(L to R) – Mr. S. Ramadorai, Honorary Consul of Uruguay & Former Vice Chairman, Tata Consultancy Services; H. E. Mr. Carlos Orlando Bonet, Ambassador of Uruguay to India; Mr. Adi Godrej, Past President, CII & Chairman, Godrej Group, Godrej Industries Ltd and Mr Kaushlendra Sinha, Regional .

Forever News Mumbai India is a big nation to move forward together – H. E. Mr. Carlos Orlando Bonet, Ambassador of Uruguay to India.

Tuesday, 11 August 2015 21:09

Uruguay offers competitive incentives to foreign investors to set up assembly units for exports to other South American countries mentioned by Mr. S. Ramadorai, Honorary Consul, Consulate of Uruguay & Former Vice Chairman, Tata Consultancy Services while speaking at an interaction organized by CII recently in Financial capital of India – in Mumbai with H E Mr Carlos E Orlando Bonet, Ambassador of Uruguay to India. “There is renewed global interest in India and the Indian economy and a renewed thrust on growth and development on the part of the new government. The government has demonstrated its resolve to provide an impetus to growth. This has revived the ‘feel good’ factor in the economy and has sent business confidence soaring”, added Mr. Ramadorai.

India has excellent engineers and so its companies are best in manufacturing and that is what makes “Make in India” mentioned by H E Mr Carlos E Orlando Bonet, Ambassador of Uruguay to India. “Uruguay’s favourable investment environment and good macroeconomic performance has positioned itself as a reliable and attractive destination for foreign investors”, added Mr. Bonet.

Uruguay has platform for any kind of business from agriculture to manufacturing and India is a big nation to move forward together, said Mr Bonet. He also mentioned about the economic growth which translated into higher growth in per capita GDP of US $ 10,000 in 2005 to almost US $ 17,000 in 2015 and will reach approximately US $ 20,000 in 2020.

In context to India – Uruguay relationship Mr. Ramadorai stated that the trade between the two countries has remained miniscule at 0.03% in 2014-15. The trade, which exists, is largely in items such as chemicals, vehicles, automobiles and auto-parts, sound and image devices, pharma, garments, iron & steel, machinery and equipment, synthetic fibers, etc. from India and wool, leather and wood from Uruguay. Given that Uruguay has the highest penetration in Latin America, bordering the two largest countries – Brazil and Argentina, as well as the landlocked country Paraguay; Uruguay provides easy accessibility to the hinterlands in the region, which can highly benefit Indian companies, added Mr. Ramadorai.