Thaindian News

New Delhi, Oct 5 (IANS) India Tuesday called for increased engagement among Commonwealth member countries, especially in agriculture and infrastructure sectors, to boost trade and investment.

“There is huge potential to increase trade and investment among the Commonwealth countries. There are enormous opportunities in sectors like agriculture, infrastructure, modern technology and manufacturing,” said Minister of State for Agriculture and Consumer Affairs K. V. Thomas at the Commonwealth Business Forum organised by the Confederation of Indian Industry.

He asked investors from the Commonwealth countries to increase their investment in India, especially in agriculture and infrastructure sectors.

Total trade among the 71-nation Commonwealth grouping is estimated at around $4 trillion. India’s trade with the Commonwealth member countries is less than $100 billion, said Rahul Bajaj, past chairman of Commonwealth Business Council.

“There is huge potential for India to increase its trade with Commonwealth member countries,” said Bajaj.

Thomas said the Commonwealth Games had a remarkable impact on infrastructure of the national capital. Up-gradation of infrastructure and sports facilities in Delhi require an investment of over $10 billion.

He also said the Games was likely to create nearly 2.5 million jobs in the next few years and would substantially boost economic growth.

“We will be gaining from this event for many years to come. It is expected to create 2.5 million jobs over the next few years. Its economic impact is estimated to be nearly $5 billion.”