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Portugal eyes investments in India to enhance relationship

Portugal eyes investments in India to enhance relationship

LISBON: “The areas of cooperation between India and Portugal would be explored in sectors like information and communication technologies, olive oil, cork, and tourism.

As of today, the trade between India and Portugal is hardly 800 million dollars, which has a great potential to double in the next two years, if the opportunities are properly explored,” said H.E. Mr. Joao da Camara, Ambassador of Portugal, while interacting with officials of World Trade Centre (WTC) Mumbai on February 1, 2016. Mr. Kamal Morarka, Chairman, WTC Mumbai, Capt. Somesh Batra, Vice Chairman, Mr. Sharad Upasani, Vice Chairman, Mr. Vijay Kalantri, Vice Chairman of the WTC welcomed the Ambassador of Portugal to Mumbai.

Others present on the occasion were Mrs. Rawuel da Camara, wife of the Ambassador, Mr. Rui Baceira, Consul General of Portugal in Goa, Joao Rodrigues – Economic Counselor, Embassy of New Delhi accompanied the Ambassador during his visit. Mr. Camara further said that the next edition of the Web Summit would be held in Lisbon in the month of November, 2016.

In this Summit, more than 50,000 delegates from across the globe, specifically, over 500 companies from India are expected to participate.  Mr. Camara requested WTC Mumbai to lead a delegation to this Summit.

While recollecting his successful experience in Brazil, Mr. Camara assured that he would take similar efforts to promote the investment of Portugal companies in India. Mr. Kamal Morarka, Chairman, WTC Mumbai while welcoming the Ambassador said, “our slogan of WTC Mumbai is “To Grow Trade” as the Indian economy is growing at 7.2%. In order to support this growth, the Indian Government is taking various initiatives like “Make In India”, improving the ease of doing business.

The Indian Government welcomes foreign investment in the sectors like infrastructure, defense.  Mr. Morarka added that WTC Mumbai will be more than happy to facilitate trade cooperation between India and Portugal.