New Delhi [India], September 8 (ANI/SRV): The Indian Economic Trade Organization in association with the India Eurasia Trade Council (IETC) organized the India Armenia Conference 2022 in Bengaluru India which was attended by the Business community in Bengaluru. The President of the Indian Economic Trade Organization Dr Asif Iqbal welcomed the Ambassador of Armenia in India Youri Babakhanian and Babakhanian along with Yateesh Venkatesh, Trade Commissioner of the Council for Armenia and pledged the commitment of support between the two nations for a robust partnership. The conference saw the presence of many entrepreneurs from different parts of the country.
The motto of the India-Armenia Conference was Promoting Investment and Growth in collaboration with the Embassy of Armenia in India and the Indian Economic Trade Organization. The event was attended by around 70 participants representing public, business, educational and healthcare sectors of the state of Karnataka.
The conference participants discussed with the Ambassador of Armenia the issues and prospects of the bilateral economic cooperation, presented several interesting proposals aimed at jointly implementing them. In his remarks the Armenian Ambassador talked about the historical roots of the traditional bilateral political relations and praised the positive environment there formed over the recent years, adding that the mutual visits of the foreign ministers of Armenia and India have greatly contributed to it.
Ambassador Yuri Babakhanyan stressed the need for making all efforts to raise mutual recognition and trust between different Armenian and Indian companies. He called on the conference participants to actively participate in exhibitions and conferences in Armenia.
Memorandum of Understanding in Culture was signed between Trade Commissioner Yateesh Venkatesh and the Bangalore International Arts Festival for the participation of Armenian culture performers.
There is a huge interest in India for Armenia, a country with great scope for bilateral trading opportunities in Tourism, Agriculture, Pharma, and Industrial development by Indian companies. The Indian delegation from the Indian Economic Trade Organization visited recently and signed the Memorandum of Understanding with the Ministry of Culture in Armenia to establish the Film Academy and create mechanisms between the film Industry in India and Armenia.
"Indian film shooting are a great opportunity for film-makers in Armenia, for its scenic beauty and reasonable manpower costs. When it comes to medical students from India, there are high number of students from India. Armenia and India share long-standing historical ties, as India was at the forefront in supporting Armenia's national development plans. We want to have Indian exports to be the main focus to balance this gap and increase the export revenue" said Yateesh Venkatesh, Trade Commissioner of Armenia for the India Eurasian Trade Council.
Dr Asif Iqbal explained how thousands of Indians now know about Armenia and want to visit the beautiful country. The various delegations of the IETO in the past few years saw MOUs signed in the areas of Agroforestry, Tourism and Hospitality, Solar energy and Pharma products. India has a large market for Armenian IT Talent, with high potential for bilateral cooperation in the areas of Skill Development, Affordable Housing, Agriculture, Tourism and Entertainment.
The Ambassador of India in Armenia, K D Dewal, IFS, met with various business delegations in the last one year and the Embassy has always been prepared to assist and support Indian businessmen.
"The country produces enough for its own needs and is also a net exporter of dry fruits. India's agriculture sector provides employment for marginally less than half the country's entire working population. The country ranks among the world's top producers of some agricultural produce. Astonishingly, a million people enter India's job market every month. The rapidly growing industrial sector is now a significant GDP contributor and has created many new jobs," said Ganesh Papanna who is also an Indian entrepreneur from Bangalore and visited Armenia recently.
"As the Commissioner of India Africa Trade Council, my goal is to build bilateral relations reach new heights between India and Armenia and our forthcoming India Armenia conference in November 2022 will see tremendous interest from the Indian side" said Yateesh Venkatesh.
The delegation of the India Eurasia Trade Council will be hosting various delegation programs to create new mechanisms for collaboration between Indian and Armenian companies.
The delegation also saw the banking entity JMR Group that conducted various dialogues with leading banks of Armenia for enabling collaborations. JMR Group is a big IT group managing banking operations of various countries. Wali Kashvi, the vice president of the Indian Economic Trade Organization facilitated the protocols for the delegation and pledged support for maintaining relations as per the rules and regulations laid down by the governments of both countries. The business expected to accelerate through these trade desks builds relationship between people to people of both countries.
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