CII and amfori sign MOU aimed at enhancing liaison and cooperation in the areas of open and sustainable trade
The Confederation of Indian Industry (CII) and amfori signed a Memorandum of Understanding (MoU) on August 25 in New Delhi, aimed at enhancing liaison and cooperation in the areas of open and sustainable trade, to improve the sustainability of supply chains and enabling a policy environment that supports the success of members and sustainability of operations. The MoU was signed during the seminar on “Sustainability and Trade”, jointly organized by the CII and amfori.
“We are facing the consequences of climate change and we need to act fast to address these urgencies and create a conducive environment for future generations”, stated H E Ambassador Ugo Astuto, Ambassador of European Union to India and Bhutan. Trade liberalisation and sustainable development needs to go hand in hand, which is critical for achieving growth, creating jobs and enhancing inclusive development, Ambassador Astuto emphasized.
The MoU is a unique opportunity to not only boost bilateral trade, but to enhance sustainable growth and promote labour and environment standards. “CII and amfori together will provide a useful platform for fruitful exchange”, Ambassador Astuto added.
The role of industry members is critical for implementing policies for building viable and sustainable solutions, stated Mr Chandrajit Banerjee, Director General, CII. India has concluded several FTAs recently and there are immense global opportunities for Indian products through these and other ongoing FTAs including with UK and the EU, Mr Banerjee added.
“Recent crises such as the Covid-19 pandemic and the Russia-Ukraine war, calls for responsible and sustainable trade, which is the only way to build resilient supply chains and long-term sustainable trade”, stated Ms Linda Kromjong, President, amfori. She also highlighted the important role of trade policy in raising social, economic, and environmental standards.
Ms Kromjong also underscored the collective role of business, government and civil society in building sustainable trade and resilient supply chains, and in promoting environmental and human rights due diligence. Collaboration makes good business sense to drive sustainable and responsible businesses and supply chains, and we are proud of the progress made in India and look forward to continue to drive positive impact jointly with CII, she added.
Dr James J Nedumpara, Professor and Head, Centre for Trade and Investment Law, IIFT; Mr Raghav Handa, Director - Strategic Business Development and Government Affairs - India, HSBC; Ms Renita Bhaskar, Minister Counsellor, Head of Trade and Economic Section, EU; Dr Badri Narayanan Gopalakrishnan, Head -Trade, Commerce & Strategic Economic Dialogue, NITI Aayog, Government of India; Ms Prajakta L Verma, Joint Secretary, Ministry of Textiles, Government of India, also spoke at the seminar and shared their insights on sustainable trade.
25 August 2022