India

India Has “Great Potential” for Trinidad

By: Caribbean Journal Staff - January 7, 2012

Above: Trinidad and Tobago Prime Minister Kamla Persad-Bissesar with Indian Prime Minister Manmohan Singh (Photo: India MEA)

By the Caribbean Journal staff

Partnering with India offers “great potential for the advancement of key sectors within Trinidad’s economy,” Prime Minister Kamla Persad-Bissessar said yesterday.

Persad-Bissessar, who is in India on a State Visit, was speaking to a conference of Indian business organizations at the Taj Mahal Hotel in Delhi.

The Prime Minister cited several major Indian businesses already operating in Trinidad, including the New India Assurance Company, the Arcelor Mittal Steel Plant and, more recently, Intercommercial Bank Limited and the Bank of Baroda.

“With our historic links and the excellent diplomatic and cultural ties long enjoyed between our two countries, my government believes that India is one of the emerging markets which offers Trinidad and Tobago the potential for technical cooperation and direct foreign investment, through public and private sector partnerships,” she said.

She said several areas were potential sources of growth — including fashion, film and animation, agricultural research, ICT content development, the maritime industry, green energy and science, education and medicine.

“Trinidad and Tobago is perfectly positioned as an investor location for Indian companies that are looking to serve the Caribbean and Latin America,” she said.

Indeed, a report by the United Nations’ Economic Commission for Latin America and the Caribbean identified India as a potential major economic partner for the region.

Trinidad recently extended a visa waiver facility to Indian citizens for a period of 90 days, a move aimed at enhancing and encouraging business and tourism between the two countries, she said.

Persad-Bissessar arrived in Delhi on Thursday.

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