Mr. Jyotiraditya Scindia, the Minister of State for Commerce and Industry is to lead a 25 member strong CII business delegation to Colombia, Venezuela and Cuba. The delegation will have strong focus on enhancing business and investment ties with these countries. This visit is expected to give the necessary impetus to bilateral trade and investment.
The multi sector profile of the delegation is reflective of the growing interest of India companies to venture into the emerging markets of the region and establish their business footsteps in LAC.
The Minister will also address a business seminar organized by the National Association of Industries, where more than 100 senior industry members from Colombia are expected to participate.
Indian delegates will be meeting with Venezuelan companies from Agriculture, infrastructure, oil & Gas, pharmaceuticals, automobiles and other multi sector companies in Caracas. An Investment seminar organized the Venezuelan Council for Investment Promotion (CONAPRI) will give the CII delegation the opportunity to understand the market.
Colombia is emerging as important focus country for Indian business. The total bilateral trade between India and Colombia during 2010-11 stood at US$ 1.4 bn, with India’s exports to Colombia amounting to US$ 0.55 bn and imports from Colombia amounting to US$ 0.85 bn.
The Minister will also unveil the bust of Gurudev Rabindranath Tagore and address the University of the Andes in Bagota.