Union Minister Jitendra Singh speaking at India-ASEAN Business Summit in New Delhi on Monday. Photo/ANI
Union Minister Jitendra Singh speaking at India-ASEAN Business Summit in New Delhi on Monday. Photo/ANI

Collaboration with ASEAN key to achieving India's USD 5 trillion target: Jitendra Singh

ANI | Updated: Nov 11, 2019 17:41 IST

New Delhi [India], Nov 11 (ANI): Union Minister Jitendra Singh on Monday said that collaboration with ASEAN countries would play an important role in meeting the target of making India a USD 5 trillion economy, while the contribution of North-Eastern states in this respect can also not be underestimated.
Addressing the inaugural session of two-day India-ASEAN Business Summit here, Singh said that India will soon achieve the target of USD 5 trillion economy with the optimistic environment that has been created under the leadership of Prime Minister Narendra Modi.
The minister said that some of the breakthroughs made under the Prime Minister were never expected earlier.
He added that Modi has for long been reiterating the emphasis on closer and progressive collaboration with ASEAN countries and also focus on the development of North-Eastern region of India.
"This is important for business and trade development," Singh outlined.
The minister said the North East has unexplored potential, which needs to be tapped. He added that the new engine of the ASEAN collaboration has been spearheaded in the North-Eastern region.
Speaking on the occasion, Ambassador, Royal Thai Embassy and Chair of ASEAN region, Chutintorn Gongsakdi said: "We need to identify the opportunities available for us to do business in India."
The Ambassador emphasised upon connecting the connectivities including air, land and sea connectivity. He said that digital technology is an enabler of member economies and quoted examples of e-commerce regarding it.
The India- ASEAN Business Summit is based on the theme -- Today, Tomorrow, Together and is being organised to strengthen trade and investment flows with the ASEAN economies.
The objective of the conference is to enhance the trade trajectory between India and ASEAN nations to new highs.
Senior government officials from India and the ASEAN nations are interacting with the business community of India and ASEAN for the promotion of bilateral trade and investments.
The first day of the summit is having sessions on infrastructure and tourism sectors, IT/ITES, e-commerce and fintech and education and skill development, healthcare and pharmaceuticals, and agriculture and food processing.
On the second day of the summit, B2B meetings will be organised along with a session on 'Focus Vietnam - Growing Trade and Commerce between India and Vietnam.'
Over 60 delegates from 10 ASEAN countries and more than 200 delegates from India are participating in the summit. (ANI)