 "Source: AIR Twitter handle")
Seven states pitched themselves as mega investment destinations at the inaugural BRICS trade fair on Wednesday.
The governments of Goa, Gujarat, Haryana, Jharkhand, Punjab, Telangana and Uttar Pradesh showcased their current and upcoming infrastructure, beside industrial projects, to visiting investors from the four visiting BRICS nations (Brazil, Russia, China, South Africa).
The trade fair, on till Friday, is organised by the Federation of Indian Chambers of Commerce and Industry, in association with the commerce and industry ministry. Various states aim to leverage on this, to pull in investment.
While foreign investors are focused on where there is ease of doing business, infrastructure such as good roads and uninterrupted power supply are also in high demand, said an official from Jharkhand.
Investors have inquired about stalled infrastructural projects in some states and seem wary of putting money where ancillary infra has to be developed, added an official from Gujarat.
As of Wednesday, Telangana topped states' ranking on implementation of ease of doing business reforms, followed by Andhra Pradesh, Gujarat and Jharkhand. On Thursday, the fair is to host trade ministers of the five BRICS countries, for deliberations on trade and investment issues. They meet when global growth in trade has significantly slowed, in both volume and value terms. While low commodity prices are expected to rise by the end of the year, persistent slowing in Chinese economic and industrial growth is expected to make a recovery slow.
Global trade is expected to grow at its slowest pace in 2016 since the 2009 financial crisis gripped the world, the World Trade Organization said last week.
It revised its estimate downwards for the third time since last September, down to 1.7 per cent from 3.9 per cent earlier. Government officials here say an important framework to enhance intra-BRICS economic cooperation will be brought into force. The five ministers will also select a template for single- window cooperation, to boost trade in services.
A possible framework for cooperation in the areas of small and medium enterprises, services, intellectual property rights (IPR), trade promotion, non-tariff measures' resolution and adoption of uniform standards is on the cards, a commerce ministry official said, under condition of anonymity.
Later this week, the 8th BRICS Summit is to begin, on Saturday in Goa. The five countries are home to 42 per cent of the world’s population, the share in global gross domestic product (GDP) being 30 per cent. Combined GDP of the five rose from $10 trillion in 2001 to $32.5 trillion in 2014.
The governments of Goa, Gujarat, Haryana, Jharkhand, Punjab, Telangana and Uttar Pradesh showcased their current and upcoming infrastructure, beside industrial projects, to visiting investors from the four visiting BRICS nations (Brazil, Russia, China, South Africa).
The trade fair, on till Friday, is organised by the Federation of Indian Chambers of Commerce and Industry, in association with the commerce and industry ministry. Various states aim to leverage on this, to pull in investment.
While foreign investors are focused on where there is ease of doing business, infrastructure such as good roads and uninterrupted power supply are also in high demand, said an official from Jharkhand.
Investors have inquired about stalled infrastructural projects in some states and seem wary of putting money where ancillary infra has to be developed, added an official from Gujarat.
As of Wednesday, Telangana topped states' ranking on implementation of ease of doing business reforms, followed by Andhra Pradesh, Gujarat and Jharkhand. On Thursday, the fair is to host trade ministers of the five BRICS countries, for deliberations on trade and investment issues. They meet when global growth in trade has significantly slowed, in both volume and value terms. While low commodity prices are expected to rise by the end of the year, persistent slowing in Chinese economic and industrial growth is expected to make a recovery slow.
Global trade is expected to grow at its slowest pace in 2016 since the 2009 financial crisis gripped the world, the World Trade Organization said last week.
| STATES PROFFER PLUSES TO ATTRACT INVESTMENT |
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It revised its estimate downwards for the third time since last September, down to 1.7 per cent from 3.9 per cent earlier. Government officials here say an important framework to enhance intra-BRICS economic cooperation will be brought into force. The five ministers will also select a template for single- window cooperation, to boost trade in services.
A possible framework for cooperation in the areas of small and medium enterprises, services, intellectual property rights (IPR), trade promotion, non-tariff measures' resolution and adoption of uniform standards is on the cards, a commerce ministry official said, under condition of anonymity.
Later this week, the 8th BRICS Summit is to begin, on Saturday in Goa. The five countries are home to 42 per cent of the world’s population, the share in global gross domestic product (GDP) being 30 per cent. Combined GDP of the five rose from $10 trillion in 2001 to $32.5 trillion in 2014.
