India looks for Belgian investment in NMIZs
India looked for investments from Belgium in the National Manufacturing and Investments Zones (NMIZs) primarily in the area of training and research.
NMIZs will be mega industrial zones with world class supporting infrastructure. The government is providing a number of incentives like exemption from capital gains tax and relaxed labor and environment norms to encourage these zones.
Both countries agreed to work in a targeted manner in the area of agro-processing, vocational training, advanced engineering, manufacturing, health and life sciences.
India invited Belgium to have institutional linkages b/w Antwerp World Diamond Centre (AWDC) and the diamond facilities in India, particularly in the areas of grading and sorting, R&D, certification, cutting and polishing.
With about 69.84% of the bilateral trade, the gems and jewellery is the dominating sector of trade b/w the two countries.
In 2011, bilateral trade was at $17.75 billion.
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Month: Current Affairs - August, 2012