Huge investment opportunities for ASEAN companies in India: MoS Commerce and Industry

Minister of State for Commerce and Industry CR Chaudhary on Friday said that companies from India and ASEAN countries can also form joint ventures for the purpose.

Published: 22nd February 2019 02:49 PM  |   Last Updated: 22nd February 2019 02:49 PM   |  A+A-

CR Chaudhary

Minister of State for Commerce and Industry CR Chaudhary. (Photo| Facebook/ CR Chaudhary)


NEW DELHI: There are huge opportunities for south east Asian companies to increase investments in India in areas such as medical devices, fishing and ship-building, Minister of State for Commerce and Industry CR Chaudhary said Friday.

To enhance economic cooperation between the two regions, companies from India and Association of south east Asian nations (ASEAN) can also form joint ventures and set up entities to start manufacturing here, he said, adding that increasing trade and investment is critical for both regions as each side hold huge potential India has relaxed several laws and regulations under its Make in India initiative to attract investments, he said here at the fourth India-ASEAN Expo and Summit 2019.

"I would like to request the ASEAN companies to enhance increasing cooperation in MSME sector. We can increase investments in various sectors like airlines, fishing and ship building. We need medical devices and apparatus, and ASEAN companies can get an opportunity in this area," he said.

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced. Although the bilateral trade between the regions have increased to USD 82.33 billion in 2017-18 from USD 21 billion in 2005-06, "the pace of growth is not up to the mark," he added.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp