SME Times News Bureau | 15 Jan, 2020
Organisation (SCO) Secretary General Vladimir Norov on Monday said that the member countries of SCO should cooperate in
developing e-commerce in the region as it
is rapidly growing and changing the structure of world economy.
at an industry interaction, 'Enhancing Indian Industry's Engagement
with SCO' organised by FICCI, Norov said,
"The time has come for purposeful and active action for development of
e-commerce in our countries."
"Given that India is one of the driving
forces behind the development of digitalisation and electronic commerce, we
believe it is important that India actively participates in promoting
e-commerce among the SCO countries," he said.
Norov said that e-commerce provides
opportunities for companies to expand their markets, scale up their businesses,
reduce transaction cost through economies of scale and more efficient use of
capital, as well as to create new jobs.
Further, he said that globalisation process
despite the rise of some restrictive trade practices has opened up great
opportunities for the growth of developing countries and SCO can play a key
role in facilitating and boosting international trade.
"India's accession to SCO as a
full-fledged member has opened up new opportunities for further development and
deepening of full-scale cooperation. This will be beneficial to India and other
SCO members states," he added.
Vikas Swarup, Secretary West, Ministry of External
Affairs, Government of India, said that the SCO has emerged as a key regional
organisation in the Eurasian space in the past two decades accounting for 40
per cent of the world?s population.
Identifying areas of potential cooperation in
the region as pharmaceutical, health, hospitality, renewable energy, education,
culture, infrastructure, energy and disaster management, Swarup said,
"India has emerged as an attractive destination for medical tourism."
Shiv Vikram Khemka, Chair, National Chapter of India at SCO
Business Council, talked about increasing cultural connectivity among the SCO
nations by engaging the youth of the member countries in areas like art, literature,
music and movies. He also said that economic collaboration is the foundation of
FICCI President Sangita Reddy said
that SCO is one of the most significant collaborations for India and that
India?s full membership to SCO will provide immense economic opportunities for
India and other member countries.
"India is one of the largest consumer
markets in the world with a rising middle class population and a sizeable young
workforce," she added.
highlighted India’s progress in healthcare sector where quality medical
treatment is available at one-tenth of global prices.