NEW DELHI: A 25-member CII Business delegation is accompanying Minister of State for Commerce & industry Jyotiraditya Scindia, who is visiting Colombia, Venezuela and Cuba to enhance business relations.
The visit from July 6 -13 stresses on boosting business and investment relations with Colombia and the two other socialist nations.
The officials from the Ministry of Commerce is also accompanying the Minister. The business delegation consists of Larson & Toubro, Godrej, Mahindra & Mahindra, Emcure pharmaceuticals, Ennore Coke Ltd, Forbes Marshall, ONGC Videsh, Apollo International and Continental Devices Indian Ltd amongst others with interest ranging from manufacturing, agriculture, Oil & Gas, automobiles, pharma & Healthcare, Mining & Minerals.
The vastness of the delegation displays the rising interest of India Inc to foray into the developing nations and also to set up business.
In the past fews years, Colombia is becoming important country for Indian business. The bilateral trade between India and Colombia in FY11 was at $1.4 billion and India’s exports to Colombia stood at $ 0.55 bn and imports from Colombia was at $ 0.85 bn.
In Colombia, Scindia is slated to address a business seminar, which will be organised by the National Association of Industries. In Venezuela, he will be meeting the Commerce Minister, the Health Minister and Minister of Energy and Petroleum, apart from interacting with CEOs and senior representative of MNCs engaged in the oil and gas sector.