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India’s foreign ministry to launch economic diplomacy portal to facilitate two-way economic engagement

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New Delhi: IndiaForeign Ministry will launch a website on Economic Diplomacy on Wednesday to provide a vast repository of resources on economic opportunities and news and facilitate two-way economic engagement.

Foreign Minister S. Jaishankar will launch MEA’s website on Economic Diplomacy
www.indbiz.gov.in to showcase India’s economic, sectoral, and State-wise strengths that make for an attractive economic partnership. The website is being developed and managed by the Economic Diplomacy Division of the Ministry of External Affairs.

It aims to provide critical and relevant information on major economic indicators, central and state government policy updates as well as the latest business news and trade data, sources said.

The website would also include information on global mineral resource endowments, opportunities for agricultural exports and employment abroad for Indian nationals and businesses. The economic and policy profiles of States and Union Territories along with the plethora of economic engagement opportunities they offer have been highlighted in extensive detail.

The website will serve as a two-way funnel connecting our nationals, businesses and the States globally for enhancing exports, exploring employment and attracting foreign industry and business to India, especially the States.

Through a specific focus on the Government of India’s Ease of Doing Business initiatives, policy reforms and incentives aimed at attracting foreign investment, the website positions a multidimensional and dynamic “Brand India” to the global business community.

Indian businesses seeking to conduct trade and investment overseas will be equipped with relevant guidelines as well as relevant contacts of Indian Missions/Posts. Indian Missions and Posts abroad can also access periodically updated business-related information on India aimed at important stakeholders in the Overseas Indian community as well as potential foreign investors.

The website will serve as a two-way funnel connecting interested investors to relevant agencies in India such as Agricultural and Processed Food Products Export Development Authority (APEDA) for agricultural exports from India, Indian Trade Portal for trade with India, and Invest India for inward investment respectively, sources informed.

Articles on a wide variety of topics including key economic and commercial developments and initiatives to enhance existing socio-economic infrastructure within the nation will be available on the website. This repository of material will provide information on the latest developments within the country as well as the opportunities for strengthening economic ties. It will offer a glimpse of India’s economic diplomacy.

In line with the vision of Prime Minister of doubling farmers’ incomes by 2022, the website highlights the opportunities for agricultural exports abroad. The Ministry of External Affairs, through its Missions and Posts, can play an important and facilitating role in providing inputs to APEDA, Ministry of Commerce and Industry and Ministry of Agriculture and Farmers’ Welfare for diversifying the markets and enhancing the incomes of Indian farmers through exports, sources explained.

In pursuit of the Prime Minister’s call for an Aatma Nirbhar Bharat, the Ministry of External Affairs has been working in collaboration with the Ministry of Commerce and Industry, Ministry of Tourism and other Line Ministries to promote the 3Ts- Trade, Tourism and Technology, into India. To this end, Indian Missions and Posts are being encouraged to focus on the various aspects of our economic and developmental priorities in their outreach efforts, according to sources.

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