Monday, March 12, 2007

Trinidad and Tobago Business delegation 12 march

CII hosted a meeting at the Intercontinental Hotel, New Delhi with the first and largest-ever Trinidadian business delegation. It consisted of 21 members and was headed by Minister of Trade and Industry Mr Kenneth Valley.
In my speech I highlighted the new Indian business mindset and the difference with the old India using the example of Trinidad itself. About 170 years ago, Indians went as indentured labourers to work in the sugar plantations of Trinidad because at that time India was poor and was ruled by a Colonial power. Today Indian companies are going to Trinidad to invest, create wealth, add value and provide employment. Mittal Steel has invested 1.5 billion dollars. Essar is investing 1.2 billion dollars in another steel mill. T and T has attracted more Indian investment than Brazil or Mexico!. The delegation which has come to India after visiting the dragon(China) and tiger(Korea) can now see the flying elephant ( India) which has the distinction of being the fastest growing largest free market democracy in the world.
The Head of HR and Admn of Essar Steel Caribbean Ltd Mr Prem Singh talked about the positive experience of his company in making the investment in T and T.
High Commissioner Manideo Persaud highlighted the competitive advantages of T and T for Indian investors.
T and T is the gateway to the Caricom region which is integrating towards a Single Market and Economy. T and T is the richest country in the region and its economy is booming with the high oil and gas prices.

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