Jordan, India offer opportunities for joint businesses

AMMAN — India's embassy in Jordan on Wednesday organised an interactive session to promote Indo-Jordanian business cooperation.

At the session, titled "Make in India and Make in Jordan"-Harnessing the Synergies, which hosted Jordanian leading industrial figures and businessmen, speakers from Jordanian side highlighted investment opportunities available in Jordan. 

In order to reach trade target of $5 billion in 2025,  Chairman of Jordanian Business Association Hamdi Tabbaa proposed  broadening the commodity base and of utilising comparative advantage of each country in the service sector such as information technology, construction, tourism, education and health. 

"There are great opportunities to set up joint investment projects in pharmaceutical, automotive, textile, clothing, medicine and Dead Sea products, renewable energy and fertiliser industry, and of establishment of small- and medium-sized projects as well as support such as finance, training and technology transfer," Tabbaa said.

He called on Indian investors to take advantage of Jordan's geostrategic location, security, stability and attractive business environment as well as its free trade agreements with Arab countries, the US, Europe, Canada and Singapore.

In his address, Indian Ambassador Anil Trigunayat briefed the gathering about business opportunities available in India under various initiatives by the new government in India. 

Trigunayat highlighted opportunities available under "Make in India", “Digital India”, “Clean India”, “Skill India” and “Start-up India” initiatives.

He said there are large opportunities to increase economic exchange between India and Jordan, following a state visit of President of India to Jordan last month and the signing of six inter-governmental agreements and 12 agreements between universities.

To realise the potential, the government of India recently announced a line of credit worth $100 million for enhancement of trade and investment in Jordan, the ambassador noted.

 He referred to the first Indo-Jordan Business Forum to be held in India in January 2016, urging businesspeople to participate with specific projects. 

Indicating that India is Jordan’s 4th largest trading partner with $2.2 billion in trade and probably the biggest investor in phosphate and textile sector, the ambassador said Jordan can play an important role in India’s food and energy security.