India-EU Summit to focus on four sectors

NEW DELHI: The Sixth India-EU Business Summit would focus on the four sectors of Indian industry that were expanding their global footprints through overseas investments as well as exports, according to the Confederation of Indian Industry (CII).

These sectors are Manufacturing, Information Technology, Pharmaceuticals and Biotechnology.

N Srinivasan, director general, CII told a press conference here that the summit is significant because it is the first in India to be held after the expansion of the EU and the signing of the India-EU Strategic Partnership.

The CII, the Federation of Indian Chambers of Commerce and Industry (FICCI), the Delegation of the European Commission (EC) and the Ministry of Commerce and Industry would jointly organize the summit here on September 7.

Dr Amit Mitra, secretary general, FICCI, said knowledge had become an important driver of the synergy between India and EU. However, there was a need to resolve certain issues such as the need for a protocol on transfer of genetic material to give biotechnology a boost."

Stefano Gatto, first counsellor (Trade and Economic Affairs), Delegation of EC, said the India-EU Summit provides a forum where businessmen from both sides can share problems and make recommendations.

"This summit follows a similar event in China. This is unprecedented as it indicates the European businessmen are equally interested in both India and China," he said.

Kamal Nath, minister for Commerce and Industry, Alan Johnson, secretary of state for Trade and Industry, UK, and Peter Mandelson, commissioner for External Trade, EU, would address the opening plenary.

The closing plenary would be addressed by Tony Blair, prime minister, Great Britain, and president of EU, Jose Manuel Baruso, president, European Commission and Dr Manmohan Singh, prime minister of India.