India's High Commissioner to Port-of-Spain, Malay Mishra, has said that the visit of Prime Minister Kamla Persad-Bissessar and a T&T delegation to his country in January has begun to bear fruit and he urged nationals to look at the opportunities rather than concentrate on the cost of the visit.
In a wide ranging interview at his officer last week, the High Commissioner said Indian businesses were viewing Trinidad and Tobago as the gateway to the wider Caribbean and already more than half a dozen of them have come to this country seeking opportunities to invest.
Mishra said: "We see T&T as a leader in the region and while Caricom is a relatively small market, it is still a worthwhile market in which you can set up your business and do well. Indian businesses are looking at T&T as a place to invest in." The Opposition People's National Movement has raised issues surrounding the cost of the trip by the Prime Minister and her delegation including the cost of allowing the Prime Minister's sister to accompany her on the trip.
Mishra said there is a need to lift the level of the debate. "That kind of discussion is absolutely irrelevant. In my view it is a non issue. It's being made an issue here and I think people are not actually discussing the real thing. The real things are what the benefits of the visit are. Who paid for the visit, who has paid and who has not paid those are all irrelevant issues.
"Whenever a government undertakes a decision to go on a state visit, there has to be expenses," the Indian High Commissioner told the T&T Guardian. He added: "This visit has moved the level of our relationship to a high pedestal. From our side, the importance of T&T in the eyes of the government of India has gone considerably higher and we are looking at T&T, not only as one country in the Caribbean but also as a very significant location and good hub for the rest of the region for our businesses and our investors to come down and invest."
He revealed that emanating from the trip, the Indian state company, Oil and Natural Gas Corporation (ONGC) has expressed interest in the recently opened deep-water bid round and has already visited the Ministry of Energy and acquired data packages with a view to deciding if it will bid for any of the blocks. In addition, the foreign arm of ONGC, OMEL which once had an office here, is likely reopen it.
In addition, Mishra said that the governments of T&T and India have held discussions on the possibility of an Indian firm buying a stake in Petrotrin. He said: "There have been talks when both the ministers met in India in January. There were talks about the possibility of our Oil India Ltd looking at being an equity partner in Petrotrin. I do not know in view of the latest development what will happen, but a delegation is going to come soon in July and we will wait and see what will happen in the talks during the visit."
Mishra also told the Guardian that a delegation will be coming to T&T to finalise a framework agreement between the National Gas Company (NGC) and GAIL, the Gas Authority of India Limited, which would see India importing more LNG from T&T.
When asked how much gas was India expecting, bearing in mind the natural gas challenges facing T&T, Mishra said: "India is a large consumer of energy and it imports 70 per cent of that energy from various countries around the world. It is not really material how much quantities we will get from T&T. Even if it is small, whatever quantities you get you will be appreciative of it. And whatever quantities we get, it will go into our energy import basket."
He also revealed that a fertilizer project was also in the works which would also involve some downstream investments. The Indian High Commissioner said the Minister of Petroleum and Natural Gas of India has invited Minister of Energy and Energy Affairs Kevin Ramnarine back to India in October to attend the Petrotech conference where Ramnarine is going to be one of the feature speakers and where he expects further talks about how India can deepen its energy relationship with this country.
With India being a leader in ICT, Mishra said his country is prepared to assist T&T and already an Indian led business is investing US $50 million in setting up an ICT facility at the Tamana Intec Park. He said: "They are putting in an Internet switch and a data volt, which is a huge data bank, which they are making, and the Internet switch which is being developed here and will be used in the entire region.
"So that at the moment your Internet connectivity is through Miami and your data is passing through Miami. You do not have to go through Miami to get your data here, your data can well be under your control and you can achieve your self sufficiency in data management and data control which this project will help in doing."
