India, Malta ink MoUs in fields of Maritime Cooperation, Tourism and Training

Valletta, September 18: India and Malta are on the path to cemetify their relations as they both have signed three Memorandums of Understanding (MoU) in the fields of Maritime Cooperation, Tourism and Training after delegation-level talks between Vice President, Venkaiah Naidu and President of Malta, Ms. Marie-Louise Coleiro Preca.

 

Naidu is in Malta in the second phase of his visit to three European countries. In a Joint Press Statement, Naidu said, India is today the main source of affordable generic drugs in the world and can cooperate in Wellness and Ayurveda sectors.

 

Vice President Venkaiah Naidu invited the business community of Malta to invest in India and assured them that India is a safe place to invest. Addressing India-Malta Business forum in Valletta Monday evening, Naidu said that transformative vision is making India one of the most favorite investment destinations in the word. He said that the Indian economy, growing at around 8%, currently is one of the fastest growing major economies of the world.

Vice President said that India is projected to become a five-trillion-dollar economy by 2025, making it the 3rd largest consumer market in the world. Referring to Jan Dhan Accounts and GST, he said that a number of economic reforms have been undertaken by the government. Vice President Naidu said India is rapidly expanding its infrastructure and the policy initiatives taken by the government are opening up new opportunities.

Vice President said that Maltese companies could consider investing in India in health, maritime transport, films, pharmaceutical, travel, and tourism sectors.