In the Image (L to R): Ms. Priya Pansare, Director, Trade and Investment Promotion, World Trade Center Mumbai; Dr. Ketan Shukla, Retd. IFS Officer; H.E. Anita Shukla, Ambassador of India to the Republic of Ecuador; Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and President, All India Association of Industries (AIAI); Mr. Anand Pandit, Honorary Consul of the Republic of Ecuador in Mumbai and acclaimed film producer; Ms. Sangeeta Jain, Senior Director, All India Association of Industries.
World Trade Center, Mumbai and All India Association of Industries organized a high-level business roundtable with H.E. Anita Shukla to explore new avenues for bilateral trade, investment and economic cooperation between India and Ecuador. The meeting brought together exporters, importers, industry leaders, MSMEs and representatives from diverse sectors to discuss emerging opportunities for collaboration between the two countries.
Delivering the special address, H.E. Anita Shukla, Ambassador of India to the Republic of Ecuador, said, “Ecuador offers a favourable business climate supported by its adoption of US Dollar as its national currency, which ensures stability, transparency and greater ease of doing business for international investors. There are immense opportunities for Indian companies in sectors such as mining, petrochemicals, infrastructure, agriculture, food processing, renewable energy, healthcare, aviation, fintech, sustainability, and digitization. The government is also in the process of establishing free trade zones to further enhance the country’s attractiveness as an investment destination.”
“Under the Indian Technical and Economic Co-operation (ITEC) Programme of the Government of India, professionals and government representatives from Ecuador are receiving capacity-building and specialized training from India. We look forward to welcoming more business delegations from India to explore the growing trade and investment opportunities in Ecuador,” said H.E. Anita.
Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and President, All India Association of Industries (AIAI) said, “There is immense scope to strengthen bilateral trade and investment ties between India and Ecuador across both traditional and emerging sectors. Current bilateral trade between the two countries is driven by crude oil, shrimp and agricultural products, along with pharmaceuticals, engineering goods and automobiles, while significant potential exists to expand cooperation in green energy, agri-tech, artificial intelligence, sustainability, food processing and digital innovation. The ongoing negotiations for a Preferential Trade Agreement (PTA) can further enhance market access, reduce trade barriers and create new opportunities for businesses on both sides.”
Mr. Anand Pandit, Honorary Consul of the Republic of Ecuador in Mumbai and acclaimed film producer, shared that, “Ecuador remains a completely untapped market both ways and there is enormous scope for enhancing commercial and investment partnerships between businesses of both countries.”
Dr. Ketan Shukla, Retd. IFS Officer said, “Ecuador is a hub for tourism and is one of the most stable countries in South America. Around 60 percent of goods imported from Ecuador remain petrochemical products. Businesses operating from Ecuador can also access the wider South American market.”
Ms. Priya Pansare, Director, Trade and Investment Promotion, World Trade Center Mumbai, stated, “Latin American countries are becoming increasingly important to the global economy and there is significant potential for India to deepen trade, investment and technology partnerships with the region.”
The session concluded with a productive networking, reaffirming the strong resolve of India and Ecuador to deepen bilateral economic engagement and unlock new partnerships.
