ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504,

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

Commerce Minister emphasize on the potential of India-Monaco Business 

SME Times , Feb 05, 2019

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, said that there is vast scope for cooperation between India and Monaco in several sectors including tourism. Addressing the Indo-Monaco Business Forum, Suresh Prabhu said, the list of sectors for cooperation is endless starting from fin-tech, financial services and banking to tourism and healthcare services and the opportunities are innumerable. The evolving global economic challenges of today are also creating opportunities for the two countries to re-align and widen their economic engagements, deepen their existing cooperation to re-shape things and benefit. He said that the two nations can also cooperate in climate change, with the use of high-end technology to mitigate the ill effects.

The Commerce Minister said that drawn by the beauty of its setting, Monaco is considered a hub of emerging opportunity for thetourism industry. He said that tourism has very strong prospects with Indian tourists looking for leisure and adventure in Monaco. Collaborative work with Indian counterparts can be initiated in the field of chemicals and petrochemicals as well as in the production of plastics and electronics, the Minister added.

Suresh Prabhu informed that India is poised to become a USD5 trillion economy by 2025 of which 3 trillion will be generated from the services sector. He said that in order to achieve this target 12 champion sectors have been identified. Monaco’s free-market economy increasingly driven by its industry and service sectors, backed by one of the highest per capita incomes in the world and investors friendly policies, are further supporting its credentials as an ideal business and investment destination for Indian companies. Monaco’s emerging opportunities further complement India’s most promising sectors, with expanding space for investment in a range of services and skills.

Bilateral trade between India and Monaco in 2017-18 was USD 3.01 million, and there is immense potential to scale up the bilateral trade between the two nations. Monaco is ranked 106th among foreign direct investor in India (since April 2000 to June 2018) with USD 2.51 million FDI equity inflow.



Also Read

India & Monaco need to collaborate in developing hi-end technologies to address environmental issues- Suresh Prabhu

Actress Grace Kelly's son Prince Albert II of Monaco on India visit     

Actress Grace Kelly's son Prince Albert II of Monaco on India visit     

Suresh Prabhu: Huge scope between businesses of India, Monaco     

India, Monaco need to collaborate to address environmental issues: Prabhu     

Actress Grace Kelly's son Prince Albert II of Monaco on India visit     

Monaco's Prince Albert II in India to strengthen bilateral relations     

Actress Grace Kelly's son Prince Albert II of Monaco on India visit     

India Monaco resolve to fight climate change step up trade and investment     

PM Modi holds talks with Monaco’s Prince Albert II, discusses combating climate change     

India, Monaco resolve to fight climate change, step up trade and investment     

Huge scope for cooperation in services sector for India and Monaco: Prabhu     

India-Monaco Business Forum Held in New Delhi     

Climate change, renewable energy priorities in India-Monaco ties: President     


 India Monaco Business Forum