Communication - Press

Huge Scope For Cooperation In Services Sector For India & Monaco: Prabhu

On Monday, 4 February 2019, Indo-French Chamber of Commerce & Industry in association with Monaco Economic Board (MEB) and FICCI, organized India-Monaco Business Forum in honor of H.S.H. Albert II, Prince of Monaco. 40 delegates from MEB discussed tourism and hospitality, private jets manufacturing, financial services with specific focus on banking and insurance and more.

Speakers of the forum include H.E Mr. Gilles Tonelli (Monaco's Minister of Foreign Affairs and Cooperation), Mr. Michel Dotta (Chairman of the Monaco Economic Board), Mr. Sandip Somany (President of FICCI), Mr. Manoj K. Bharti (Additonal Secretary, Economic Diplomacy & States, Ministry of External Affairs, Govt. of India) and Mr. Suresh Prabhu (Hon'ble Minister of Commerce & Industry and Civil Aviation, Govt. of India).

Mr. Suresh Prabhu stated that there is a huge scope exists between businesses of India and European country Monaco to boost cooperation in services sector and high-end technologies.

Prabhu also said that India and Monaco can jointly work together in developing technologies to mitigate environmental concerns.

"India has identified 12 champion services sectors and tremendous scope is there for increasing cooperation for both the countries," he said.

He was addressing businesses of both the countries at India Monaco Business Forum, in the presence of Albert II, Prince of Monaco.

These sectors include IT & ITeS, tourism, medical value travel, transport and logistics, accounting and finance, audio visual, legal, communication, environmental, financial and education.

He said that services sector are expected to contribute USD 3 trillion in the country's economy once the GDP reach USD 5 trillion in the coming years.

Speaking at the forum, Gilles Tonelli, Minister of Foreign Affairs and Cooperation, Monaco, highlighted the opportunities present in Monaco and invited Indian companies to capitalise on the safe and sound industry-oriented policies framed by them.

A partnership agreement was signed between industry chamber FICCI and Monaco Economic Board to strengthen the institutional relations between the countries for further increasing trade and economic relations.

Source : The Times Of India

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