that Thailand had fully recovered from the 1997-98 Asian financial crisis. Indian investments would be welcome in the tourism and manufacturing sectors, he said.

Trade Commissioners from Indonesia, Malaysia and Singapore also said that Indian investments in would be welcomed by their governments.

Regional Chairman of the EEPC B. Chandrashekaran welcomed the gathering and said the EEPC was scouting for opportunities globally for Indian entrepreneurs.