By IRNA,
New Delhi : To achieve energy security, India Friday called for civil nuclear cooperation with various countries.
“Energy security is among the most important micro economic challenges faced by the country” said India’s External Affairs Minister, Pranab Mukherjee addressing India-Arab Investment Project Conclave in New Delhi.
Noting that New Delhi has to depend to a large extent on imported fuels for meeting its energy needs, the Minister said, the country is exploring avenues for bilateral as well as multilateral cooperation with petroleum rich countries.
He said India is at the same time making efforts in the area of renewable energy and new technologies. He listed out other challenges before the country as enhancing agricultural security and education and skill building of the large young population.
The Minister urged the Arab countries to invest in India to meet the challenge of enhancing agricultural productivity. He said India is taking all initiatives to encourage investment from capital rich countries for infrastructure projects.
Outlining the importance of decade old silk route between Asia and Middle East, Mukherjee said it is up to government and the private sector to work as partner in both India and Arab countries and create a more responsive investment climate to achieve benefits of new silk route in its full potential.
He said there are enormous opportunities for Arab countries for profitable ventures in the areas of IT, Telecom, Auto parts, health care, bio-tech, food processing, manufacturing, construction and banking services.
The Minister expressed the confidence that India and Arab world can work together for a brighter future for their following generations.
Nearly one hundred fifteen delegates from Arab countries including Investment Minister of Sudan and Chief Representative of Arab League are participating in two day conclave organised by Federation of Indian Chamber of Commerce and Industry (FICCI).