‘Laos is emerging as a preferred destination for corporates’

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: New Delhi that his government would create a favourable environment for Indian investments. He urged Indian industry to cash in on the myriad opportunities for trade and investment offered by his country, especially in agriculture, mining, hydropower development and tourism.

According to Ficci, India-Lao PDR trade which at $2.74 million did not reflect the closeness of bilateral relations nor did it reflect the tremendous potential that exists between the two countries. There is considerable scope for investments for Indian entrepreneurs and business in the sectors like drugs, pharmaceuticals, chemicals, fertilizers, hydrocarbons, food processing, two wheelers, three wheelers, construction, mining, setting up of sugar and rice mills and IT. In these areas, Indian capabilities and competitiveness were well-known and enhanced cooperation with Lao PDR would benefit both sides.

Lao PDR’s major import items include machinery, organic chemicals, machine tools, paper board and electronic goods. These are some of the products where India has an edge and it can take advantage by venturing in these areas in Lao PDR and thus increasing its the share of imports.

Today, Lao PDR’s main priority areas are agriculture and food self-sufficiency, and infrastructure development. Kirloskar Brothers Ltd have made a significant impact in augmenting Lao irrigation facilities for dry season cultivation with their diesel and electrical water pumps. Apart from irrigation pumps, Indian exports to the Lao PDR are drugs and pharmaceuticals, machinery, paints and varnishes, textiles, sports & electrical goods. Lao exports to India are negligible, and consist mainly of fragrant wood used for agarbattis.