India (Common Wealth) _ India’s description as the “Pharmacy of the World” has been welcomed by all countries around the world, as explained by External Affairs Minister S Jaishankar, indicating the remarkable expansion of the Indian Export economy being the world’s fifth-largest economy.
This observation was made while delivering the keynote address at the India-Latin America Business Forum in Panama following his Guyana visit. He called on Panama’s President Nito Cortizo and conveyed Prime Minister Narendra Modi’s personal greetings.
He further went on to say Long-awaited changes in India have resulted in record Indian exports while hailing Latin America as an appealing market. Indian project execution has expanded across geographies, and Made in India and Delivered by India are becoming global realities, he noted.
External Affairs Minister further stated that India is looking into the idea of opening a logistics hub for Indian companies in Panama, claiming that the country’s trade with Latin America is growing and nearing $ 50 billion.
During their discussion, Panama President Nito Cortizo stated that they discussed the desire to form an alliance with the Indian pharmaceutical industry in order to attain excellent, effective, and less expensive medicines for Panamanians.
We address the trade relations as well as the perks that our country provides for setting up of more companies; as well as the opportunities for partnership, and our interest in developing a center of technological excellence and innovation,” he tweeted.S Jaishankar also met with his colleague, Janaina Tewaney Mencomo, and discussed measures to strengthen their bilateral relationship. They later spoke with the press.
“A lot of the conversation was about how to strengthen our friendship and expand our cooperation. He explained that among the significant aspects in the discussion were trade and investment, as well as the potentiality of establishing a logistics hub in Panama for Indian enterprises.
He stated that they discussed the issues of cheap health and more decentralized medication manufacturing around the world, especially in this region, as well as opportunities in energy and renewables.
“He welcomed his counterpart @DrSJaishankar to the Bolivar Palace With a high-level influential delegation from the National Government.  We express the development and potential of our country as an energy and logistical hub, as well as a vital commercial and investment location,” Mencomo tweeted
“It was a pleasure to greet all of the attendees of the LAC-India Business Forum, an initiative that promotes the development and economic dynamism between our region and the world’s fifth-largest economy.” “We promote Panama as a strategic location for trade and investment,” she wrote on Twitter.
Jayasankar went on to list eleven reasons why India’s business engagement with Latin America is worthwhile.
“With a value of nearly $ 50 billion, India-Latin America trade has a diverse basket.” Significant increases in investment and interest in the mining, energy, agriculture, and infrastructure sectors will fuel it even more,” he predicted.
According to the minister, as the world’s fifth-largest economy, India’s global influence is constantly rising, with transformations in manufacturing, infrastructure, innovation, and start-up culture within the country being game changers.
Indian agriculture is progressing in terms of productivity, quality, and technology. He stated that this has external repercussions. “Today, Indian talent and skills see the world as a workplace.” Skill India, Startup India, and the New Education Policy are all part of this mosaic,” he added.
Jaishankar is on a nine-day journey to Guyana, Panama, Colombia, and the Dominican Republic, his first visits to these Latin American and Caribbean countries as foreign affairs minister.
