(Trinidad Guardian) A delegation of Indian businessmen is in the country to pursue opportunities in T&T’s manufacturing, health, digital, agriculture and tourism sectors.
At a news conference to announce the investment mission from India, yesterday, Trade and Industry Minister Paula Gopee-Scoon said doing business with the country would be significant for T&T’s economy as India is projected to be the third largest economy in the world by 2029.
“As it is, the current Gross Domestic Product (GDP) of India stands at US$5 trillion. India is a key growth engine for the world, contributing 16 per cent to the global growth in 2023. The growth rate of India is 7.2 per cent, while most countries are growing below that. From fiscal 2022 to 2023, it was the second highest among the G20 countries. It shows the kind of strength the Indian businesses can bring to T&T,” said Gopee-Scoon.
She said four more investors with an interest in manufacturing and tourism are scheduled to arrive this week and the group of investors will also visit Tobago on Thursday.
Explaining why he decided to visit this country, Monish Behl, whose companies are Asia Plates Steel LLC & Gulf Metals Trading LLC, said when Prime Minister Dr Keith Rowley visited Mumbai last month, the businessman was impressed by his vision for T&T.
“There are a lot of other investors who would be visiting this country to explore the opportunities between the two countries. I have my steel, water, generating and media company, so I am very interested in T&T,” Behl said.
Potential investor Amit Sawhney, whose Nippon Global Group operates in India, Dubai and Europe, said his company covers food processing, automobile parts and aviation.
Sawhney said four investors from India met with Prime Minister Dr Keith Rowley yesterday, during which he outlined so many investment opportunities in T&T.
“I was thinking why we did not know this before. We control the IT sector; we are strong in aviation. So, India has a lot of skills and today I realise that T&T has a lot of scope,” Swaney disclosed.
And Anuj Gupta, of Atulaya HealthCare Pvt Ltd, said as it pertains to health, this sector cannot grow if it is not supported by the government.
“I have a lot of confidence after hearing the Prime Minister say he is very keen on making major changes for the benefit of this country. The health company is into diagnostics, which helps prevent diseases. We think we can do wonders in T&T with the support of the government,” Gupta added.
Last week Monday, Dr Rowley met with Naveen Jindal, chairman of Jindal Steel and Power, who is a potential buyer of the state-owned refinery in Pointe-a-Pierre.
A statement from the Office of the Prime Minister noted that Jindal Steel and Power is one of India’s leading business houses, with a substantial presence in steel, mining, power, and infrastructure.
The meeting between Jindal and the Prime Minister was brought up by the Joint Trade Union Movement (JTUM) president general, Ancel Roget, in his address to workers at the Charlie King Junction in La Brea on Labour Day.
Roget, who also leads the Oilfields Workers Trade Union (OWTU), told union members last Wednesday that the bidding process, which the OWTU was a part of, had been closed.
“But guess what, he is entertaining in the official residence an Indian businessman for the same refinery. I want to say this afternoon the OWTU will not stand idly by and allow anybody to walk in here and take over the refinery. So Indian businessman or not, whoever you may be, we must be a part of going forward in the operation of that refinery,” Roget warned.
On Sunday, Dr Rowley told the ruling People’s National Movement’s sports and family day that the Government hoped to be able to announce an operator of the refinery in August.
