India committed to collaborate with industrialists from SCO: Union minister

With mutual cooperation, we can give new direction to socio-economic and industrial development: Union minister Mahendra Nath Pandey

Mahendra Nath Pandey | File photo
Mahendra Nath Pandey | File photo
Press Trust of India New Delhi
2 min read Last Updated : Jul 15 2022 | 5:55 PM IST

Union minister Mahendra Nath Pandey on Friday said India is committed to collaborate with industrialists of Shanghai Cooperation Organization member countries to explore mutually beneficial opportunities.

Addressing the 2nd meeting of Ministers of Industry of the SCO (Shanghai Cooperation Organization) virtually, the heavy industries minister said, "with mutual cooperation, we can give new direction to socio-economic and industrial development" in the region.

The meeting was held in Uzbekistan.

SCO has China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan as its full-time members.

"The minister also highlighted India's determination to enhance cooperation with SCO by playing an active, positive, constructive role in the organisation. He reiterated India's commitment to collaborate with industrialists of SCO member countries to explore mutually beneficial opportunities," a release said.

Pandey also highlighted India's robust industrial environment and reiterated that despite disruptions due to the COVID-19 pandemic, its performance has significantly improved in 2021-22.

He informed that the share of mining and quarrying, manufacturing and construction in India's GDP is now 28 per cent and under the inspirational leadership of Prime Minister Narendra Modi, the government has drawn up a comprehensive programme for industrial rejuvenation to remove long-standing bottlenecks arising due to inadequate infrastructure and sluggish business processes.

He also highlighted that various labour market reforms have also been introduced to improve the industrial environment in the country.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Shanghai Cooperation Organisationheavy industry ministryMahendra Nath Pandey

First Published: Jul 15 2022 | 5:55 PM IST

Next Story