Business hub inaugurated in Goa to boost India-Portugal economic ties

India-Portugal business hub

A business hub was recently inaugurated in Goa’s capital Panaji with a sole intention of boosting economic ties between India and Portugal.

K Nandini Singla, the Indian ambassador to Portugal inaugurated the business hub in the presence of Dr.Rui Baceira, Council General of Portugal and Darryl Pereira, CEO of Reira Group.

“We are very happy to open a business hub in Goa, a platform for Indian diaspora and Portuguese diaspora to get together to connect businesses in various synergies,” Singla told ANI at the inauguration event.

Ambassador Singla stated the business hub to be an important steps for both the countries given the fact that they have recently signed 20 Memorandum of Understandings (MoUs). Portuguese Prime Minister Antonio Costa visited India in January of this year and Indian Prime Minister Narendra Modi visited Portugal in a reciprocal visit in June of this year.

“I believe the dynamics and atmosphere are fertile for leap in terms of business, trade and investment between India and Portugal, and we have bilateral trade of 700 billion dollar, which is expected to cross in the near future,” she added.

The Indian Ambassador mentioned that the business hub will open new avenues for investments in sectors such as renewable energy, infrastructure development, construction of ports and shipping, water management, waste management, agriculture, food processing and various other sectors.