Enhancing India CARIFORUM Economic Relations and Prospects for Cooperation

People to People Exchanges, Tourism, and Media Exchanges Even though the relations between the two regions date back to at least 19 th century, and a significant presence of ethnic Indians in the CARIFORUM countries, challenges to greater economic integration stem from differences in business and trade culture, as well as from the geographic distance and concomitant problems of connectivity. Therefore, the importance of people to people exchanges, tourism, and media exchanges can’t be ignored. A more liberalized visa regime, particularly for Indian businesspersons, software technicians and professionals who might need to service companies and projects in the region and tourists; would go a long way in ease of doing business and increasing cultural exchange. In this respect, improving air connectivity should also be given priority. Presently there are no direct flights between India and CARIFORUM region. The public audio-visual media and contents also constitute an important tool to promote friendship and mutual understanding. Therefore, encouragement to increase of communication and meetings between the authorities of public media systems to closely cooperate in and exchange audio visual content will go a long way in increasing cultural exchange. Increased Industry Engagements In order to increase awareness of the regions on both sides, business conclaves like the India-LAC conclave and other industry association engagements, endeavour to provide a platform for increased interaction among industry, academicians, policy makers, and government representatives with a view to benefiting the entrepreneurs, investors and business community. Such platforms showcase opportunities, expertise and capabilities of industry players and could help generate viable business propositions among interested parties. Research studies by think tanks, research organisations, and key development finance institutions also play an important and catalytic role in identifying and highlighting economic opportunities leading to increased trade and investments among the regions. Enhancing Engagement through New Embassies Expansion of India's diplomatic presence in the LAC region could contribute to significantaly enahancing relations between India and LAC region. India, till recently, had only 14 embassies in LAC. On the other hand, LAC is represented by 21 embassies in India with the latest one to establish its High Commission being Jamaica in September 2020. Most recently India had approved the establishment of two new embassies in the LAC region, one in Paraguay (which

Key Observations and Recommendations

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