Piyush Goyal proposes working group to promote tourism between India and Mediterranean countries

New Delhi (India), September 6 (ANI): Commerce and Industry Minister Piyush Goyal on Friday suggested that the government should set up a working group on tourism between the Mediterranean countries and India as there is huge potential for cooperation and mutual benefits there.

Addressing the India-Mediterranean Business Conclave 2024 organised by the Confederation of Indian Industry (CII) in New Delhi today, Goyal said India is a big market for goods and services from the Mediterranean region, given the close ties that the two nations have enjoyed over the decades.

Goyal said India and the Mediterranean countries share a huge common interest in the shipping sector, be it shipbuilding, ownership, maritime sector or cruise business. He added that the Centre sees a huge opportunity in developing ports and has doubled the port capacity in the last decade. We hope to double the port capacity in the next five years, the Union Minister added.

The Minister also said he was optimistic about the India-Mediterranean partnership and would work for the economic prosperity and mutual growth of the Mediterranean countries and India to ensure a cleaner, sustainable, more resilient, secure, inclusive and brighter future for all.

He said the India-Middle East-Europe Economic Corridor (IMEC) is an important initiative that can enhance India’s maritime security and speed up the flow of goods between Europe and Asia.

Goyal said the IMEC was formed during India’s presidency of the G20 and aims to integrate India, Europe and the Middle East through the United Arab Emirates, Saudi Arabia, Jordan, Israel and the European Union.

He noted that lower logistics costs, faster connectivity and the safe flow of goods depend on better cooperation in this area.

Going further, the minister noted that initiatives like the PLI scheme, the Centre’s efforts towards Ease of Doing Business (EoDB) through free trade agreements and economic partnerships have boosted the growth of India’s manufacturing sector and the country’s efforts to promote agricultural value chains can support initiatives between India and Mediterranean countries.

Goyal added that India is one of the fastest growing economies with a young demographic and that it will drive global growth for decades to come. India is expected to become the third largest economy in the next few years, he said. The minister further noted that India has launched Make in India and digitalisation of the economy initiatives and has initiated holistic measures to improve the ease of doing business in India.

Areas like renewable energy, manufacturing, marine and blue economy, digitalization, pharmaceuticals, information technology, agriculture and tourism have huge potential in the country and investors have an opportunity to be a part of this growth story. (ANI)