Mem­ber­ship of APEC will make In­dia an ac­tive global player

FICCI Business Digest - - Contents -

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.

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