Minister of State (MoS) for Commerce and Industry’s statement on
ASEAN-India Business Council (AIBC)
19th AEM-India (ASEAN-India Economic Ministers) Consultation
16th September 2022, Siem Reap City, Cambodia
- I commend the work undertaken by AIBC in formulating its Report for the AEM-India Consultations 2022. India notes the recommendations presented by AIBC and appreciates the Council’s role in deepening economic engagement between India and ASEAN. The Council has been a key player in driving ASEAN-India business and investment connect.
- I note that the recommendations presented by AIBC include Review of AITIGA, facilitation of Investments, Non- tariff barriers, digital connectivity,infrastructure connectivity,greater collaboration in healthcare and pharmaceuticalssector, MSMEetc.
- The industry with the support of Government needs to work towards strengthening the supply chains and maintaining its resilience. Extending support to distressed MSMEs which constitute 70% of the India-ASEAN business to re-focus and re-energize is another key focus area.
- Business world has also migrated to different forms of virtual engagements with increased use of innovative digital platforms and applications. In this changed context, AIBC has a big role to play in bringing the priority sectors of Industry together for enhanced cooperation.
I reiterate Government of India’s support to AIBC and wish them success in all their endeavours.
Thank You.
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