Membership of APEC will make India an active global player
Ambassador Anil Wadhwa, Secretary (East), Ministry of External Affairs, Government of India, released the report 'APEC and India: An Appraisal' by Ambassador V. S. Seshadri, Vice Chairman, Research and Information System for Developing Countries (RIS) at a launch function organised jointly by FICCI, RIS and ASEAN-India Centre in New Delhi on May 21, 2015.
Ambassador Wadhwa said that as India undertakes further progress is quite comparable to those of APEC developing countries. India has also undertaken reforms in customs procedures whereby procedures have been simplified and the economic reforms and sets the next generation of the liberalisation process in motion, there is a golden opportunity for India and economic forums such as Asia-Pacific Economic Cooperation (APEC) to benefit from deeper engagement. There is today a significant and identifiable convergence of interest and aspirations between India and APEC member economies. India's 'Act East Policy' envisions increased cooperation in trade, investment, infrastructure development, transparency standards are more or less comparable to several APEC economies.
Ambassador Wadhwa said other benefits of a formal engagement connectivity, capacity building and strengthening people-to-people contacts in the region, goals which are shared by APEC too.
He stated that there are specific sectors in which India has already launched several liberalisation initiatives, for example, in the services sector, particularly in insurance, air and rail transport, and construction services. Another potential area of cooperation between India and APEC is government procurement and competition, where India's between India and APEC would include reduction in transaction costs of doing business as well as greater harmonisation and mutual recognition of standards, professional qualifications and
L to R: Sidharth Birla, Immediate Past President, FICCI; Ambassador Anil Wadhwa, Secretary (East), Ministry of External Affairs; Ambassador Shyam Saran, Chairman, Research and Information System for Developing Countries and Ambassador V. S. Seshadri, Vice Chairman, Research and Information System for Developing Countries.