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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


ďHuge scope of increasing trade between India and Latin America in Pharma and ITĒ

Tuesday, February 21, 2017 > 09:52:19


Ahmedabad, Feb 20: “Pharmaceutical industry and IT will be the key sectors for increasing mutual co-operation between Latin America and India. Latin American exports to India have grown at a compound annual growth rate of 4.56%. Brazil and Mexico are the two countries that export most to India. pharmaceutical industry High quality and low cost pharmaceutical products, Technology transfer, Training for Ecuadorian students and professionals, Investment in the local pharma industry”. This was stated by H.E. Mr. Hector Cueva Jacome, Consul General of Ecuador in National Day celebration at Gujarat Technological University (GTU).

GTU’s Centre for Global Business Studies organized National Day Celebration of Ecuador, Madagascar and Italy was organised in a seminar about Doing Business in Ecuador, Madagascar, Italy and Dubai on 18th February, 2017 at GTU Chandkheda Campus. More than 150 students from Shri Sunshine Education trust group of institutions, Rajkot, Shri Jayrambhai Patel Institute of Management, Gandhinagar, Shri Brahmanand institute of Management, Junagadh and Oakbrook Business School, Ahmedabad participated in the event.

The Consul General said that, “India’s GDP is currently USD 2.1 trillion and represents 3.34% of the world economy. By 2030 India is expected to be the third largest economy in the world with a GDP of 10.2 trillion. India is currently the fastest growing economy in the world. The economy of India has grown 7.9% in the first 3 months of 2016. India has 1.3 billion people, equivalent to 18% of the world population. India’s Middle Class Revenue will triple in the next two decades. Middle-class households are those that have annual incomes of USD 10,000 – 15,000. Latin America imports Oil & Derivatives, Vehicles, Pharmaceutical, Organic, Various Iron & Steel Products, Chemical Products from India.” Diplomats Mrs RAOLONA Danielle, Attache Financial Officer – Embassy of Madagascar and Mrs RAMIANDRISOA Vololoniony, Attache in charge of Consular Affairs – Embassy of Madagascar were also present on the occasion.

Industry Expert Mr Jagat Shah, President, Founder & Chief Mentor- Cluster Pulse – Global Network – Global Network Institute advised MBA students to create LinkedIn profile, video CV and to write a blog. He said that, “in USA there is one saying that – It’s okay to fail, but fail early. Narayana Murthy, founder of Infosys was born into a middle class family in Mysore. Since his father was a high-school teacher, the financial conditions of the family were not that good. He started his career as a chief system programmer at IIM Ahmedabad. In 1981, Narayana founded Infosys with six people with an initial capital of US$250, the maximum share of which was borrowed from his wife. He was saying you Might Fail but get started.” He expressed hope that with the help of 7 Mission mode programmes of Modi Government, India will regain its past glory.

Prof. (Dr.) Navin Sheth, Vice Chancellor of GTU also addressed the students. He said that, “Short cut will cut you short. So make comprehensive study with total involvement. Take the example of Carlos Gonzales Vallés S. J., popularly known as Father Vallés, a Jesuit priest and author. Born in Spain, he lived in India for five decades and wrote extensively in Gujarati language and on mathematics. Contribution of Father Valles in Gujarati literature will be unforgettable by Gujarati community. Since 17th Century, India was on forefront of trade. The Portuguese nobleman Vasco da Gama sailed from Lisbon in 1497 on a mission to reach India and open a sea route from Europe to the East. After sailing down the western coast of Africa and rounding the Cape of Good Hope, where he asked the route to a rich trader who was Kutchi from India. This description has been written in his diary. Spices and diamonds were main commodities in the trade from that time.” He advised students to work hard in studying about the trade of concerned country allocated by GTU.

Mr K H Patel and Mr Sunil Modi, Members of Board of Advisors also expressed their thoughts and global experience. Dr C.N. Patel, Member of Board of Governance of GTU was also present. Dr. Kaushal Bhatt presented vote of thanks. 

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