FICCI stated that given the fact that oil market is plagued by risk of high and low price cycles as a result of demand and supply shocks, in such circumstances,
BILATERAL TRADE BETWEEN INDIA AND IRAN
FICCI stated that given the fact that oil market is plagued by risk of high and low price cycles as a result of demand and supply shocks, in such circumstances, there is a need to jointly manage price risk and demand and supply shocks by both the consumer and producer nations. In a changing environment, India needs to position itself not only as a destination for Iran energy supplies but also as a hub of investments and provider of technology and services.
Due to abundant oil and gas endowment and geographic proximity, Iranian oil and gas sector is bound to act as a catalyst to boost the bilateral trade between the two regions.
PRESIDENCY OF BRICS BUSINESS COUNCIL
Mr. Onkar S Kanwar, Chairman, India Chapter of the BRICS Business Council, who assumed Chairmanship of the BRICS Business Council, has outlined a four-fold agenda during his tenure as Chair. The core mantra, he said, would be ‘Continuity with Consolidation’.
The four-fold agenda would emphasize on four tracks:
ü First is aligning of the Council’s work with the priorities that have been set by our respective governments.
ü Second, the role of the New Development Bank and the support expected from it for carrying forward some of the ideas floated in the working groups is important.
ü Third, while bringing regulatory coherence and eliminating administrative barriers are very important.
ü Fourth, is to develop a set of programs that Indian Chapter would organize in the coming months.
—Dr A. Didar Singh is the Secretary General of the Federation of Indian Chambers of Commerce and Industry