As India and Paraguay set their sights on bolstering their bilateral ties, a series of significant meetings and webinars have been lined up to explore avenues for collaboration and exchange of expertise. Next week on May 21, 2024, a webinar has been scheduled which will delve into India’s Mudra scheme, which provides financial support to MSMEs, showcasing its implementation and potential applicability in Paraguay. Prashant Kumar Goel, Joint Secretary (JS) in the Ministry of Finance and the Vice Minister of MSMEs, Gustavo Jimenez on the Mudra scheme of the government will discuss the scheme. This initiative reflects the commitment to sharing best practices and fostering inclusive economic development.
Another prominent event on the agenda is a forthcoming webinar between the IndiaStack team and the Economic Diplomacy Division in the Ministry of External Affairs India with Paraguay’s Minister of Information Technology and Information and Communication, Gustavo Villate.
Confirming this to Financial Express Online, Yogeshwar Sangwan, India’s inaugural envoy to Paraguay, said: “This webinar aims to shed light on India’s pioneering initiatives such as IndiaStack and JAM (Jan Dhan-Aadhaar-Mobile), showcasing their potential for digital transformation.”
According to Ambassador Sangwan, “the recent webinar conducted with the Automotive Components Manufacturers Association of India and the Auto Parts Chamber of Paraguay underscores the commitment to fostering partnerships in key sectors.”
Additionally, as reported by Financial Express Online previously, a delegation from the Electronics and Software Export Promotion Council engaged with IT companies in Paraguay, exploring avenues for collaboration in the tech industry.
“A webinar with the Ministry of Housing’s PM SVANidhi scheme and Paraguay’s Ministry of Industry and Commerce, attended by Prashant Kumar Goel, Joint Secretary (JS) in the Ministry of Finance, and Paraguay’s Vice Minister of Micro, Small and Medium Enterprises, Gustavo Jimenez, highlighted opportunities for knowledge exchange in MSMEs,” said the ambassador. The discussion, he said, focused on replicating successful schemes like PM SVANidhi in Paraguay to stimulate entrepreneurship and economic growth.
Furthermore, discussions between Soho Corporation, a cloud computing and data storage company from India, and Paraguay’s Ministry of Industry and Commerce, attended by Minister Kavya Khimenez, signify potential collaborations in the tech sector. The prospect of setting up a data center in Paraguay demonstrates the mutual interest in leveraging technological advancements for economic progress.
Looking ahead, with the anticipation of the Indian election results on June 4th, both countries are poised to intensify their engagement. “Plans include facilitating visits from private companies and delegations representing prominent Indian trade bodies such as FICCI, CII, and FIEO. These interactions aim to explore avenues for investment, trade, and technology transfer between India and Paraguay,” confirmed the ambassador.
The forthcoming meetings and webinars between India and Paraguay, attended by key officials from both sides, signify a proactive approach to strengthening bilateral relations and fostering mutually beneficial partnerships across various sectors. As both nations navigate the evolving global landscape, such collaborations are instrumental in realizing shared goals of prosperity and development.