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India, Monaco need to collaborate to address environmental issues: Prabhu

India, Monaco need to collaborate to address environmental issues: Prabhu

New Delhi, Feb 4 (UNI) Union Commerce and Industry Minister Suresh Prabhu on Monday stressed the need for India and Monaco to deepen their cooperation to develop and eventually adopt hi-end technologies to address the growing environmental concerns.

Addressing the 'India Monaco Business Forum' organised by FICCI, in the presence of Monaco Prince HSH Albert II and the accompanying delegation, Mr Prabhu said

India and Monaco can jointly work together in developing technologies to mitigate environmental concerns.

He also invited Monaco industries to invest in the Indian services sector which are expected to contribute 3 trillion dollars to India's GDP once it is a 5 trillion dollar economy in the next 5-6 years' time.

"The government has already identified 12 champion sectors in services namely banking and finance, tourism and hospitality and healthcare services to mention a

few and we want Monaco to take advantage of this," Mr Prabhu added.

Mr Gilles Tonelli, Minister of Foreign Affairs and Cooperation, Monaco, highlighted the opportunities present in Monaco and invited the Indian companies to capitalise on the safe and sound industry-oriented policies framed by the government. He also outlined the importance of the government in societal development.

A 'Partnership Agreement' was signed between FICCI and Monaco Economic Board to strengthen the institutional relations between the two countries for further

increasing trade and economic relations between the two countries.

The inaugural session was followed by structured B2B session for the visiting 20-member business delegation from Monaco.

UNI SW RSA 1822

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