Brussels, Oct 1 Overseas Indian Affairs Minister Vayalar Ravi has called upon the European Union (EU) to strengthen its "strategic economic engagement" with India as the country offers "immense opportunities" for investors, EuAsiaNews reported.
"I stand before you to invite you to develop a medium to long-term strategic economic engagement with a country that offers immense opportunities," he told an EU-India business conference here Wednesday night.
"The investment requirement in infrastructure alone over the next three years is projected to the tune of $435 billion," Ravi said, adding that investors' money was "safe and safest" in India.
The minister praised the contribution of an estimated 25 million overseas Indians spread across 110 countries for transforming the economies and adding value to thought and innovations of their destination countries.
About 300 businessmen, entrepreneurs as well as government officials from the EU and India are meeting in Brussels for three days (Sept 30-Oct 2) to debate and discuss how to expand and boost trade and commercial ties between the two sides.
The "India-Europe Business Partnership Summit" is organised by the Indian Merchants' Chamber (IMC) in association with the Europe India Chamber of Commerce (EICC) and the Belgo-Indian Chamber of Commerce and Industry (BICC).
Belgian Foreign Minister Yves Leterme in his inaugural address said strengthening of EU-India partnership would contribute to greater global peace and stability.
"India is a dynamic fast-growing economy and the EU is the most important trading partner of India," he said.
Belgium will cooperate closely with India to make the eighth Asia-Europe summit (ASEM), to be held in Brussels in October 2010, a success, Leterme said.