Paraguay seeks investments from India

New Delhi, May 25 (PTI) Seeking to enhance bilateral economic ties with India, Paraguay today sought investment from India in sectors like agriculture, infrastructure, IT, tourism and pharma. "We offer great opportunities. There are several areas where businessmen of both the countries can cooperate, like agriculture, energy, services and tourism. We should come together to explore possibilities," Paraguay President Fernando Lugo Mendez said here at a luncheon meeting with Indian industry chambers CII, FICCI and Assocham. He said the economic stability and vast reserves of natural resources provide huge opportunities to Indian businessmen. "We welcome you. Please come and invest in sectors like infrastructure. In pharmaceutical, we both can cooperate," he added. The President, who is in India on a three-day visit, said Paraguay can act as a gateway for India to explore businesses in MERCOSUR, the trade bloc of Argentina, Brazil, Paraguay and Uruguay in Latin America. India has preferential trade agreement with MERCOSUR. "...huge potential is present in both the countries to boost trade," FICCI Executive Committee Member Rakesh Bakshi said. PTI