Connectivity main hurdle for business: Indian expert

AKM Moinuddin,UNB Staff Writer from Nepal

Kathmandu, Sept 22 (UNB) – Lack of proper connectivity is the major hurdle in boosting trade and investment in the South Asia region, says a leading Indian businessman.

“This region should emerge as a prosperous region. It’s my personal dream. We’re ready to offer things with an open heart,” Vikramjit Singh Sahney told UNB Staff Correspondent AKM Moinuddin on the sidelines of 4th SAARC Business Leaders’ Conclave at Soaltee Crown Plaza Hotel on Thursday.

Vikramjit is set to take over the charge of Saarc Chamber of Commerce and Industry for the next term.

Many of Saarc business leaders believe that India, being a big player in the region, does not play its due role for the development of the region and they openly came with such allegations in the Conclave.

When asked about it, Vikramjit said, “It’s not true. We want to play a proactive role for the development of trade and investment in the region.”

He said free mobility and free trade will have to be ensured for further development. “But I see an only impediment which is visa problem. It should be resolved. We’re so near to each other. We need to enhance physical and mental connectivity.”

As a big brother of the region, Vikramjit said, it is the responsibility of India to play an active role in all the areas.

Earlier, at a discussion on ‘Trade and Investment Opportunities in South Asia and Challenges’, the experts and business leaders urged India to play an active role for the economic growth as well investment in the region.

Senior specialist of World Bank Amer Z Durrani, head of Pakistan Trade Development Authority Mujeeb Khan, Aligarh Muslim University teacher Prof Dr Badar Alam Iqbal, Nepal Urban Development Forum coordinator Om Rajbandary, Executive Director of IPS Sri Lanka Dr Saman Kelegama and Senior Private Sector Development specialist of IFC Paramita Dasgupta spoke at the session held with Center for Policy Dialogue (CPD) chairman Prof Rehman Sobhan in the chair.

Speaking at the function, Rehman Sobhan said, “India, being a big economy in the region, will have to play the key role. This region, especially India, has a big market where countries want duty-free access.”

He also said other countries will have to prepare to enter the Indian market. “…we’re trying to enhance the communication and connectivity within the region.”

Rehman Sobhan said it needs to be sure whether Chittgaong and Mongla ports have infrastructural capacities for allowing Nepal and Bhutan to use the seaports. It takes time at the government-level in implementing any decision. Momentum is needed in this regard.”

Om Rajbhandary of Nepal said SAFTA will have to be implemented timely to enhance trade in the region. “Still, the sensitive list is too big. It needs to be cut down.”

The speakers and participants observed that the South Asian region, which is apparently facing slow growth, will be able to attract bulk foreign investment and give a boost to internal trade within the region if SAFTA is implemented.

They find no alternative other than implementation SAFTA to enhance internal trade in the region and attract more foreign investment in the region from the entire globe and suggested using SAFTA as the means of economic development of the region.

The discussants laid emphasis on the removal of tariff and non-tariff barriers, minimising the sensitive lists of products to ensure investment-friendly environment in the region.

Meanwhile, two more session on creating young leadership and Tourism, Cultural Exchange and Role of Media were also held.

Politicians, business leaders, celebrities, media people, cultural activists were present.