External Affairs Minister Dr S. Jaishankar today said that economic diplomacy is at the heart of India’s Neighbourhood First, Act East and Africa policies. He said, India has offered 300 Lines of Credit to 64 countries involving 539 projects till date.
The Minister was speaking at Economic Times Global Business Summit in Delhi. He said, since Lines of Credit have sovereign guarantee, it helps Indian companies to operate in markets which they would normally not venture into since they are risk prone.
The Minister added that a positive attitude must be backed up by supportive policies and that is what government has been doing. Dr Jaishankar said, Indian Embassies today exude receptivity and extend support to Indian business in a manner that they did not earlier.
He also said that trade outcomes must be primarily justified by trade calculations and not by political correctness. He further said, gains of trade deals must be visible, probable, and practical and not just hypothetical scenarios.
Source: News On Air