2 min readVientianeSep 14, 2010 03:03 AM IST
First published on: Sep 14, 2010 at 03:03 AM IST
A 45-MEMBER India business delegation from CII,FICCI and ASSOCHAM accompanying President Pratibha Patil on her state visit to Laos and Cambodia made a strong pitch for Indian investment in the natural resources industry in Laos at an India-Laos business forum meeting on Monday.
The tiny,landlocked member of ASEAN has massive,underexplored,potential in the mining of gold,copper,iron ore and bauxite,and plentiful forest resources. The Tata group has applied for a mining exploration licence in iron ore,but is waiting for approval from the government of Laos.
Earlier,the Indian business delegation met President Patil and requested the governments assistance,particularly in obtaining mining licences.
Speaking to the press on the sidelines of the India-Laos business forum,Sandipan Chakravortty,managing director of Tata Steel Distribution and Processing Limited and leader of the Indian business delegation said,The government of India has to lend support. Competition here is not with Indian firms but with firms from China and Vietnam.
The government of Laos has already given out 146 mining exploration licences since 2006,but mostly to Chinese and Vietnamese firms. No new licences have been issued in the last year.
Speaking at the Forum,President Patil called upon Indian businessmen to consider the opportunities available and to further explore the Laos market. She said that the Commerce and Industry Minister of Laos,Nam Viyaket,had assured her that he would look into concerns expressed by the Indian business delegation.
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