SME Times News Bureau | 13 Jan, 2021
(Economic Relations), Ministry of External Affairs, Rahul Chhabra, said
that after the India - Africa summit, the MEA had committed lines of credit of
USD 6.5 billion, USD 700 million of grants and over 50,000 scholarships to African
students that have already been given out.
Speaking at the curtain raiser
of Diplomacy Unplugged, a dialogue series between India and
partnering nations initiated by FICCI, Mr Chhabra said
that the Ministry of External Affairs (MEA) has been working on development
partnerships with various countries and has started various initiatives as well
as was continuing its human-centric globalisation and welfare program with
"We have been trying to
finalise migration and mobility agreements with partnering countries. This
pandemic threw up the issue of global shortage of trained manpower in various
sectors that the MEA has taken note of," said Chhabra.
have also started getting the states involved in our outreach in terms of
promoting exports and incoming foreign business delegation. Not just in terms
of cooperative federalism, we are also looking at competitive federalism,"
he further added.
MEA has enhanced the trade promotion budget along with promoting study in India
in various countries. "The MEA has been providing funding for trade fairs
and exhibitions and for number of targeted initiatives to Indian missions
across regions," said Chhabra.
Vincenzo de Luca, Ambassador of Italy to India said that we
are entering a new phase of relations between Italy and India after the
successful virtual bilateral summit between the Prime Ministers of the two
countries on November 5, 2020.
were able to finalise a number of agreements not only on G2G, but also with the
private sector. This only goes on to show how the two countries want to
transform their partnership to ideally benefit from their economic,
innovations and technological complementarity. The two countries also share a
global agenda," Ambassador de Luca added.
Further on the existing
relations between both the countries, Ambassador de Luca said
that the two countries signed many important agreements during the pandemic.
was also the first time that a new five-year plan of action had been decided to
deepen cooperation in the domain of culture, innovation and technology with the
Indian government. The comprehensive partnership between India and Italy helps
the companies to be more confident about investment in the two countries,"
We are experiencing a momentum
for a very important breakthrough relationship between both the countries after
a period of less intense dialogue. Over the last three years we have increased
the bilateral trade by 22 per cent. This is a remarkable progress, Ambassador
Uday Shankar, President, FICCI said, "The whole
world is trying to emerge economically, socially, and psychologically from the
over-arching impact of pandemic, it is important that we engage formally and
informally. The role of economic diplomacy assumes ever increasing importance
in the current scenario."
"Formal engagements and
interactions lead to desired outcomes only when they are strengthened by a
comprehensive and continuous, informal and unofficial engagement so that there
is a better understanding and a greater confidence building and mutual
appreciation, " Shankar emphasized.