India's Economic Diplomacy website launched

The External Affairs Minister S Jaishankar launched the Ministry's Economic Diplomacy website on December 16, 2020. The website aims to showcase India's economic strengths as well as sectoral and state-wise strengths.

Jaishankar said that the website will serve as a two-way funnel connecting our national and state businesses globally to enhance exports, explore employment opportunities and at the same time attracting foreign industry and business to India. 

EAM @DrSJaishankar launches the Economic Diplomacy Website.
The website will showcase India’s economic, sectoral, and State-wise strengths that make for an attractive economic partnership.
Watch here: https://t.co/NaxYNQsLlS

— Anurag Srivastava (@MEAIndia) December 16, 2020

Key Highlights

•The website includes information on global mineral resources and governments, opportunities for agricultural exports and employment abroad for Indian nationals and businesses. 

•It has also highlighted the economic and policy profiles of the states and union territories along with the plethora of economic engagement opportunities that they offer in extensive detail. 

•The website will connect interested investors to relevant agencies in India such as the Agricultural and Processed Food Products Export Development Authority (APEDA) for agricultural exports in India, the Indian trade portal for trade with India and Invest India for investment in India. 

•The website also aims to connect businesses seeking to conduct trade and investment overseas with Indian missions and posts and alert them to the relevant guidelines. 

•Indian missions and posts abroad can also access periodically updated business-related information on India aimed at important stakeholders in the overseas Indian community as well as potential foreign investors.

On Agriculture

The External Affairs Minister stated that the Economic Diplomacy website highlights the opportunities for our agriculture exports abroad in line with PM Narendra Modi's vision of doubling farmers' income by 2022. 

He further stated that the Ministry of External Affairs, through its missions, plays an increasingly important role in providing inputs to the Agricultural and Processed Food Products Export Development Authority (APEDA), Commerce Ministry and Agriculture Ministry for diversifying markets and enhancing the income of our farmers through exports. 

While concluding his address, the External Affairs Minister said that in pursuit of the Prime Minister's call for an Atmanirbhar Bharat, the Ministry of External Affairs has been working in collaboration with the Commerce Ministry, Tourism Ministry and the other Ministries to promote the three Ts- Trade, Tourism and Technology into India. 

He added saying that since the states and UTs play an integral role in inviting foreign investment on their own, a separate division on the website has been dedicated to state-specific policies, resources, sectoral strengths and links to investment and trade agencies of each state and union territory. 

M Angamuthu, APEDA Chairman said that APEDA will be a great beneficiary of the initiative. He further continued by saying that the role of the External Affairs Ministry in promoting India's agriculture exports is tremendous and we are working as a team to increase agri-export around USD 60 billion. He added saying that they intend to promote organic products and that India has a great scope in terms of medicines, spices, essentials oils, nutraceuticals and millets. 

Significance

Through a specific focus on the Indian government's ease of doing business initiatives, policy reforms and incentives aimed at attracting foreign investment, the website positions a multidimensional and dynamic 'Brand India' to the global business community.