India’s friendly gesture to Costa Rica as ‘Significant Partner’, VP Naidu calls for deeper engagement in India-Costa Rica Business Forum
San Jose, Mar 8: India is expanding her bilateral relations all over the world. As one of the fastest growing country, India places itself in a substantial position in the international platform. In the enhancing to the connect with Latin America, Vice President Venkaiah Naidu is on the official visit of Paraguay and Costa Rica. The first VVIP visit from India has given new momentum to bilateral relations to Costa Rica.
After a successful visit to Paraguay, VP Naidu plans for the next leg of the two-country visit to Costa Rica. In his 1st engagement in Costa Rica, VP Naidu addressed India-Costa Rica Business Forum. In this address, he emphasized cooperation in innovative technologies, biotech, Agriculture and renewable energy among others.
While addressing the forum, VP Naidu said, “Costa Rica, a peaceful and prosperous nation, with its prominent economic standing, political stability and democratic credentials, and India with its strong growth and technological prowess can be significant partners, both from the political and commercial point of view”.
VP Naidu addressed the increasing power prowess of India and her achievements in different fields. He stated India has made significant progress in various fields, especially in those pertaining to high engineering skills and science and technology. With a GDP of US 2.6 trillion dollars, India is today the sixth largest economy in the world, which is growing every year at the robust rate of 7.5%. In 2008, India became the fourth country in the world to send a vehicle to the Moon in the very first attempt – that too at an economical cost of US$60 million. India today manufactures everything from satellites, light combat aircraft, missiles, cars, and other major high technology industrial products.
Further, he added, Although we have an immense population of more than 1330 million, our huge human capital is a national asset, as unlike many other economies, India has one of the youngest populations in the whole world. We also have the third largest pool of technical manpower and experts in the world. All these aspects, coupled with our immense middle-class market of 300-350 million persons, institutionalized economic and financial processes fostered under stable democratic governance systems - which are subject to critical review by an independent judiciary and a free and investigative media - position India as a unique destination for International Trade and Business.
While discussing the bilateral opportunities between India and Costa Rica, Naidu expressed, “There is a lot of untapped potential and scope for our economic engagement to grow. Costa Rica has been participating in the India-LAC Conclaves held enabling the businessmen on the two sides to explore areas of mutual interest”. He also said, “Both our countries share close business ties. Indian IT companies such as Infosys, Wipro, L&T Infotech, WNS, and others are present here and others such as Bajaj Auto and Gravity also have business ties with Costa Rica. ‘However, there is ample scope for intensifying such ties for mutual benefit’ ”.
Naidu positively articulated about the new expanse of India and Costa Rica relations. He said, “While the immense geographical distance had been a challenge earlier with some constraints in deepening ongoing bilateral engagement, the seamless connectivity made possible by digital communications and globalization in recent decades, throws up new and excellent opportunities for both countries to intensify ongoing business ties. We can together work on critical and innovative technologies of mutual interest in areas such as Pharmaceuticals and Biotechnology, Digital Sciences and telecommunications, Agriculture and Food Processing, Renewable Energy, Space Research and Climate Change”.
In conclusion, Naidu stressed the potential deeper engagement and stated, ”. Our business, academic and science & technology communities in both countries should engage more deeply with each other. The more the people to people linkages, the better would they serve the shared goal of enhanced trade, economic and scientific cooperation. Towards this goal, India already extends eVisa facility to Costa Rican nationals”.
