PM Modi invites Jordanian firms to partner India, create robust economic corridor

Amman: Prime Minister Narendra Modi on Tuesday invited Jordanian companies to partner India and reap the benefits of its 1.4 billion consumer market, its strong manufacturing base, and a stable, transparent, and predictable policy environment.

Jordan’s Free Trade Agreements (FTAs) and India’s economic power could be combined to create an economic corridor between South Asia and West Asia and beyond, said PM Modi and King Abdullah II while addressing the India-Jordan Business Forum here.

Both leaders acknowledged the importance of increasing business-to-business ties between the two countries and called upon the industry captains from both sides to convert the potential and opportunities into growth and prosperity.

Highlighting India’s success as the fastest-growing major economy, which is on course to become the third-largest economy in the world, the Prime Minister stated that India offered immense business opportunities for its partners in Jordan and across the globe.

PM Modi also proposed doubling bilateral trade with Jordan to $5 billion over the next five years. The Prime Minister said that both countries can join hands to become trusted supply chain partners for the world, highlighting opportunities for India-Jordan business collaboration in the fields of Digital Public Infrastructure (DPI), IT, Fintech, Health-tech and Agri-tech and inviting startups from both nations to join hands in these areas.

He noted that India’s strength in the pharma and medical devices sectors and Jordan’s geographical advantage could complement each other and make Jordan a reliable hub for West Asia and Africa in these fields.

PM Modi also highlighted business opportunities for the two sides in the areas of agriculture, cold chain, food parks, fertilisers, infrastructure, automobile, green mobility and heritage and cultural tourism. Speaking about India’s green initiatives, the Prime Minister suggested greater India-Jordan business collaboration in the fields of renewable energy, green financing, desalination and water recycling.

IANS