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

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.