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FICCI to be nodal agency for diaspora business associations

By Our Special Correspondent

NEW DELHI, JAN. 10. Fifteen business associations and chambers of commerce pursuing interests of the Indian Diaspora today signed an MoU with a view to formalising the global network of PIOs and NRIs, and connect the business hubs within the Diaspora.

This significant move is a step towards conferring competitive advantages on Diaspora and India and also enhance Diaspora presence in the global market. To this effect, the Federation of Indian Chambers of Commerce and Industry will serve as the Secretariat for this cooperation.

As part of the understanding, the `Diaspora Business Associations' (signatories of the MoU) have agreed to exchange information on critical areas such as general economic environment, government policies in relation to investments and sectoral strengths of the respective regions.

The members will also facilitate trade and investment flows and promote other related exchanges between their respective representative enterprises.

The MoU was signed by Y. K. Modi, President, FICCI; Arunachalam, Chairman, the Indian Chamber of Commerce, Hong Kong; Ashook Ramsaran and Vishnu Bisram from the Caribbean Business Council, U.S.; Pradeep Sood, President, India Canada Chamber of Commerce; R. L. Lakhina, Executive President, the Netherlands India Chamber of Commerce and Trade; Karan Bilimoria, Vice-Chairman, Asian Business Association, London Chamber of Commerce and Industry and President, UK Zoroastrian Chamber of Commerce, U.K.; Ismail Hukkawala, President, Indian Business & Professional Council, Dubai; Dadi Mistry, Regional Director, World Zoroastrian Chamber of Commerce, India; Harindar Singh, Member, Small Business Advisory Council to the President, U.S.; Nadadur Vardhan from the Indo American Business Promotion Council, U.S.; Dhundev Bauhadoor, President, GOPIO, Mauritius; Denison Jayasooria, Executive Director, Social Strategic Foundation, Malaysia and Vidya Nand Singh, President, Bihar Chamber of Commerce in America, U.S.

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